Vancouver, B.C. – TerraX Minerals Inc. (TSX-V: TXR; Frankfurt: TX0; OTC Pink: TRXXF) is pleased to announce a corporate rebranding and name change to Gold Terra Resource Corp. ("Gold Terra" or the "Company") to reflect a renewed focus on the development of its wholly-owned Yellowknife City Gold ("YCG") Project, located in the Northwest Territories, Canada.
The new name Gold Terra comes with a refreshed energetic team led by Gerald Panneton, Executive Chairman (founder of Detour Gold) and a new focused approach to unlock the under-explored potential of the YCG Project.
The name change to Gold Terra is effective immediately; however, the Company will begin trading on the TSX Venture Exchange under its new name and new trading symbol (YGT) at the opening of trading on or about February 19, 2020. The Company's website has changed to www.goldterracorp.com. Any visitors to the Company's current website and any communications to the Company's current email addresses will be redirected automatically.
Executive Chairman, Gerald Pannerton stated, "The name change reflects a reset for the Company towards expanding the current gold resources and defining the potential for new discoveries on our district-scale land position, located next to the city of Yellowknife where the Con and Giant mines have produced over 14 million ounces of gold."
About Gold Terra Resource Corp
Gold Terra owns a 100% interest in the YCG Project, encompassing 790 sq km of contiguous land within 10 kilometers of the city of Yellowknife. The Company announced an inferred mineral resource estimate of 735,000 ounces of gold in November 2019, (News release November 4th 2019). The YCG Project which is located in the same archean belt where the former high-grade Con and Giant gold mines have produced over 14 million ounces of gold. The YCG project is located north and south of the city and along the same mineralized district scale as the past producer Con and Giant Mines.
For more information on the YCG project, please visit our website at www.goldterracorp.com.
On behalf of the Board of Directors,
"DAVID SUDA"
David Suda
President and CEO
For more information, please contact:
Samuel Vella
Manager of Corporate Communications
Phone: 604-689-1749 / Toll-Free: 1-855-737-2684
svella@terraxminerals.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 regarding the anticipated timing for the commencement of trading under the Company's new name and trading symbol and the anticipated development of the Company's YCG Project. 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.
