Investment Highlights
- Advanced exploration company focused on high-grade gold deposits in the historic Yellowknife gold camp, Northwest Territories (Canada)
- Option to acquire 100% of the former Con Mine from Newmont, a formerly producing mine with over 6.1 million oz of gold
- Current resource potential of over 1.7 million oz of gold (Indicated + Inferred), including Con Mine Option Property and Yellowknife City Gold Project
- Exploration along the productive Campbell Shear Zone, which historically produced over 14 million oz of gold from Con Mine and Giant Mine
- Excellent infrastructure in close proximity to the city of Yellowknife with year-round road access, power supply and skilled workers
- Experienced management team led by Gerald Panneton, founder and former CEO of Detour Gold, with a track record of building large gold mines
Company & Strategy
Gold Terra Resource Corp. is a Canadian exploration company based in Vancouver that focuses on the development of high-grade gold deposits in the Northwest Territories. The company’s goal is to revitalize the historical production region of Yellowknife — one of Canada’s most important gold regions — through modern exploration technologies.
The core element of the corporate strategy is the consolidation and expansion of gold resources along the Campbell Shear, a structure that hosted two of the country’s highest-grade gold mines: the Giant Mine (8.1 million oz @ ~22 g/t Au) and the Con Mine (6.1 million oz @ ~15 g/t Au). Gold Terra now controls a contiguous land position of over 820 square kilometers, directly adjacent to the city of Yellowknife.
In the long term, the company is pursuing the goal of demonstrating an economically viable resource of at least 1.5 million oz of gold, as agreed in the Option Agreement with Newmont Corporation. At the same time, a Prefeasibility Study (PFS) is to be prepared, which will form the basis for a possible recommissioning of the Con Mine.
Market Environment
Gold Market and Macroeconomic Framework
Gold continues to be regarded as a strategic asset in a volatile geopolitical and inflation-driven environment. The persistently high gold price above US$2,000 per ounce (as of 2025) has significantly increased interest in projects in safe jurisdictions such as Canada. High-grade, infrastructurally well-developed projects with clear growth prospects are particularly in demand — a niche in which Gold Terra is strategically positioned.
Location Advantage: Northwest Territories
The Northwest Territories are among the most resource-friendly regions in Canada. The area around Yellowknife not only offers geological continuity with known high-grade structures, but also access to complete infrastructure: roads, electricity from hydropower, airports and local workers. These factors reduce potential CAPEX costs and improve the feasibility of future production scenarios.
Project Portfolio
Con Mine Option Property
The Con Mine Option Property (CMO) is Gold Terra’s flagship project. In November 2021, the company entered into an option agreement with Newmont Corporation to acquire 100% of the former producing mine. The option was extended in 2024 until November 2027.
The historic Con Mine produced over 6.1 million oz of gold with average grades between 16 and 20 g/t Au – an exceptionally high value in a global comparison. The current resource of the CMO includes:
- 109,000 oz Indicated (0.45 million t @ 7.55 g/t Au)
- 432,000 oz Inferred (2.0 million t @ 6.74 g/t Au)
The resource is based on 41 boreholes (21,019 m) and includes three zones: Yellorex Main, Yellorex North and Kam Point. Mineralization remains open at depth along the Campbell Shear.
In addition to the mining rights, the property also includes complete surface infrastructure including the Robertson Shafts (1,950 m), a 2,000 t/day conveying capacity, workshops, warehouses and a US$10 million water treatment plant (built in 2015). This existing infrastructure offers significant cost advantages for future exploration and development phases.
Figure 1: Location of the Con Mine Option Property and surrounding projects in Yellowknife.
Current Development
In September 2025, Gold Terra announced new drilling targets along the northern extension of the Campbell Shear. The aim of the ongoing campaign is to verify historical high-grade areas between 500 and 1,200 m depth and to expand the existing resource model. At the same time, zones with lower cut-off grades are to be reassessed, which could significantly increase the potentially economically recoverable ounces in the current high-price environment.
Following the 2025–2026 drilling programs, the company plans an update of the Mineral Resource Estimate as well as the preparation of a Preliminary Economic Assessment (PEA) to examine the economic viability of a recommissioning.
Contract Structure with Newmont
According to the Option Agreement, Gold Terra undertakes to invest at least US$8 million in exploration and to submit a PFS with a resource of at least 1.5 million oz of gold. After completion of these milestones, the company can take over the property for a final payment of US$8 million.
