GT Resources Secures a Drill Permitted, Yukon Gold - Copper Porphyry Project Near Casino Deposit Ready to Announce with Confidence?
Toronto, Ontario--(Newsfile Corp. - May 20, 2026) - GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) (the "Company" or "GT") is pleased to announce it has entered into an earn-in-agreement ("Agreement") to acquire the CD Project in the Yukon's Dawson Gold Range, located near Carmacks (the "Property" or "CD") (Figure 1). CD hosts a Gold - Copper porphyry target, with valid drill permits until 2033.
The CD Project exhibits significant geological parallels to Western Copper and Gold's Casino deposit, situated 90km to the northwest. The Casino deposit hosts a Measured and Indicated Resource Estimate of 7.6 billion pounds of copper and 4.8 million oz gold. ( Roth et al. 2022.)
"The Yukon is a premier, underexplored Tier 1 jurisdiction. After an extensive search for gold-rich porphyry systems, CD emerged as our top priority. It represents a rare combination of an advanced greenfield project with a clear exploration model, potential to host a muti-billion tonne deposit, de-risked drill targets, and comes with a 50,000 meter drill permit in place. CD possesses many similarities to the nearby Casino deposit, and we believe that there is great potential for additional large-scale deposits in the Dawson Range Gold Belt which has been significantly under explored for porphyry-style deposits," commented Neil Pettigrew, Vice President of Exploration.
Investment Highlights
Similarities to the Gold - Rich Casino Copper Porphyry Deposit:
Schist target, an untested vein hosted gold - silver system
Figure 1. (A) Location map of the CD project and nearby projects within the Dawson Range Gold Belt, overlain on the tectonic assemblage map of the Yukon. (B) Regional geology surrounding the CD project with locations of the porphyry (also known as Maloney) and Schist targets, including location of nearby deposits, notably those of similar late Cretaceous age "Casino & Prospector Mountain Suite" (red triangles).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/298113_382dc838f44ba8a5_001full.jpg
Figure 2. Simplified geology of CD's porphyry target compared to the Casino deposit.
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Figure 3. 3D Isometric view looking northwest of CD's porphyry target showing a core defined by an inverted magnetic high (purple) flanked by an IP chargeability high rim (orange). This pattern is interpreted to be a magnetic porphyritic intrusive plunging to the southwest surrounded by an alteration halo, brecciation and veining similar to the mineralized breccia zone which surrounds an unmineralized porphyry intrusive core at the Casino deposit.
To view an enhanced version of this graphic, please visit:
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Figure 4. Shist Gold - Silver Target, showing widespread arsenic-in soil anomalies and location of 2011 trenches.
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https://images.newsfilecorp.com/files/6502/298113_382dc838f44ba8a5_004full.jpg
Geology and Mineralization
The CD Project lies within Yukon-Tanana terrane (Figure 1), a continental arc that developed along the ancient Pacific margin of North America from Late Devonian to Permian time and is situated between the Tintina Fault to the northeast, and the Denali Fault to the southwest. In the CD Project vicinity, specifically the Maloney target area, the terrane is dominated by the Devonian and older rocks of the Snowcap Assemblage, which is in turn dominated by fine clastic rocks, quartzite and conglomerate, including marble horizons metamorphosed to amphibolite grade. The Snowcap Assemblage has been introduced by numerous intermediate to felsic granitoid batholiths since the early Jurassic, notably in the Casino and CD area by the voluminous mid-Cretaceous Whitehorse Suite. The Whitehorse Suite intrusive event was followed by a more restricted late Cretaceous Casino / Prospector Mountain Suite (~79-72 million years) felsic intrusive event which is closely associated mineralization at Casino and Klaza deposits is the (Figure 1 & 2).
Geological mapping and exploration in general at CD has historically been complicated by extensive glacial loess and weathering as the bulk of the area is unglaciated. From what little outcrop is available the geology, structure and intrusive relationship of the CD Project have many analogs to the Casino deposit. At Casino a late Cretaceous Porphyry (Patton Porphyry) has intruded and brecciated surrounding Snowcap and Whitehorse rocks. This high phyllic and potassic altered breccia which hosts the gold-rich copper mineralization contains abundant disseminated pyrite and chalcopyrite and forms a discrete (~1,800 x 1,000m) pipe shaped halo surrounding the relatively massive Patton Porphyry (Figure 2). At CD we see similar relationships with both Snowcap and Whitehorse suite rocks intruded by late Casino / Prospector suite age (75 million years) porphyritic rocks with widespread potassic and phyllic alteration and local brecciation. The Geophysics at CD display a similar geometry to Casino with a magnetic core interpreted to represent a porphyry plug plunging to the southeast flanked by an IP chargeable rim (Figure 3).
