Trans Canada Gold Corp. Secures Drilling Permit for New Well in Alberta

Trans Canada Gold Corp. has received approval to drill its new Lloyd 5-23 multilateral well in Alberta. This permit is for a seven-leg Sparky multilateral well near Lloydminster, operated by Croverro in a joint venture. Trans Canada holds an 18.75% interest in this project. The well is expected to mirror the success of a previous 2023 well, which yielded over 100,000 barrels of oil.

The anticipated cost of the project is $1.9 million, supported entirely by production cash flow. No share dilution is expected in the funding process. The well aims to tap into an estimated 3000 meters of the Sparky formation.

Trans Canada plans additional wells in the area and remains committed to its multilateral drilling strategy through 2025 and 2026, using advanced techniques alongside Croverro Energy's expertise.