Canterra Minerals Intersects High-Grade Gold at Wilding in Central Newfoundland, Including 10.89 g/t Au over 31.5 m
Canterra Minerals Intersects High-Grade Gold at Wilding in Central
Newfoundland, Including 10.89 g/t Au over 31.5 m
VANCOUVER, British Columbia, Jan. 20, 2026 -- Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE:
DXZB) ("Canterra" or the "Company") is pleased to report results of high-grade gold mineralization, including 31.5 metres (core
length) averaging 10.89 g/t Au, from its fall 2025 diamond drilling at its 100%-owned Wilding Gold Project adjoining Equinox
Gold’s Valentine Mine in central Newfoundland.
“These results demonstrate that Wilding has the potential to host a high-grade, district-scale gold system in one of Canada’s
most attractive mining jurisdictions,” said Chris Pennimpede, President and CEO of Canterra. “As global uncertainty continues
to drive interest in secure North American gold assets, we believe Canterra is well positioned to create long-term value through
disciplined exploration next door to Atlantic Canada’s largest gold producer.”
Drilling Highlights
A total of 1,243 metres (m) of large diameter (HQ) core drilling were completed across 18 drill holes in fall 2025 at the Elm and
Alder Zones as well as at Aspen, a new target:
• Exceptional high-grade intercept of 10.89 g/t Au over 31.5 metres core length, including 41.0 g/t Au over 5.4 m, from
59.0 metres depth in hole WL-25-100 (Elm Zone).
• Shallow high-grade intercepts including 6.16 g/t Au over 4.1 metres from 5.1 metres depth, including 20.96 g/t Au over 1
metre, highlighting near-surface gold mineralization in hole WL-25-95 (Alder Zone).
• Elm Zone prospect now interpreted as an approximately 300 metres along-strike by 100 metres down-dip mineralized
gold corridor, demonstrating meaningful scale and resource potential.
• Drilling confirms continuity of high-grade quartz-sulphide gold veins, with alteration halos suggesting a larger
hydrothermal system.
• Successful first-pass drill test at new Aspen Target returned anomalous gold values up to 0.57 g/t Au in hole WL-25-99,
expanding the known extent of mineralized veining.
Wilding Gold Project Fall 2025 Drill Highlights* (Table 1)
Drill Hole From (m) To (m) Length (m)* Au (g/t)
WL-25-100 59.0 90.5 31.5 10.89
including 61.35 66.75 5.4 41.00
including 75.9 87.95 12.05 5.66
WL-25-101 14.2 20.8 6.6 8.22
Including 15.35 17.5 2.15 24.74
WL-25-95 5.1 9.2 4.1 6.16
including 6.2 7.2 1 20.96
WL-25-90 58.3 60.3 2 8.41
including 59.3 60.3 1 13.74
WL-25-93 7.4 11.65 4.25 2.59
*All reported intervals are downhole lengths. True widths have not yet been determined. Based on current structural
interpretations, mineralized intervals in holes WL-25-90, WL-25-100, and WL-25-101 are interpreted to represent shallow-angle
intersections of quartz-sulphide veins. As a result, reported downhole lengths may be significantly greater than true vein
widths, however, additional drilling is required to make an accurate interpretation of true widths.
Drill Result Analysis
The fall 2025 drill program was designed to test for stacked extensional quartz-gold-tourmaline-pyrite vein packages along the
known shear zones, testing geometries not previously drilled and new targets stemming from 2025 fieldwork and prospecting
results (see September 8 and November 3, 2025 news releases). A key objective of the program was to test the “extensional
vein set” concept and evaluate whether multiple vein orientations and stacked vein packages contribute to grade and continuity
within the Wilding system. A total of 1,243.5 m of HQ core drilling was completed across 18 drill holes at the Elm and Alder
zones and at a new target, Aspen.
