Canterra Intersects 7.73% Copper Equivalent Over 4.45 Metres at the Buchans Project, Newfoundland
Canterra Intersects 7.73% Copper Equivalent Over 4.45 Metres at the Buchans
Project, Newfoundland
VANCOUVER, British Columbia, Nov. 19, 2025 -- Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB)
(“Canterra” or the “Company”) is pleased to announce step-out drilling results, including 7.73% Copper Equivalent (“CuEq”) over
4.45 metres, its 100%-owned Buchans Project in the Central Newfoundland Mining District. The Buchans Project is located at the
site of the world-renowned past-producing Buchans Mine, approximately 50 kilometres north of Equinox Gold’s Valentine Gold
Mine and 34 km northwest of Teck’s past producing Duck Pond Mine.
In May 2025, Canterra intersected 5.97% CuEq 1,2 over 5.35 metres in hole H-25-3539 (news release dated May 20, 2025 ). This
latest drilling was completed in 3 holes at approximately 50 m step-outs, which have successfully extended the Two Level Zone
located outside the Lundberg resource. These results indicate high-grade mineralization remains open down plunge to the north.
Drilling Highlights:
• 7.73% CuEq over 4.45 metres (1.11% Cu, 11.38% Zn, 7.02% Pb, 125.5 g/t Ag & 1.24 g/t Au)
• 1.85% CuEq over 26.0 metres (0.84% Cu, 2.13% Zn, 1.30% Pb, 8.2 g/t Ag & 0.08 g/t Au), extending the Lundberg
stockwork zone 80 m beyond the current Lundberg Resource. At depth, the hole returned mineralization of 1.72% CuEq
over 6 m (0.28% Cu, 3.36% Zn, 1.55% Pb, 8.6 g/t Ag & 0.12 g/t Au)
• Two Level Zone mineralized footprint has now expanded to approximately 200 m x 50 m
“These drilling results confirm that Buchans has the potential to host a much larger and higher-grade system than previously
defined,” stated Chris Pennimpede, President and CEO of Canterra. “Intersecting high-grade copper mineralization with gold
mineralization in step-out drilling well outside the existing resource, demonstrates both the strength and continuity of
mineralization. With the Two Level Zone expanding and the Lundberg stockwork zone extending, we are seeing clear evidence
that Buchans remains one of Canada’s most prospective VMS districts. These results strongly support our strategy to unlock
significant new value through continued drilling and resource growth in one of the premier mining jurisdictions of Canada.”
Drill Result Analysis
Our ongoing program is systematically stepping out to extend mineralization and test new targets across one of Canada’s
highest-grade historic VMS camps.
Drilling has now expanded the Two Level Zone mineralized footprint to approximately 200 m x 50 m . This zone hosts high-grade,
transported, breccia-hosted sulphide mineralization similar in style to the historic high-grade ore mined at Buchans.
Below the Two Level Zone, drilling has consistently intersected stockwork sulphide mineralization equivalent to that of the
Lundberg Resource. These results indicate that the stockwork zone remains open and continues to expand at depth toward the
northwest.
Table 1. Assay Highlights. CuEq% as per estimated recovered metal prices of September 16, 2025 (see notes 1 & 2 at end of
release for additional explanation). H-25-3539 results previously released. H-25-3542 is a 50 m step-out west of H-25-3539. H-25-
3541 is a 50 m step-out east of H-25-3539. H-25-3540 is a 50 m step-out north (down dip of H-25-3539).
Hole From (m) To (m) Width (m) Cu% Zn% Pb% Ag g/t Au g/t CuEq (%)
H-25-3542 188.90 193.35 4.45 1.11 11.38 7.02 125.5 1.24 7.73
and 230.00 256.00 26.00 0.84 2.13 1.30 8.2 0.08 1.85
incl. 230.00 236.00 6.00 1.42 4.03 3.32 12.7 0.07 3.43
incl. 250.00 256.00 6.00 0.28 3.36 1.55 8.6 0.12 1.72
H-25-3541 116.00 116.50 0.50 0.22 0.59 0.71 15.9 0.05 0.72
and 168.00 172.00 4.00 0.17 0.48 0.06 0.9 0.04 0.35
and 200.00 213.00 13.00 0.14 0.43 0.17 1.5 0.03 0.32
H-25-3540 186.00 188.95 2.95 0.12 1.58 0.90 47.6 0.24 1.38
incl. 186.00 187.10 1.10 0.25 3.34 1.93 116.0 0.56 3.12
and 225.00 300.00 75.00 0.04 0.35 0.14 0.8 0.03 0.20
incl. 264.00 270.00 6.00 0.11 1.63 0.74 1.4 0.03 0.77
H-25-3539 145.95 151.30 5.35 1.05 7.17 4.63 140.0 0.88 5.97
incl. 146.95 148.95 2.00 1.43 10.91 6.58 151.0 0.97 7.99
and 225.00 243.00 18.00 0.52 1.13 0.63 3.7 0.04 1.03
incl. 229.00 237.00 8.00 0.67 1.31 0.78 4.7 0.04 1.27
Figure 1. Cross Section along H-25-3542 (looking west)
Figure 2. Two Level target plan view and Lundberg mineralization projected to surface.