Another style of mineralization present at CD is the vein hosted gold-silver mineralization present at the Schist target (Figure 4). Less is known about this style of mineralization, and no drilling has every been conducted, the mineralization may be related to the nearby younger Klaza-style vein hosted gold-silver-lead-zinc deposit or the older Coffee-style disseminated gold-arsenic deposit (Figure 1). The Schist target comprises gold, silver and arsenic bearing veins in hydrothermally altered metamorphic rocks. Mineralization within the veins consist of fine-grained disseminated pyrite and arsenopyrite with manganese oxide, limonite and sericite alteration. The Schist target contains a widespread (2,000 x 500m) gold and arsenic-in-soil anomaly and numerous placer mining claims have recently been staked in the area.
Structurally CD, Casino and Klaza are all located near the intersection of large-scale northwest and smaller scale northeast structures which may provide dilation for late Cretaceous porphyry intrusions and/or hydrothermal vein formation.
Exploration Plan - Next Steps
2026
The 2026 field season is dedicated to high-resolution data acquisition to precisely define the maiden drilling program. Given the heightened exploration activity in the Yukon, GT has optimized the earn-in schedule to prioritize advanced geophysical and geological modeling throughout the current year.
A key component of the 2026 work program is a property-wide airborne survey utilizing Expert Geophysics' MobileMT (Mobile MagnetoTellurics) system. This cutting-edge, natural-field EM (ElectroMagnetic) technology is specifically chosen for its ability to map deep subsurface resistivity and identify subtle disseminated sulphide mineralization that standard VTEM (Versatile Time Domain Electromagnetic) surveys miss. By integrating MobileMT data with existing ground-based IP and magnetics, GT will develop a comprehensive 3D model to pinpoint the highest-conviction drill targets.
2027
Building on the 2026 data, GT plans to conduct a 2,500-3,000 meter diamond drill program. This campaign will systematically test the gold-rich copper porphyry potential and the high-grade gold - silver vein targets at the Schist target.
References
Paulter, J., 2018. Technical Report on the CD Project in the Dawson Range Copper - Gold belt, Yukon territory for Strategic Metals Ltd.
Roth, D., Hester, M., Marek, J.M., Tahija, L.M., Schulze, C., Friedman, D., Weston, S., 2022. Casino Project Form 43-101F1 Technical Report, Feasibility Study, Yukon, Canada.
Transaction Details
The Agreement was entered into on May 19, 2026 on an Arm's Length basis between Strategic Metals Ltd. ("SMD"), who holds a 100% interest in the Property (the "Seller") and GT, pursuant to which GT will have the sole and exclusive right to earn from the Seller a 75% interest in and to the mineral claims comprising the Property, in consideration for the issuance or payment by GT to Seller of cash and shares and minimum exploration expenditures on the Property as follows:
To earn a 60% interest in the Property, making the following annual exploration expenditures and payments to Seller in cash and Shares, provided that the Shares will be issued at a deemed price equal to the volume weighted average price of the Shares on the Exchange (or, if the Shares are no longer traded on the Exchange, such other stock exchange on which the Shares are principally listed and posted for trading) for the 10 trading days immediately preceding but excluding the applicable payment date, subject to such deemed price not being less than $0.05 per Share. If the deemed price is less than $0.05 per Share, then such Share issuance shall be satisfied by way of a cash payment only.
Each of the aggregate cash and Shares payments is $225,000 as follows:
Aggregate of $10 million of exploration expenditures over 5-years on the Property as follows:
Upon GT having made all payments, Share issuances and incurred the exploration expenditures, GT shall be deemed to have acquired a 60% interest in and to the Property.
Upon providing notice on or before November 15, 2030, GT has the right to earn an additional 15% interest, for a total of 75%, on or before December 15, 2030, by paying SMD an additional $1,000,000 in cash or shares.
Upon earning a 75% interest, GT and SMD will enter a Joint Venture Agreement to jointly fund continued development of the Property on a 75/25 basis. Upon earning only a 60% interest, GT and SMD will enter a Joint Venture Agreement to jointly fund continued development of the Property on a 60/40 basis.
The Transaction is subject to the receipt of approval from the TSX Venture Exchange ("TSX-V") to the Transaction.
Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P.Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.
About GT Resources
GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) is a mineral exploration company focused on the discovery and de-risking of district-scale assets in top tier mining jurisdictions. The Company's strategy is driven by a disciplined, science-based methodology designed to create shareholder value by advancing high-potential properties toward production within robust regulatory frameworks.
In Finland, the Company is advancing its flagship Läntinen Koillismaa ("LK") Project, which hosts significant mineral resources including palladium, platinum, gold, copper, and nickel. In Canada, GT maintains a portfolio of earlier-stage, pre-resource projects targeting critical and precious metals. The quality and scale of the Company's project portfolio has attracted strategic investment from Glencore plc, one of the world's largest diversified natural resource companies.
Follow GT Resources on LinkedIn, Twitter, and at https://gtresourcesinc.com/.
ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information, contact:
Derrick Weyrauch, President & CEO or Neil Pettigrew, Vice President Exploration
Email: info@GTResourcesinc.com
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of GT Resources Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in mineral and commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and the impact of governmental entities. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298113
Source: GT Resources Inc.
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