VANCOUVER, British Columbia / ACCESSWIRE / May 31, 2023 / Gold Terra Resources Corporation (TSX-V:YGT) (Frankfurt:TX0) (OTCQX:YGTFF) (“gold terra” or “company“) means Midas Minerals Limited (ASX: MM1)(“midas minerals“) is the Gold Terra (“final agreement“) as before (see April 4, 2023 Press release), among other things, Midas Minerals acquires up to 80% participating interest in two tiers of “critical minerals” (lithium, tantalum, tin (Li, Ta, Sn) and lithium-cesium based on pegmatite) Define what you can do. – Tantalum (LCT), and rare earths or other rare earth deposits) are contained within the total 536.1 square kilometers of the Cuitabel and Eastbelt Concessions on the Company’s wholly owned Yellowknife property, as well as additional 17 recent filings are also included. 182.7 km of eastern site². These holdings do not include potential goldfield areas on which the Company’s current drilling and exploration program is focused.

Chairman and CEO Gerald Panneton said, “We are pleased to have entered into a definitive agreement with Midas Minerals and look forward to their lithium and critical mineral exploration program. Yellowknife Gold In addition to the District’s wealth of gold, our extensive landholdings have excellent potential for important minerals, including a number of LCT pegmatites documented at the LCT Pegmatite Fields in Yellowknife. is focused on high-grade deep gold drilling targets to test the expansion of the underlying gold zone.”Unlike previous Con Mine operations, this agreement provides us with a Until the feasibility study is completed, Gold Terra will be able to provide the potential for significant mineral discoveries at no cost, and this definitive agreement is expected to bring value to both companies and their shareholders. ”

Outline of final option contract

• To obtain a 51% participation in the Critical Minerals Rights, Midas Minerals will be required to pay us $1.2 million in cash over the period ending September 30, 2026, and will also give us approximately $300,000 in cash. Common stock must be delivered. Midas Minerals will cost $5 million in exploration costs, requiring Gold Terra to be awarded a Gross Revenue Royalty (“GRR”) of 1.5% based on 100% production of Critical Minerals in the Cuitavel and Cuitavel East Blocks. I have. Midas has the right to purchase half of his GRR royalties for $5 million.
• Midas Minerals has the exclusive right to earn 51% interest over the first three years and up to an additional 29% interest over the next two years, as opposed to Critical Minerals up to 80% interest. Rights and interests in mineral claims over which we are known to own or may own material minerals over portions of our Yellowknife Property (YP). Rights to all other minerals remain with Gold Terra. If Midas Minerals does not elect to acquire an additional 29% participation (after winning the 51% participation), Midas Minerals must transfer the 2% participation to Gold Terra ( So the stake between Gold Terra and Midas Minerals is 51%/49%). To earn Critical Minerals’ additional 29% interest, Midas Minerals would have to incur an additional $5 million in exploration costs and an additional cash payment of $500,000.
• Gold Terra and Midas Minerals will form a joint venture with Critical Minerals upon exercise of the first option (acquisition of a 51% participating interest) by Midas Minerals.
• If Midas Minerals wins an 80% participating interest, Gold Terra’s interest in the Critical Minerals joint venture will become a viable and viable option for the Critical Minerals joint venture to develop a Critical Minerals project in any part of the world. The full amount will be carried over until you approve the sex survey. Quita Bell and Eastbelt blocks on Gold Terra’s property in Yellowknife, Northwest.
• Midas Minerals has commenced exploration at the Yellowknife Lithium Project (YLP), with two exploration teams scheduled to map and sample the project during June.
• The final option agreement is subject to standard precedent, including acceptance of third party consents and waivers.

project area

The YLP is adjacent to the east and north of Yellowknife, Northwest Territories of Canada and consists of three adjacent regions. Cuitabel, Cuitabel East and east belt Place blocks totaling 718.8 square kilometers as shown in Figure 1 below.

Over 100 LCT pegmatites are known from the region, including historical mention of lithium and tantalum mining during the YLP tenure. The East Belt District is located 4 kilometers east to 30 kilometers northeast of Yellowknife and has a total area of ​​approximately 173 square kilometers. The Eastbelt Block is also subject to a basic royalty agreement with Osco Royalties with an option to purchase up to 3% of his NSR. Quita Bell District is located 30 to 60 kilometers north of Yellowknife and has a total area of ​​approximately 371 square kilometers. The Cuitabel East Block, as its name suggests, is located to the east of Cuitabel. The Quita Bell housing complex covers a larger greenfield area with geology that favors both gold and lithium.

