Canterra Minerals Presents a Corporate Update

Rhea-AI Summary

Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) announces a live virtual corporate update on September 18th, 2024, at 2:00 PM E.T., hosted by Red Cloud Financial Services. CEO Chris Pennimpede will present on Canterra's recent acquisition in central Newfoundland, including the past-producing Buchans Mine. The company now owns all 6 known deposits in the region and exploration ground adjacent to Calibre Mining's Valentine Mine.

Additionally, Canterra announces a management change. CFO Harry Chan is departing, and Sara Hills, a CPA, CA with over 20 years of experience, joins as the new CFO. Ms. Hills has been granted 200,000 incentive stock options at $0.05 per share, exercisable for five years.

Positive

• Consolidated ownership of all 6 known deposits in central Newfoundland Mining District
• Acquisition of past-producing tier-1 Buchans Mine (Cu, Zn, Pb, Au, Ag)
• Exploration ground adjacent to Calibre Mining's Valentine Mine
• Appointment of experienced CFO Sara Hills with 20 years in accounting and finance

Negative

• Departure of long-standing CFO Harry Chan
• Issuance of 200,000 stock options at $0.05, potentially diluting existing shareholders

Vancouver, British Columbia--(Newsfile Corp. - September 17, 2024) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) ("Canterra" or the "Company") is pleased to announce that the Company is participating in a live virtual corporate update hosted by Red Cloud Financial Services. The presentation will be given by Chris Pennimpede, Canterra's President & CEO, and will commence at 2:00 PM E.T. on Wednesday, September 18^th, 2024.

Details of the webinar:

• Description: On the back of the transformational acquisition that Canterra completed at the end of 2023, Canterra has consolidated the entire central Newfoundland Mining District, where they wholly own all 6 known deposits and the exploration ground that is adjoining and adjacent to Calibre Mining's Valentine Mine. The cornerstone asset of this acquisition is the past producing tier-1 Buchans Mine (Cu, Zn, Pb, Au, Ag) and that's where Canterra sees the real potential for the next major discovery in this prolific base metal belt, where this project could yield another high-grade base metal discovery.

• Registration: https://redcloudfs.com/events/rcwebinar-ctm/

There will be a Q&A session following the presentation and webinar registrants are encouraged to submit questions. Registrants who are unable to attend the live webinar will be sent a replay link.

Management Change
After years of dedication to the Company, CFO Harry Chan has decided to focus on other ventures. The Company is grateful for all of Mr. Chan's contributions over the years. Mr. Chan was instrumental in navigating the Company through four transactions since 2020 resulting in the Company becoming a dominant critical minerals explorer in central Newfoundland with 6 deposits under management. The Company wishes Harry all best in his future endeavors.

Sara Hills joins the Company as its new Chief Financial Officer. Ms. Hills is a CPA, CA with over 20 years' experience in accounting and finance and has achieved increasingly senior roles in public mining companies including with KGHM International and Teck Resources. Ms. Hills started her career in public practice at BDO and KPMG and holds a BBA, and also holds roles of CFO, Corporate Secretary and provides consulting services for TSX Venture listed mining companies. As part of Sara's appointment, the Company has granted 200,000 incentive stock options at an exercise price of $0.05 for a period of five years from the grant date.

"The Company would like to thank Harry Chan for his hard work and dedication to Canterra over the years, having overseen the successful completion of four acquisitions in four years. We wish Mr. Chan all the best in his future endeavors and look forward to working with Sara," commented Chris Pennimpede.

About Canterra Minerals
Canterra Minerals is a diversified minerals exploration company with a focus on critical minerals and gold in central Newfoundland. Canterra's projects include six mineral deposits located in close proximity to Calibre Mining's new Valentine gold mine, as well as the world-renowned, past producing Buchans mine and Teck Resources' former Duck Pond mine, primarily former producers of copper, zinc, lead, silver and gold. Several of Canterra's deposits support historical Mineral Resource Estimates prepared in accordance with National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards for Mineral Resources and Mineral Reserves current at their respective effective dates (collectively the "Historical Resource Estimates"). Canterra's Historical Resource Estimates are deemed historical as they were prepared prior to their acquisition by Canterra.

ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO

Additional information about the Company is available at www.canterraminerals.com
For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including statements with respect to estimated mineral resources, the opening of avenues for substantial discoveries within the belt, the Buchans Project being ripe for a modern approach with significant exploration potential for high grade VMS mineralization, the Company anticipating being strongly positioned to unveil the next mineral discovery in central Newfoundland. All statements, other than statements of historical fact, are forward-looking statements 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 "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; as well as those risks and uncertainties identified and reported in the Company's public filings under its SEDAR+ profile at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward-looking statements and 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 statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223678

FAQ

When is Canterra Minerals (CTMCF) hosting its virtual corporate update?

Canterra Minerals is hosting its virtual corporate update on Wednesday, September 18th, 2024, at 2:00 PM E.T.

What major acquisition did Canterra Minerals (CTMCF) complete in 2023?

Canterra Minerals completed a transformational acquisition in late 2023, consolidating the entire central Newfoundland Mining District, including the past-producing tier-1 Buchans Mine.

Who is the new CFO of Canterra Minerals (CTMCF)?

Sara Hills has been appointed as the new Chief Financial Officer of Canterra Minerals. She is a CPA, CA with over 20 years of experience in accounting and finance.

How many stock options were granted to the new CFO of Canterra Minerals (CTMCF)?

Canterra Minerals granted 200,000 incentive stock options to the new CFO, Sara Hills, at an exercise price of $0.05 for a period of five years.