VANCOUVER, British Columbia, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Terra Rossa Gold Ltd. (the "Company" or "TRG") (TSXV: TRR) is pleased to provide the following corporate update and announce the appointment of Carlos Alberto Velásquez, Geologist, to the position of Exploration Manager and Doug Kirwin as Lead Strategic Technical Advisor.
Carlos is a senior geologist with 30 years of extensive experience in regional and detailed geological exploration, and has led geological exploration programs in epithermal, skarn, porphyry, and laterite deposits in Colombia, Guatemala, Peru, and Nicaragua. He has proven experience in carrying out his work with constructive interaction with stakeholder groups, such as indigenous cultures and local communities.
Carlos held the position of Manager of Greenfield Exploration in Mineros, Nicaragua from 2017 to 2025, where he was responsible for leading exploration programs for precious and polymetallic minerals in targets adjacent to the current operation and at a regional level. Previously, he was Geology Manager of Brexia Goldplata Perú and Brexia Resources between 2011 and 2017, and held various leadership roles in exploration campaigns for several underground, open pit and development companies in Latin America between 1997 to 2011. Carlos completed his B.Sc in Geology from Eafit University in Colombia in 1996.
Doug is an Australian geologist with over 50 years of international exploration experience. He commenced his career in Papua New Guinea with Anglo American in 1970 and later worked for AMAX in southeast Asia, Mexico and the Pacific. From 1985 to 1995, Doug formed an independent consulting company working mostly in southeast Asia. He was executive vice president of Ivanhoe Mines from 1996 to 2012 and a founding director of Ivanhoe Mines Australia. As a member of the of the joint discovery team for the giant Hugo Dummett copper-gold deposit in Mongolia, Mr. Kirwin was a co-recipient of the PDAC Thayer Lindsley medal awarded for the most significant global mineral discovery in 2004. Doug has an MSc in mineral exploration from James Cook University where he is currently an adjunct professor of geology.
In late 2025, Doug completed an earlier visit to the Company's Vetas gold project (the "Project"), followed by Carlos, to assess and define exploration targets for follow up programs including drilling; Doug will work closely with Carlos in assessing and refining these programs throughout 2026.
Over the past two months, the geological team has completed significant on site work setting up all required technical and logistical work in order to commence this year's exploration programs at the Project. To date work has included the validation, processing and analysis of the historical technical and drill data information. Work will now continue to define key targets for both follow up drilling on existing veins and testing of new targets recently identified from surface sampling and mapping. Once drill permits are received, it is expected that drilling will commence later in the year from both underground and surface.
Further to the Company's press release issued on October 20, 2025, regarding the closing of the Company's reverse takeover transaction (the "Transaction"), the Company announces an update to the number of securities subject to the Tier 2 Value Security Escrow Agreement entered into as of completion of the Transaction (the "Escrow Agreement"). Specifically, an additional 357,142 common shares of the Company (the "Escrowed Shares") held by a director of the Company will be subject to the terms and conditions of the Escrow Agreement.
About Terra Rossa Gold Ltd.
The Company is a well-financed gold exploration and development corporation with an experienced mine development team. A local exploration and administration team is in place in Colombia, and the Company also has a local community relations office in the town of Vetas. Current Board and Management is focused on building shareholder value through the advanced exploration and subsequent development of the Vetas gold project.
On Behalf of the Board of Directors
Patrick Downey, CEO
T: 604-802-8492 or info@terrarossagold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "anticipate", "believe", "continue", "estimate", "expect", "intend", "projected" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.
More particularly and without limitation, this press release contains forward-looking statements concerning: (i) the evaluating of follow-up programs and exploration targets by the newly appointed personnel of the Company; (ii) working to define key targets for follow-up drilling; and (iii) the expected receipt of drilling permits and ensuing commencement of drilling later in 2026 at the Project. In disclosing the forward-looking information contained in this press release, The Company has made certain assumptions, including but not limited to: the merits of exploration results; receipt of all necessary permits and regulatory approvals; and ability of management to properly evaluate its programs and appropriately set targets. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: delay or failure to receive regulatory approvals and general business, economic, competitive, political and social uncertainties in Colombia, commodity price risks, and reliance on key personnel..
Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