In addition to confirming high-grade gold mineralization, the Fall 2025 drill program substantially expanded the interpreted
alteration footprint at both the Elm and Alder zones. Widespread quartz-tourmaline-pyrite alteration was intersected beyond
previously defined vein corridors, indicating a larger and more continuous hydrothermal system than previously recognized. At
Elm, alteration envelopes extend laterally and vertically beyond high-grade intercepts in WL-25-100 and WL-25-101, while at
Alder, multiple holes intersected consistent alteration even where vein thickness or grade was reduced. These results suggest
that alteration mapping provides an effective vector toward mineralized structures and materially increases the prospective
footprint of both systems.
Figure 1. Quartz-Tourmaline-Sulphide Vein with sheared altered Rogerson Lake conglomerate at Elm Zone in hole WL-25-101.
Hole WL-25-100 was designed to test the extensional veins in the immediate hanging wall of the known Elm vein system;
however, the hole intersected the vein. The 31.5 m downhole interval (10.89 g/t Au) is interpreted to represent a low-angle
intersection of the Elm vein system, which can result in an apparent thickness significantly greater than true vein width. True
widths will be refined with additional drilling and structural measurements.
Hole WL-25-99 tested a new geophysical IP target area interpreted to be the potential northeast extension of the Alder Zone
named the Aspen Target. This hole intersected vein material and associated hydrothermal alteration consistent with that
observed at the established Elm and Alder Zones, further supporting the interpretation that alteration halos may extend beyond
currently defined gold intercepts. Initial results reported anomalous gold grades up to 0.57 g/t Au and represent a successful
first test of Aspen.
Results from WL-25-100 and WL-25-101 provide additional support for continuity of the Elm Zone vein system, as gold grades
are consistently elevated where quartz-sulphide vein material and associated alteration are present. Together, these holes
demonstrate repeatability of mineralization style and grade association within the Elm corridor and will be used to refine
targeting for follow-up drilling.
Figure 2. Plan view of Wilding Project 2025 Drill Program
Figure 3. Cross Section of Elm Zone.
Table 2. Drill Collar details from this press release. Coordinates are given in UTM NAD 83 Zone 21 N.
Hole number Azimuth (°) Dip (°) Length (m) Northing Easting Prospect
WL-25-102 325 -45 41 5367977 517368 Alder
WL-25-101 180 -61 38 5368220 518353 Elm
WL-25-100 180 -44 96.5 5368220 518353 Elm
WL-25-99 136 -45 107 5368460 518225 Aspen
WL-25-98 164.5 -45 53 5368001 517356 Alder
WL-25-97 308 -45 47 5368033 517376 Alder
WL-25-96 42 -45 83 5367970 517338 Alder
WL-25-95 343 -45 53 5367963 517352 Alder
WL-25-94 329 -60 59 5368011 517378 Alder
WL-25-93 300 -44 74 5367991 517366 Alder
WL-25-92 190 -45 71 5367991 517358 Alder
WL-25-91 10 -45 86 5367991 517358 Alder
WL-25-90 188 -45 107 5368212 518341 Elm
WL-25-89 191 -43 71 5368226 518344 Elm
WL-25-88 188 -45 65 5368259 518418 Elm
WL-25-87 122 -44 50 5368268 518437 Elm
WL-25-86 202 -44 62 5368267 518436 Elm
WL-25-85 188 -43.5 80 5368223 518335 Elm
Table 3. Summary Gold Assay Results
Drill Hole From (m) To (m) Length (m)* Au (g/t) Prospect
WL-25-86 No Significant Values Elm
WL-25-87 No Significant Values Elm
WL-25-88 No Significant Values Elm
WL-25-89 48.4 49.6 1.2 3.09 Elm
WL-25-90 52.7 53.7 1 2.54 Elm
and 58.3 60.3 2 8.41 Elm
including 59.3 60.3 1 13.74 Elm
WL-25-91 16.7 17.7 1 1.90 Alder
WL-25-92 No Significant Values Alder
WL-25-93 7.4 11.65 4.25 2.59 Alder
and 19.2 20.2 1 1.23 Alder
WL-25-94 14.9 15.9 1 1.11 Alder
WL-25-95 5.1 9.2 4.1 6.16 Alder
including 6.2 7.2 1 20.96 Alder
and 18.4 20.85 2.45 1.90 Alder
WL-25-96 18.8 20.8 2 1.48 Alder
WL-25-97 14.4 15.5 1.1 0.98 Alder
WL-25-98 No Significant Values Alder
WL-25-99 95.4 96.9 1.5 0.57 Aspen
WL-25-100 59. 0 90.5 31.5 10.89 Elm
including 61.35 66.75 5.4 41.00 Elm
including 62.35 65.7 3.35 46.50 Elm
including 75.9 87.95 12.05 5.66 Elm
WL-25-101 14.2 20.8 6.6 8.22 Elm
Including 15.35 17.5 2.15 24.74 Elm
WL-25-102 10.85 15.2 4.35 1.18 Alder
including 11.95 12.95 1 3.75 Alder
* All reported intersections are downhole lengths. True widths have not yet been determined. At the Elm Prospect, mineralized
intervals are interpreted to represent low-angle intersections of the primary vein system, with multiple secondary vein
orientations locally observed in drill core. This geometry may result in apparent interval thicknesses that exceed true vein
widths.
