Gold Terra Completes C$1,314,000 Private Placement Financing

Gold Terra Resource Corp, a Vancouver-based mining company, has successfully closed its charitable flow-through (CFT) and flow-through (FT) non-brokered private placement, raising C$1,314,000. This includes C$180,000 from 3,000,000 FT shares at C$0.06 each and C$1,134,000 from 16,200,000 CFT shares at C$0.07 each. This initiative is part of an overall private placement drive totaling C$2,396,500, which involved insiders purchasing 600,000 FT shares.

Funds from this placement will be used for Canadian exploration expenses in the Northwest Territories, focusing on Gold Terra's projects aimed at expanding resources near the historical Con Mine site. The current drill program targets the Campbell Shear structure, historically prolific for gold production. The financing will aid in advancing their wedging program set to begin in January 2025.

CEO Gerald Panneton expressed satisfaction with the support from existing shareholders, including Eric Sprott and Mackenzie Fund. The proceeds will help assess high-grade gold potential beneath existing workings of the former Con Mine, which closed in 2003.