Gold Terra's C$1,314,000 Private Placement: Fueling Exploration in the Northwest Territories

Gold Terra Resource Corp. (TSXV:YGT) has recently announced the successful closing of a C$1,314,000 non-brokered private placement, consisting of flow-through (FT) and charitable flow-through (CFT) shares. This financing round is set to boost the company's exploration efforts in the Northwest Territories, particularly at the Con Mine Option property. Let's delve into the details of this placement and its implications for Gold Terra's future.

The private placement involved the issuance of 3,000,000 FT Shares at C$0.06 per share and 16,200,000 CFT Shares at C$0.07 per share. The proceeds from this offering will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" by December 31, 2025. These expenses will be renounced in favor of the subscribers of the FT Shares and CFT Shares effective December 31, 2024.



Insiders of Gold Terra participated in the Offering by purchasing 600,000 FT Shares, indicating their confidence in the company's prospects. This alignment of interests between management and investors is a positive sign for the company's future. However, it is essential to note that such participation constitutes a related party transaction, which is exempt from formal valuation and minority shareholder approval requirements as it does not exceed 25% of the Company's market capitalization.

The raised funds will be primarily allocated to the Con Mine Option property, targeting the prolific Campbell Shear structure. This structure has historically produced 14 Moz of gold at an average grade of 16-22 g/t Au. The current drill program aims to increase the company's current Indicated and Inferred resource near surface and south of the Con Mine. The exploration drilling program is expected to commence in early January 2025, following the successful closing of the private placement.



Gold Terra's strategic focus on the Con Mine Option property is well-founded, given the rich history of gold production in the area. The property boasts excellent infrastructure, including the Robertson shaft, water treatment plan, warehouse, and offices. The Con Mine closed in 2003, with approximately 650,000 ounces at 11-12 g/t Au in historic reserves and combined resources. With the new financing, Gold Terra is poised to unlock the full potential of this promising property.

In conclusion, Gold Terra's C$1,314,000 private placement is a significant milestone for the company, enabling it to accelerate its exploration efforts in the Northwest Territories. The raised funds will be used to test the Campbell Shear structure below the existing workings of the Con Mine, with the potential to add significant free milling high-grade ore. As the company continues to build on its strong foundation, investors can look forward to exciting developments in the coming months.