#Gold Terra Resource Corp. Completes Second Tranche of Private Placement
Gold Terra Resource Corp., listed on the TSX Venture Exchange as YGT, has announced the successful closure of the second tranche of its previously announced non-brokered private placement, securing total gross proceeds of C$10.8 million. This round includes C$446,665.86 generated through the issuance of 2,481,477 common shares at an issue price of C$0.18 per share.
The funds raised are designated for general corporate purposes as well as funding two drilling programs situated in the Northern Campbell Shear target Zone 103 N and on the historical tailings of the Con Mine. Approximately 12 million tonnes of processed ore residues have been located on this site, which operated between 1938 and 2003.
The final tranche of the offering is anticipated to be completed on or around August 20, 2026, and is subject to specific conditions. It is important to note that the offering is non-brokered and does not include any warrants, pending acceptance by the TSX Venture Exchange.
Gold Terra's planned drilling programs are expected to enhance the understanding of gold resources in the area. However, the company cautions that estimates related to mineral resources are inherently speculative and subject to various legal, political, environmental, and other risks, which could impact the potential development of such resources.
Gold Terra Resource Corp. primarily operates within the Yellowknife Project, which encompasses 836 square kilometers of strategic land located near essential infrastructure in the Northwest Territories. The project lies in proximity to notable gold production, previously accounting for approximately 14 million ounces of gold.
Gold Terra Resource Corp. has raised a total of C$10,800,000 from its private placement, which includes a second tranche that closed with proceeds of C$446,665.86.
The net proceeds from the Offering are designated for general corporate purposes and to fund two drilling programs on the northern extension of the Campbell Shear target Zone 103 N, and on the Con Mine historical on-site tailings.
Gold Terra intends to initiate two drilling programs scheduled to start in July/August. These programs aim to confirm and add ounces of gold on the Con Mine Option property, which is under option from Newmont Corporation.
The final tranche of the Offering is expected to close on or around August 20, 2026, subject to certain conditions.
The mineral resource estimates are subject to various legal, political, environmental, and other risks, which may materially affect the potential development of such resources. It is also noted that mineral resources do not have demonstrated economic viability.
Gold Terra Resource Corp. is listed on the TSX Venture Exchange under the ticker symbol YGT, as well as on the Frankfurt Exchange under TX0 and the OTCQB under YGTFF.
The technical information in the news release has been reviewed and approved by Joseph Campbell, a Qualified Person as defined in National Instrument 43-101.
No, the news release does not constitute an offer to acquire securities in any jurisdiction.