Figure 1 – Location map

qualified person

Gold Terra Senior Technical Advisor Joe Campbell (P. Geo.), a qualified person within the meaning of NI 43-101, has reviewed and approved the technical information contained in this news release.

About Gold Terra

The Yellowknife Project (YP) encompasses 800 square kilometers of contiguous land just north, south and east of the city of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra manages one of Canada’s six leading luxury gold camps. The YP project is less than 20 kilometers from the city of Yellowknife and close to critical infrastructure such as all-season roads, air transportation, service providers, hydropower and skilled craftsmen. Gold Terra focuses on exploration activities in prolific Campbellshire, where 14 million ounces of gold are produced, and most recently, past production Con Mine (1938-2003). Focuses on Con Mine Options (CMO) property claims just south of

The YP and CMO projects are located on the abundant Yellowknife greenstone belt, and nearly 70 kilometers along the major mineralized shear system that once produced the high-grade Cong and Giant gold mines. It covers the strike length. The company’s exploration program has successfully identified a significant zone of gold mineralization and multiple targets yet to be tested, reinforcing the company’s goal of re-establishing Yellowknife as one of Canada’s premier gold mining regions. became a thing.

About Midas Minerals

Midas Minerals is a junior mineral exploration company focused primarily on lithium and gold. The Midas Minerals board and management team has a strong track record of delivering value to shareholders through mineral discovery and mine development, and growing a microcap exploration company into his successful ASX100 to ASX300 company. The Company operates three of his projects in Western Australia and the Greenbush Project in Ontario, Canada. Newington Lithium Gold Project: Located at the northern end of the Southern Cross and Westnian Greenstone Belts, it is expected to produce lithium and gold. Exploration in 2022 revealed an overview of anomalous lithium and LCT index elements over at least a 20km strike. Weibo Gold Project: Located within the Yandal Greenstone Belt between the Thunderbox Gold Mine and the Bronzewing Gold Mine, it is expected to produce gold and nickel. Drilling in 2022 has prevented significant gold mineralization in several blocks. Challa Gold, Nickel-Copper-PGE Project: A number of significant PGE and gold-copper exploration targets have been set, with drilling set to commence in 2023. Greenbush Lithium Project: Close to infrastructure, low exposure and no historical excavation. A 15m x 30m spodumene containing pegmatite outcrop was discovered on the northeastern shore of the lake in 1955 and sampled by the Ontario Geological Survey (OGS) in 1965.

Please visit our website. www.goldterracorp.com.

For more information, please contact:

Gerald Panneton, Chairman and CEO
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Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 Ext. 102
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Cautionary Note Regarding Forward-Looking Information

Certain statements and information contained in this news release constitute “forward-looking information” within the meaning of applicable securities laws (“Forward-Looking InformationGenerally, this forward-looking information can be identified by the use of forward-looking terms such as “planned”, “expects” or “not expected”, “expected”, “budget” but not always. “expects”, “estimates”, “anticipates”, “intends”, “expects” or “unexpected”, or “believes”, or Variations of such words, phrases or statements, or specific actions, events, conditions or consequences. “will”, “may”, “could”, “would”, “might”, or “taken”, “occur”, or “achieved”, or any of them negative connotation.

All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily subject to known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or represented. Based on estimates and assumptions that are inherently susceptible to factors. Anything implied by such forward-looking information. Specifically, this news release contains forward-looking information regarding the Company’s large Yellowknife landholding, which has excellent potential for significant mineral exploration, in addition to the abundant gold reserves known in the Yellowknife Gold District. and the transaction provides the Company with the potential to discover important minerals at no cost to the Company until a secure financing feasibility study is completed.The transaction creates value for both the company and its shareholders. potential for Midas Minerals to obtain participation rights in significant minerals and mineral claims; Midas Minerals exploration plans at YLP in June 2023; The company’s goal to re-establish itself as one of the gold mining districts.

There is no guarantee that such statements are accurate. Our actual results and future events may differ materially from those projected in this forward-looking information as a result of the factors discussed in the Risk Factors section of this document. The Company’s current MD&A and Annual Information Forms are available from the Company Profile at: www.sedar.com.

Although we have attempted to identify important factors that could cause our actual results to differ materially from those contained in the forward-looking information, there are other factors that could cause results not to be as anticipated, estimated or intended. factors may exist. Forward-looking information contained in this news release is based on information available to us as of the date of this news release. There can be no assurance that such statements will be accurate, as actual results or future events could differ materially from those anticipated in such statements. All forward-looking information contained in this news release is subject to these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information as such information is subject to inherent uncertainties. Except as required by applicable securities laws and regulations applicable to us, we do not intend and undertake no obligation to update this forward-looking information.