Gold Terra Announces Appointment of Paul Bonneville as Director and Grants Options

VANCOUVER, BC / ACCESSWIRE / August 22, 2023 / Gold Terra Resource Corp. (TSX-V:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company") today is pleased to announce the appointment of Paul Bonneville to the Board of Directors of the Company and as a member of the Audit Committee subject to approval of the TSX Venture Exchange.

Mr. Paul Bonneville is a mining engineer with over 30 years of experience in the mining industry in Canada. Most recently, he was VP and Director of PRB Mining Services Inc. with work on many large projects including Operations Director for the Critical Elements Lithium Corporation Rose Lithium-Tantalum Project, as well as mine design and feasibility studies for Abcourt Mines Inc. and Bumigeme Inc. Prior to that he was a consultant for Mine Tech Services, Vice President Operations for Scorpio Mining and Vice President Mines for Cadiscor Resources. He worked for Dumas Contracting as Project Manager at the Lapa and Goldex shaft projects and for Ross-Finlay Ltd., where he held a range of positions, including Project Manager at the Bell-Allard shaft project and the Silidor project, and at Pan American Silver Corp. He has also managed several overseas operations. Paul is a graduate of Queen's University in Mining Engineering and a member of several professional affiliations including Ordre des ingénieurs du Québec, Professional Engineers of Ontario, Society of Mining Engineers and the Canadian Institute of Mining and Metallurgy.

"On behalf of the Board of Directors, I would like to welcome Paul to the Board," said Gerald Panneton, Chairman & CEO of Gold Terra. "His level of experience and knowledge in mine design, preliminary economic assessment, feasibility studies, operations, underground development, construction, and production is a tremendous asset for Gold Terra as we aim towards a potential future development plan.

The Board of Directors have approved a grant of stock options under the Company's stock option plan to its officers, employees and consultants to purchase up to an aggregate of 1,225,000 common shares. The options are exercisable at a price of $0.10 per share for a period of 5 years and are subject to the policies of the TSX Venture Exchange and the Company's stock option plan which includes a vesting period beginning six months after issue for 25% of the options, and 25% every six months following.

About Gold Terra

The Yellowknife Project (YP) encompasses 918 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell Shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option (CMO) property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).

The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Visit our website at www.goldterracorp.com.

For more information, please contact:

Gerald Panneton, Chairman & CEO
gpanneton@goldterracorp.com

Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
strazdins@goldterracorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.

All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information on the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and annual information form available under the Company's profile at www.sedarplus.ca.

Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

SOURCE: Gold Terra Resource Corp.