Overview

100% OWNED Yellowknife Project EXPLORATION OVERVIEW

The Yellowknife Project (YP) lies within the prolific Yellowknife greenstone belt and covers the northern and southern extensions of the shear system that hosts the former high-grade Con mine (6.1 Moz produced) and Giant mine (8.1 Moz produced) for a total of 14 Moz of gold produced. The project area contains numerous gold showings and multiple shear structures which are the recognized hosts for high-grade gold deposits in the Yellowknife gold district. Being all-season road accessible and all within 10 to 40 kilometres of Yellowknife, the YP is close to vital infrastructure, including transportation, service providers, hydro-electric power and skilled trades people.

Gold Terra started exploration activities in 2013 on the initial 37 km² property and has subsequently assembled a highly prospective district-scale land position, which overall has been relatively unexplored. Gold Terra has carried out geological mapping and sampling, geochemical and geophysical surveys, and an extensive compilation of all prior exploration activities, including re-sampling of historic drill core.

The 2026 drilling is targeting and expanding the Walsh Lake -Northbelt area, 20 kilometres north of Yellowknife. The Pickel (formerly Mispickel) zone was previously drilled in 2022 (19 holes for 6,011 metres completed) and intersected high-grade assays including: GTWL22-002 = 19.00 g/t Au over 4 metres including 73.9 g/t Au over 1 metre; GTWL22-004 = 7.63 g/t Au over 3 metres including 22.5 g/t Au over 1 metre; and GTWL22-0014 = 31.89 g/t Au over 3 metres including 69.4 g/t Au over 1 metre (see August 25, 2022 press release).

Mineral Resource Estimate

In November 2019, Gold Terra released its initial NI 43-101 mineral resource estimate on four deposits, which are just 12 km from the city of Yellowknife. In March, 2021, Gold Terra announced an mineral resource estimate for the Sam Otto, Crestaurum, Barney and Mispickel gold deposits of 1,207,000 Inferred ounces consisting of an open pit constrained Inferred mineral resource of 21.8 million tonnes averaging 1.25 g/t for 876,000 ounces of contained gold, and an underground Inferred mineral resource of 2.55 million tonnes averaging 4.04 g/t for 331,000 ounces of contained gold. (Refer to the October 21, 2022, technical report, titled "Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada" with an effective date of September 2, 2022, was prepared by Dr. Allan Armitage, P.Geo. from SGS, an Independent Qualified Person as defined under NI 43-101 at Gold Terra Oct 21, 2022, Technical Report).

On May 15, 2026, Gold Terra announce the results of an updated, independent, Mineral Resource Estimate prepared by SLR Consulting (Canada) Ltd on the Yellorex, Zone 103N, and Crestaurum deposits, part of YP Project. The Northbelt-Walsh Lake deposits, Sam Otto, Barney and Pickel (formerly Mispickel), were not included in the 2026 updated Mineral Resource Estimate. The previous Technical Report for those deposits was prepared by SGS (refer to the Gold Terra Oct 21, 2022, Technical Report).

The 2026 updated Yellorex, Zone 103N, Crestaurum deposits Mineral Resource Estimate for the project is summarized in Table 1, with an effective date of April 30, 2026.

Table 1: Summary of Yellorex, Zone 103N, and Crestaurum – effective date April 30, 2026