Toronto, Ontario--(Newsfile Corp. - June 29, 2026) - Magna Terra Minerals Inc. (TSXV: MTT) (the "Company" or "Magna Terra") is pleased to announce that Gold Hunter Resources Inc. (CSE: HUNT) ("Gold Hunter" or "HUNT") has commenced a 10,000-metre diamond drill program at the Great Northern Project in western Newfoundland (see link to HUNT news release here: https://goldhunterresources.com/gold-hunter-resources-commences-inaugural-drill-program-at-the-great-northern-project-newfoundland/).
The Great Northern Project is a large (26,237 hectare) advanced gold exploration project consolidated by Gold Hunter that includes Magna Terra's 13,775 hectare Great Northern and Viking Projects that are under option to Gold Hunter. The greater project area is centered along a 40 kilometre section of the Doucer's Valley Fault Zone ("DVFZ"), a major regional structure that is a control on, and host to several gold deposits and untested prospects, including the Rattling Brook and Thor Deposits plus the Incinerator, Furnace, Jackson's Arm, Viking, Kramer, Viking North, and Little Davis Pond mineralized trends. Additionally, Magna Terra's Shellbird Gold Project is located 30 kilometres to the southwest along strike of the DVFZ (Figure 1).
"We are very pleased to see this drill program get underway. This significant drill program will look to confirm and expand on the known resource areas, as well as test numerous first priority targets for potential new discoveries on this district scale land package. As the largest shareholder of HUNT (approximately 55 million shares representing an undiluted 19% interest), we are highly leveraged to any success this comprehensive drill program will deliver. This drill program along with the exploration advancements we are making on our own priority exploration projects both in Newfoundland and New Brunswick, as well as anticipated drill results from our partner Lunex Metals on our optioned Luna Roja Project in Santa Cruz Province, Argentina, will deliver significant news flow and multiple potential re-rating catalysts forthcoming through the rest of 2026 and into 2027."
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
Figure 1: A map showing the location of the Shellbird Gold Project, the projection of the Doucer's Valley Fault Zone, the adjacent Great Northern Project and Fishhawk Gold's Gold Valley Project, and major gold occurrences in the region.
To view an enhanced version of this graphic, please visit:
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Great Northern Project Option Terms
Magna Terra entered into an Option Agreement ("the Agreement") with Gold Hunter in June 2024, that was amended in March 2026. The amended terms of the Agreement are as follows:
| Term | Cash | Share Value* | Total Value |
| Exclusivity (Paid) | $75,000 | $0 | $75,000 |
| On signing (Paid) | $300,000 | $1,000,000 | $1,300,000 |
| 1st anniversary (Paid) | $450,000 | $2,750,000 | $3,200,000 |
| On signing of amendment (Paid) | $1,250,000 | $1,250,000 | $2,500,000 |
| 3rd anniversary | $1,000,000 | $1,000,000 | $2,000,000 |
| 4th anniversary | $500,000 | $500,000 | $1,000,000 |
| Total | $3,575,000 | $6,500,000 | $10,075,000 |
*Gold Hunter, in its sole discretion, can pay the Share Value payments due on the 3rd and 4th anniversary in cash or a combination of cash and shares.
- All values referred to are Canadian dollars.
Qualified Person and Technical Notes
This news release has been reviewed and approved by David A. Copeland, P.Geo., a non-independent consultant to the Company, and "Qualified Person" under National Instrument 43-101 - Standard for Disclosure for Mineral Projects.
About Magna Terra
Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt and Shellbird Gold Projects in Newfoundland and Labrador; our 100% owned Rocky Brook Gold and Critical Metals Project in the historic Bathurst Mining Camp of New Brunswick; the recently acquired Prospect Or's Dream Gold Project, and our 100%-owned Cape Spencer Gold Project in New Brunswick. In addition, the Company has optioned the Great Northern Project in Newfoundland to Gold Hunter Resources Inc. ("Gold Hunter") for total cash and share consideration of $10.075 million over a 4-year period, and currently holds an approximate 19% equity interest in Gold Hunter. The Company has also optioned the Luna Roja Project in Argentina to Lunex Metals Corp (formerly Andean Metals Corp.) for total cash and share consideration of $2.375 million over a 4-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its large 100% owned Boleadora Project, as well as several additional district scale drill ready projects available for purchase or option/joint venture.
Forward-Looking Statements
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 release.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the ability of the Company to file a report that complies with National Instrument 43-101. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, and the ability of the author of the Technical Reports to finalize same.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include the inability of the Company to execute its proposed business plans and carry out planned future activities. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of gold, changes in the financial markets and in the demand for precious metals, changes in laws, regulations and policies affecting the mineral exploration industry, and the Company's investment and operation in the mineral exploration sector, as well as the risks and uncertainties which are more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
Email: info@magnaterraminerals.com
Website: www.magnaterraminerals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303226
Source: Magna Terra Minerals Inc.