Structural interpretations suggest that reported intervals in holes WL-25-90, WL-25-100, and WL-25-101 reflect shallow-angle
intersections of high-grade veins, supporting vertical continuity and the potential for stacked mineralized structures. Estimated
true widths are interpreted to be approximately 5–30% (WL-25-90, WL-25-100) and 20–45% (WL-25-101) of the reported
downhole lengths.
Next Steps
Based on the encouraging results, the Company is planning follow-up drilling; both diamond drilling top of bedrock/base of till
drilling to better constrain vein orientation, true width, and continuity. Follow-up holes are expected to:
• map the potential extent of this hydrothermal system between Alder, Elm and Aspen zones and beyond
• Intersect the interpreted vein(s) at a higher angle to better define true thickness.
• Test down-plunge and along-strike continuity suggested by the low-angle intersection.
• Test new vein concepts and follow up of the encouraging Aspen Zone discovery
• Systematically vectoring follow-up drilling using the expanded alteration footprint at Elm, Alder, and Aspen to test for
higher-grade vein development within a larger mineralized system.
This planned follow-up drilling program is designed to rapidly advance the Wilding by improving confidence in vein geometry,
continuity, and scale. These efforts are expected to support future resource delineation and enhance the project’s strategic
value within the central Newfoundland gold district.
Figure 4. Map of Canterra Newfoundland Central Mining District Projects
Sampling and Analytical Methods
HQ drill core (63.5 mm diameter) was logged, photographed, and sampled at the Company’s secure core facility in
Newfoundland. Core for sampling was selected by Canterra geologists with respect to lithological boundaries and
mineralization and sawn in half, with one half retained for reference. Samples were delivered by Canterra personnel to Eastern
Analytical Ltd. laboratory in Springdale, Newfoundland for preparation and analysis. Eastern Analytical is an independent
accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples were analyzed using Eastern's gold fire
assay (Au-FAA30) method with atomic absorption finish. Samples returning elevated gold values >1g/t were re-analyzed with
gravimetric finish. All reported assays are uncut. The Company maintains a quality assurance/quality control program that
includes the insertion of certified reference materials, blanks, and duplicates. QAQC samples account for a minimum of 5% of
the samples in addition to the laboratory’s internal quality assurance programs.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Christopher Pennimpede,
P.Geo., President and CEO of Canterra Minerals Corporation, who is a Qualified Person as defined under National Instrument
43-101.
Newfoundland and Labrador Junior Exploration Assistance & 2025 Exploration Program
Canterra would like to acknowledge the financial support it may receive from the Junior Exploration Assistance Program from
the government of Newfoundland and Labrador related to the completion of its 2025 exploration programs.
About Canterra Minerals
Canterra is a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. The
Company’s projects include six 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 Reserves. Canterra’s gold projects are located on-trend of Equinox Gold’s producing Valentine Mine and cover a
~55 km extension of the same interpreted structural corridor that hosts mineralization within Equinox Gold’s mine project.
Drilling within the Wilding gold projects intersected multiple occurrences of orogenic-style gold mineralization within a large
land position that remains underexplored.
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]
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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
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