VANCOUVER - Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ('Gold Terra' or the 'Company') is pleased to announce that deep drill hole GTCM24-056, which started in early February targeting the Campbell Shear (past production of 5.1 Moz @ 16 g/t) at depth below the Con Mine workings, has intersected the Con Shear from 1366-1405 metres, a secondary shear structure with a past production of 1 Moz at 20 g/t gold (refer to the Oct. 21, 2022 Technical Report).

In addition, the hole has uncovered new gold mineralization ranging up to 13.90 g/t Au over 0.60 metres in the hanging wall granite host of the Con shear at multiple downhole depths (478.30 to 546 metres & at 748 metres).

The Con shear Deposit is located approximately one km west in the hanging wall of the main Campbell shear target on the Con Mine Option Property (CMO). Hole GTCM24-056 is currently at approximately 1,481 metres and progressing well towards the Campbell Shear target, expected at approximately downhole depth of 2700 metres. The CMO Property is under option from subsidiaries of Newmont Corporation and is 100% acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property Option agreement, as reported in the Company's news release dated November 22, 2021.

Chairman and CEO, Gerald Panneton, commented, 'Hole GTCM24-056 is now progressing well on its way to intersecting our prime target, the Campbell Shear, which produced 5.1 million ounces of gold at an average grade of 16 g/t. The Con shear intersection and the gold bearing quartz veining in the granite higher up in GTCM24-056 confirm the untested endowment of gold in this hanging wall area. The under-explored Campbell Shear and subsidiary shear zones such as the Con shear illustrate the large potential to find multiple gold deposits in gold camps such as Timmins, Red Lake, Cadillac/Larder Lake and Val d'Or, and as in these most prolific and highest-grade gold camps, that component is what attracted Gold Terra to explore this highly potential area.'

Con Shear Intersection

Hole GTCM24-056 has intersected the Con Shear from 1366-1405 metres. The Con Shear intersection is notably marked by intense silicification of mafic volcanic and intermediate intrusive rocks. A large quartz vein is present along the intermediate intrusive-mafic volcanic contact and numerous white to smoky grey quartz veins with pyrite mineralization exist within the strongly silicified and sheared zone. The shearing over the interval is intermittent but strong when present.

Gold in the Hanging Wall Granite Host

The unit is thought to represent a mineralized intrusive stock adjacent to the Con Mine gold systems, characteristic of various deposits in the Yellowknife Greenstone Belt.

Within the granitic intrusive unit, there are varying densities of quartz veining with associated alteration and mineralization. Veins range in size from hairline to 50 cm wide in densities of up to 6 veins per metre and are white to smoky grey. Siliceous alteration halos with pale green to yellow alteration surround the veins. Mineralization in veins typically consists of pyrite and arsenopyrite, but also occasionally contains sphalerite, galena, and pyrrhotite. Tourmaline is present in several veins and is viewed as an analogue to the Sigma- Lamaque complex (+15 Moz produced) in Val d'Or.

Assays returned significant gold values in several intervals between 478 and 546 metres. Further sampling is currently being completed in this area to ensure a thorough assessment of the veining.

Contact:

Gerald Panneton

Chairman & CEO

Email: gpanneton@goldterracorp.com

Mara Strazdins

Investor Relations

Tel: 1-778-897-1590

Email: strazdins@goldterracorp.com

Information Concerning Estimates of Mineral Resources

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be mined economically. It cannot be assumed that all or any part of 'Measured Mineral Resources,' 'Indicated Mineral Resources,' or 'Inferred Mineral Resources' will ever be upgraded to a higher category. The Mineral Resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

Cautionary Note to United States Investors

The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended ('CIM Standards'). The U.S. Securities and Exchange Commission (the 'SEC') has adopted amendments effective February 25, 2019 (the 'SEC Modernization Rules') to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of 'Measured Mineral Resources', 'Indicated Mineral Resources' and 'Inferred Mineral Resources', which are defined in substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of 'Proven Mineral Reserves' and 'Probable Mineral Reserves' to be substantially similar to the corresponding CIM Standards.

U.S. investors are cautioned that while the foregoing terms are 'substantially similar' to corresponding definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any Mineral Resources that the Company may report as 'Measured Mineral Resources', 'Indicated Mineral Resources' and 'Inferred Mineral Resources' under NI 43-101 would be the same had the Company prepared the Mineral Resource estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian securities laws, estimates of 'Inferred Mineral Resources' cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.

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 regarding the current drilling on the Campbell Shear, potentially adding ounces to the Company's current YCG mineral resource, and 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.sedar.com.

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.

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