Newmont retains a 2% Net Smelter Royalty (NSR), which can be reduced to 1% if Gold Terra pays US$10 million within two years of the start of production. Should Gold Terra demonstrate 5 million oz of gold (Indicated + Measured), Newmont has a one-time back-in right to a 51% stake against a significant reimbursement of the investments and payment of US$30/oz.
Yellowknife City Gold (YCG) Project
The Yellowknife City Gold Project is immediately adjacent to the Con Mine Option Property and extends over 800 square kilometers along the Yellowknife Greenstone Belt. The project covers approximately 70 kilometers of the northern and southern extensions of the Campbell Shear – the structure that hosted the historic Con and Giant Mines.
Since 2013, Gold Terra has carried out extensive exploration work, including geological mapping, geochemical and geophysical surveys, and > 60,000 meters of drilling in four target areas: Crestaurum, Barney, Sam Otto and Mispickel.
The most recent resource estimate (March 2021) includes:
- 876,000 oz Au (Open Pit) – 21.8 million t @ 1.25 g/t Au
- 331,000 oz Au (Underground) – 2.55 million t @ 4.04 g/t Au
- Total: 1.207 million oz Au (Inferred)
The proximity to Yellowknife enables logistical efficiency and offers potential for combined development with the Con Mine Option Property.
Figure 2: Overview of the gold deposits of the Yellowknife City Gold Project.
Mulligan Gold Project (New Brunswick)
The Mulligan Project was acquired in 2019 through the acquisition of Gold Matter Corporation. It is an early exploration phase in the province of New Brunswick with initial high-grade gold and silver samples in a porphyritic host rock with pronounced sericitic and argillic alteration.
An IP geophysics program was completed, and initial drilling took place in 2020. Despite limited historical work, the geological environment indicates significant exploration potential.
Outlook
Gold Terra is entering a crucial phase of its corporate development. Following successful drilling programs in 2020 to 2024, the company is now aiming for a significant expansion of the resource base and the preparation of economic studies.
With the ongoing 2025–2026 drilling program along the northern Campbell Shear and the planned PEA, Gold Terra is likely to create important prerequisites for transforming the historic Yellowknife camp into a modern, profitable gold operation.
The combination of existing infrastructure, high grade potential, solid financing (most recently C$4.4 million with Osisko Gold Royalties, 2025) and a proven management team gives the company a strong starting position.
Management
Gerald Panneton | Chairman & CEO
Geologist with over 35 years of experience in exploration and mine development. Founder and former CEO of Detour Gold Corporation, where he expanded the Detour Lake project from 1.5 million oz to 16 million oz of reserves and raised over US$2.6 billion in capital. He received the PDAC Bill Dennis Award for Canadian mineral discoveries in 2011.
Mark T. Brown | Chief Financial Officer
Chartered Professional Accountant with 30 years of experience in financial management of listed companies. Founder of Pacific Opportunity Corp. and former Head of Finance at Miramar Mining (Con Mine) and Eldorado Gold.
Joseph Campbell | Senior Technical Advisor
Founder of Gold Terra and professional geologist with over 40 years of experience. He led the acquisition of the Yellowknife City Gold Project and was instrumental in several Canadian discoveries, including Touquoy (NS) and Meliadine (Nunavut).
Louis Dionne | Senior Technical Advisor
Former Senior Vice President Underground Operations at Barrick Gold and Director at Detour Gold (2006–2014). Involved in building the Detour Lake Mine into one of Canada’s largest gold mines.
Other Directors
Paul Bonneville (Mining Engineer, 30 years of operating experience), Patsie Ducharme (CPA, financial expert), Laurie Gaborit (Investor Relations & Communications, Detour Gold), and Hellen Siwanowicz (LL.B., Business Law).
The management team combines geological, technical and financial expertise with a proven track record of building exploration projects through to production.
Conclusion
Gold Terra Resource Corp. combines all the key components of a successful gold investment story: a geologically outstanding location, historically proven high-grade production, modern exploration on existing infrastructure and an experienced management with a proven track record.
With the option to acquire the Con Mine and the adjacent Yellowknife City Gold Project, the company controls one of the largest contiguous land blocks in the Yellowknife gold camp. The ongoing drilling programs along the Campbell Shear offer considerable potential to significantly expand the resource base. In the current environment of high gold prices and strong demand for projects in safe regions, Gold Terra is positioning itself as a potential future producer in the historical heart of Canadian gold mining — with a clearly defined growth path and long-term added value for investors.