Next Steps
With these successful results, Canterra is planning follow-up drilling to test the continuity and extent of mineralization at the Two
Level Zone. The Company's ongoing 8,000-metre drill program at Buchans will also continue to test other high-priority targets
across the wider Buchans Project.
Buchans Project
Canterra’s Buchans Project hosts the world-renowned, past producing Buchans Mine as well as the undeveloped Lundberg open
pit resource. This brownfield project covers 95 km 2 near the town of Buchans where Asarco operated the Buchans Mine from
1928 to 1984.
Figure 3. Map of Canterra’s Central Newfoundland Mining District properties.
Notes:
(1) True widths estimated to be a ~90% of reported core lengths.
(2) Copper Equivalent % = Cu% + ((Pb% * 22.046 * Pb Rec.* Pb price) + (Zn% * 22.046 * Zn Rec. * Zn price) + (Ag
g/t/31.10348 * Ag Rec. * Ag price) + (Au g/t/31.10348 * Au Rec. * Au Price))/(Cu Price * 22.046 * Cu Rec.)). Metal
recoveries (Rec.) to concentrate are 90.41% Zn, 91.32% Pb, 91.14% Cu, 32.12% Au & 72.87% Ag based on
“Centralized Milling of Newfoundland Base Metal Deposits - Bench Scale DMS and Flotation Test Program” (Thibault &
Associates Inc., 2017). Prices used are Cu 4.54$US/lb, Pb 0.88$/lb, Zn 1.35 $US/lb, Ag 42.55 $US/oz, Au 3692.80
$US/oz as of September 12, 2025.
Table 2. Drill collar locations
Hole Length (m) Azimuth Dip Northing (UTM
NAD83 Zone 21)
Easting (UTM
NAD83 Zone 21)
H-25-3540 301 180 -65 5,408,183 509,725
H-25-3541 235 180 -65 5,408,136 509,775
H-25-3542 256 180 -65 5,408,154 509,675
Newfoundland and Labrador Junior Exploration Assistance
Canterra would like to acknowledge financial support it may receive from the government of Newfoundland and Labrador’s Junior
Exploration Assistance Program related to completion of its 2025 exploration programs at Buchans.
About Canterra Minerals
Canterra is a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. The
Company’s projects include seven mineral deposits located in close proximity to the world-renowned, past producing Buchans
Mine and Teck Resources’ Duck Pond Mine, which collectively produced copper, zinc, lead, silver and gold. Several of Canterra’s
deposits support current and 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. Canterra’s
gold projects are located on-trend of Equinox Gold’s Valentine mine currently under construction and cover a ~55 km extension of
the same structural corridor that hosts mineralization within Equinox Gold’s mine project. Past drilling by Canterra and others
within the Company’s gold projects intersected multiple occurrences of orogenic-style gold mineralization within a large land
position that remains underexplored.
QA/QC Protocols
Samples consist of saw-cut (NQ drill core) with one-half retained for reference and one-half submitted for analyses. Samples were
submitted in sealed plastic bags delivered by Canterra personnel to SGS Canada’s preparatory facility in Grand Falls-Windsor,
Newfoundland. Sample batches consisted of core samples, control standards, blanks and duplicates. Once prepared, pulps
(SGS procedure code PRP89) were shipped to SGS Canada's laboratory in Burnaby, BC to be homogenized and subsequently
analyzed for multi-element assays (including Cu, Pb, Zn, Ag and Au) using sodium peroxide fusion with ICP-OES finish (codes
GE_ICP90A50 for Cu, Pb, Zn, Ag, GE_AAS42E50 for Ag by 4-acid digestion by AAS, and GE_FAA30V5 for Au by 30g Fire
Assay by AAS). Overlimit assays were completed as necessary by pyrosulphate fusion/XRF for Cu, Pb, Zn (code GO_XRF70V)
and Ag by 30g Fire Assay, gravimetric (code GO_FAG37V). SGS Natural Resources analytical laboratories operate under a
Quality Management System that complies with ISO/IEC 17025. SGS CANADA’s minerals laboratory in Burnaby is accredited
by the Standards Council of Canada (SCC) for specific mineral tests listed on the scope of accreditation to the ISO/IEC 17025
standard. Further details regarding SGS procedures are available at SGS Analytical Methods . Canterra also submits
representative pulps to ALS Geochemistry’s laboratory in Moncton New Brunswick for additional independent check assays.
Qualified Person
Paul Moore MSc. P.Geo. (NL), Vice President of Exploration for Canterra Minerals Corporation, a Qualified Person within the
meaning of National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.
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: [email protected]
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.