Gold Terra Resource Corp. provided an update on its Option Agreement with Midas Minerals Ltd. The option with Midas includes only Lithium and Rare Earth outside the gold corridor of the Yellowknife Project covering approximately 718 square kilometres. The Yellowknife region is known to host multiple lithium-bearing pegmatites, with associated tantalum minerals relating to multiple fertile stocks emanating from the Prosperous Granite Complex.

In the Option Agreement, Midas can earn first a 51% interest over 3 years by paying CAD 1.2 million, issuing 2.2 million shares of Midas (done summer 2023) and spending a minimum of CAD 5 million, subject to a 1.5% Gross Revenue Royalty (GRR). Midas can up its interest to 80% by spending another CAD 5 million over the next 2 years and Gold Terra has a carry interest of 20% up to a positive bankable feasibility study. Refer to the March 31, 2023 press release for full details.

More than 100 LCT pegmatites are known in the region, including historic references to lithium and tantalum occurrences within the YLP tenure. Midas has completed their first season of exploration at the Yellowknife Lithium Project ("YLP") in Northwest Territories, Canada. Highlights: From May to late August 2023, Midas collected a total of 567 rock chip samples in broad-spaced regional sampling programs over approximately 300 square kilometres, Ten spodumene-bearing pegmatites confirmed to date returning maximum grades of up to 4.65% Li2O (refer to Midas ASX release dated 2 August 2023), Midas has successfully defined fertile pegmatite swarms with combined 58 kilometres of strike and an area of 70 square kilometres, Midas will undertake more detailed mapping in its 2024 field season to locate and define additional spodumene-bearing pegmatites within the fractionated pegmatite swarms located to date and prioritize targets for potential drill testing.