Gold Terra Announces $2.5 Million Private Placement with Eric Sprott as Lead Investor

Gold Terra Resource Corp. is set to launch a non-brokered private placement worth $2.5 million, featuring Eric Sprott as the principal investor. This financing move will consist of selling 50 million common shares at C$0.05 each. Notably, this offering will not include any warrants, and a 6% finder's fee is planned for eligible participants, following securities laws and TSX-V policies. The company aims to close this offering around April 19, 2024.

The raised funds are earmarked for general corporate uses and to further the ongoing drilling program at the Campbell Shear target on the Con Mine Option property. This drilling initiative seeks to expand the current Indicated and Inferred resource base by targeting below the existing underground infrastructure, where high-grade free milling ore is anticipated. The Con Mine property, benefitting from robust infrastructure, ceased operations in 2003 but retains considerable untapped potential.

Gold Terra's efforts at the Con Mine are part of broader endeavors to augment the mineral resource estimate on the Yellowknife City Gold Project. With an advantageous location near Yellowknife's vital infrastructure, the project aims to rejuvenate one of Canada's premier high-grade gold districts. The company's focus on the prolific Campbell Shear and the strategic Con Mine Option property underscores its commitment to unlocking the area's gold mining heritage.