CANTERRA MINERALS CORP - CTMCF STOCK NEWS

Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has expanded its land position along the Valentine Lake Shear Zone (VLSZ) in Newfoundland. The company has staked an additional 3.6 km segment of the VLSZ, bringing its total coverage to approximately 60 km of strike along the gold-bearing structural corridor. This expansion is strategically significant as it's located less than 18 km northeast of Calibre Mining's Valentine gold mine, currently under construction.

The new claims comprise 47 claims covering 11.75 km² and are contiguous to Canterra's existing property. Previous drilling in the area has yielded promising results, including intercepts of 10.0 g/t Au over 5.35 m and 0.57 g/t Au over 42.0 m. The expanded land position strengthens Canterra's presence in an emerging gold mining district that has attracted major players like Calibre Mining, B2Gold, and Eldorado Gold.

Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has announced high-grade copper exploration results and an expansion of its Victoria Project in Newfoundland. Key highlights include:

1. Grab samples returning up to 12.5% copper from newly acquired claims.
2. Expansion of the Victoria property by 1,095 hectares to a total of 1,275 hectares.
3. The project is located in an area with historic small-scale mining dating back to the early 1900s.
4. Previous drilling intersected up to 5.5% Cu over 20.58 m.
5. The company has entered into an option agreement to acquire a 100% interest in adjacent properties.

The Victoria Project is part of Canterra's growing portfolio in the Central Newfoundland Mining District, focusing on critical minerals and VMS deposits.

Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has completed the sale of its Buffalo Hills Diamond Project in north central Alberta, Canada, to Star Diamond (TSX: DIAM) for an implied purchase price of $1.05 million. The transaction involves:

1. 17,500,000 common shares of Star Diamond as consideration
2. A 1% royalty interest in the Project
3. Half of the shares subject to a 12-month lock-up period
4. All shares subject to a four-month hold period

Canterra's CEO, Chris Pennimpede, expressed satisfaction with the deal, stating that the company will now focus on its advanced stage copper and gold exploration in central Newfoundland.

Canterra Minerals (TSXV: CTM) (OTCQB: CTMCF) has announced the start of summer field programs on its volcanic massive sulphide (VMS) projects in central Newfoundland. The company plans a 2,000 m drilling program at Buchans to explore for new high-grade massive sulfide mineralization and expand the Lundberg deposit. The program includes:

- Geological investigations and sampling of archived drill core from multiple deposits
- Follow-up work on recent results from Lemarchant, Long Lake, and Tulks East projects
- Focus on projects with potential for higher copper grades and metal inventory

Canterra is fully funded for this summer's exploration and has engaged qualified consultants for technical contributions. The company's Buchans Property hosts the undeveloped Lundberg deposit, with significant In-pit Indicated and Inferred Mineral Resources.

Canterra Minerals (TSXV:CTM) (OTCQB: CTMCF) has announced the sale of its Buffalo Hills Diamond Project in north central Alberta, Canada to Star Diamond (DIAM: TSX) for $1.13 million. The transaction involves Star Diamond acquiring a 100% interest in the project in exchange for 17,500,000 common shares of Star Diamond. Additionally, Canterra will receive a 1% royalty interest in the project.

The deal includes a 12-month lock-up period for half of the consideration shares and a customary four-month hold period for all shares. The agreement is subject to regulatory approvals, including from the TSX and TSXV. This sale allows Canterra to focus on its core copper and gold exploration activities in the central Newfoundland Mining District while maintaining exposure to the Buffalo Hills Project through its new equity stake in Star Diamond.

Canterra Minerals held its Annual General and Special Meeting on June 11, 2024, in Vancouver, with 44.17% of outstanding shares represented. Shareholders overwhelmingly approved all proposals, including the re-election of five directors and the addition of Joanne Kearney to the board. Kearney, who joined earlier in 2024 as a technical advisor, brings over 20 years of experience in Canada’s mining and capital markets. Shareholders also approved the appointment of Davidson & Company LLP as auditors and the new Omnibus Incentive Plan, allowing up to 10% of the company's shares for stock-based compensation. The plan requires final approval from the TSX Venture Exchange.

Canterra Minerals has filed a National Instrument 43-101 Technical Report for its Lundberg deposit, part of the Buchans Project in Newfoundland. The report confirms an Indicated Mineral Resource of 16.79 million tonnes grading 0.42% Cu, 1.53% Zn, 0.64% Pb, 5.69 g/t Ag, and 0.07 g/t Au, and an Inferred Mineral Resource of 380,000 tonnes grading 0.36% Cu, 2.03% Zn, 1.01% Pb, 22.35 g/t Ag, and 0.31 g/t Au. This estimate will guide future exploration and potential economic assessments. The project shows significant potential for expansion and further exploration for new mineral zones.

The effective date of the Resource Estimate is February 28, 2019, and it is based on 263 drill holes. The report recommends a Preliminary Economic Assessment to evaluate the viability of an open-pit mining scenario. The Lundberg deposit is part of a volcanogenic massive sulphide environment, and Canterra sees potential for discovering additional higher-grade mineralization adjacent to the deposit.

Canterra Minerals announced the results of a ground gravity survey at the Tulks East Project in central Newfoundland, showcasing positive anomalies near known mineralization zones. The survey identified potential extensions of massive sulfide mineralization, recommending drill targets for further exploration. The project holds promise for new high-grade VMS discoveries, with historical drilling revealing significant mineralization. Canterra plans to review the data to identify additional drilling targets.

Canterra Minerals announced the results of a ground gravity survey at its Long Lake Project in central Newfoundland, Canada. The survey identified positive gravity anomalies in underexplored areas near the Long Lake deposit. The Company is now reviewing the data to identify drilling targets and assess the exploration potential of the project. The Long Lake deposit shows promise for expansion at depth and new high-grade VMS discoveries, making it a priority for further exploration.