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CanterraMineralsIntersects60.7Metresof0.85%CopperEquivalentattheBuchansProject,Newfoundland
Vancouver, B.C. (June 23, 2025) – Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB)
(“Canterra” or the “Company”) is excited to report new drill results from its ongoing 10,000 metre drill program at
its 100% owned Buchans Project, located in Newfoundland’s prolific Central Mining District. The project sits in a
provenminingdistrict,just50kmnorthofEquinoxGold’sValentineGoldMineand34kmnorthwestofTeck’spast
producingDuckPondMine( Figure4).
DrillholeH-25-3538DeliversLong,High-GradeInterval (1&2):
60.70metresgrading0.85%CuEq (0.39%Cu,1.00%Zn,0.55%Pb,2.5g/tAg&0.03g/tAu)fromjust15.3
mto76mbelowsurface
including4.7metresof2.29%CuEq (1.19%Cu,2.25%Zn,1.27%Pb,9.3g/tAg&0.06g/tAu)
Broad sulphide stockwork mineralization extends below the current resource, suggesting potential for
largeropenpitmineralresource
Resultsconfirmstrongcopperdistribution,anincreasinglyvaluablecomponentoftheLundbergdeposit
The60.7-metreintersectionisoneofthelongestcontinuousmineralizedintervalsdrilledontheprojectto
date
Chris Pennimpede, President and CEO of Canterra commented:“We are off to a fantastic start in the 2025 drill
season. These latest results show copper-rich mineralization well outside the existing resource area—exactly what
we want to see as we aim to grow the Lundberg deposit. Importantly, the existing resource was based on a
conservative copper price of just US$3.00/lb, well below today’s much stronger copper market price. With 8,000
metres of drilling still to come this summer and fall, we’re excited about the upside potential at Buchans.”
Table1. AssayHighlights . Copper Equivalents (CuEq%) as per metal prices of April 11, 2025 (see notes2 & 3 at end of release
for additional explanation; holes H-25-3539 and H-25-3537 previously released May20, 2025 and June 3, 2025).
Hole
From
(m) To(m)
Width
(m) Cu% Zn% Pb% Agg/t Au g/t
*CuEq
(%) Comments
H-25-3539 145.95 151.30 5.35 1.05 7.17 4.63 140.0 0.88 6.77 TwoLevel
incl. 146.95 148.95 2.00 1.43 10.91 6.58 151.0 0.97 8.88 ""
and 225.00 243.00 18.00 0.52 1.13 0.63 3.7 0.04 1.07 Lundberg
incl. 229.00 237.00 8.00 0.67 1.31 0.78 4.7 0.04 1.31 ""
H-25-3538 15.30 76.00 60.70 0.39 1.00 0.55 2.5 0.03 0.85 Lundberg
incl. 15.30 20.00 4.70 1.19 2.25 1.27 9.3 0.06 2.29 ""
H-25-3537 8.00 76.00 68.00 0.50 1.00 0.43 3.5 0.06 0.99 Lundberg
incl. 8.00 19.00 11.00 0.63 3.22 1.62 6.9 0.14 2.14 ""
incl. 29.00 37.00 8.00 1.47 0.39 0.14 4.8 0.06 1.74 ""
and 93.00 108.00 15.00 0.18 1.75 1.19 2.8 0.03 1.01 ""
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Figure1. Buchans2025drillingcollarsandassayhighlights.
Figure2. CrossSectionforH-25-3538(lookingwest).
DrillResultsAnalysis
ThelatestdrillresultsfromholeH-25-3538furtherdemonstratetherobustandcontinuousmineralizationofthe
Lundbergdeposit.Thestandout60.7-metreintersectiongrading0.85%copperequivalent,startingjust15.3
metresbelowsurface,isoneofthelongestmineralizedinterceptsencounteredtodate(Figure2)andhighlights
thenear-surfacepotentialidealforopen-pitdevelopment.Thisbuildsonthepreviouslyannounced68-metre
intervalof1.0%copperequivalentfromsurfaceinholeH-25-3537(June2025),reinforcingaconsistentpatternof
broad,high-grademineralizationnearsurfaceacrossthedeposit(Figure3).
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Figure3. CrossSectionforH-25-3537previouslyreportedassays(lookingwest).
BuchansProject
Canterra’s Buchans Project spans 95 km² near the town of Buchans and hosts both the world-renowned, past-
producing Buchans Mine and the undeveloped Lundberg deposit. The historic Buchans Mine, operated by Asarco
from 1928 to 1984, was one of the highest-grade base metal producers of its time. Adjacent to this legacy, the
Lundberg deposit represents a significant undeveloped VMS resource, characterized by near-surface stockwork
sulphidemineralization—well-suitedforopen-pitdevelopmentinaprovenminingdistrict.
Table2:LundbergDepositMineralResourceEstimate–EffectiveDate:February28,2019
NSRCut-off($US/t) Category Tonnes Cu% Zn% Pb% Agg/t Aug/t NSR($US/t)
20
Indicated 16,790,000 0.42 1.53 0.64 5.69 0.07 54.98
Inferred 380,000 0.36 2.03 1.01 22.35 0.31 72.95
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Figure 4. Canterra’s Central Newfoundland Mining District properties.
Notes:
(1) PastproductionfiguresfromKirkham,R.V.,ed.,1987, Buchans Geology, Newfoundland. GeologicalSurveyofCanada,
Paper86-24,288p.
(2) True widths estimated to be a ~90% of reported core lengths. Copper equivalents (CuEq) based on total contained
copper,zinc,lead,silverandgoldandmetalpricesasofApril11,2025(Cu-US$4.06/lb,Zn-US$1.19/lb,Pb-US$0.85/lb,
Ag-US$32.23/ozandAu-US$3,236.00/oz).
(3) CopperEquivalent%=Cu%+((Pb%*22.046*PbRec.*Pbprice)+(Zn%*22.046*ZnRec.*Znprice)+(Agg/t/31.10348
* Ag Rec. * Ag price) + (Au g/t/31.10348 * Au Rec. * Au Price))/(Cu Price * 22.046 * Cu Rec.). Metal recoveries are
assumedtobe100%(Rec.)
(4) Lundberg’s 2019 Resource Estimate (effective date of February 28, 2019) includes In-pit Indicated Mineral Resources
16,790,000tonnesgradingof0.42%Cu,1.53%Zn,0.64%Pb,5.69g/tAg&0.07g/tAuaswellasIn-pitInferredMineral
Resources totaling 380,000 tonnes at a grade of 0.36% Cu, 2.03% Zn, 1.01% Pb, 22.35 g/t Ag & 0.31 g/t Au; see news
releasedated June4,2024 andassociatedTechnicalReportforadditionaldetails).
Table2. Drillcollarlocations.
Hole Length(m) Azimuth Dip Northing(UTM
NAD83Zone21)
Easting(UTM
NAD83Zone21)
H-25-3537 121 0 -90 5,407,849 509,973
H-25-3538 95 0 -90 5,407,926 510,081
H-25-3539 247 180 -62 5,408,145 509,725
NewfoundlandandLabradorJuniorExplorationAssistance
Canterra would like to acknowledge financial support it may receive from the government of Newfoundland and
Labrador’sJuniorExplorationAssistanceProgramrelatedtocompletionofits2025explorationprogramsatBuchans.
AboutCanterraMinerals
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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,pastproducingBuchansMineandTeckResources’DuckPondMine,whichcollectivelyproducedcopper,
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 current at their respective effective
dates.Canterra’sgoldprojectsare locatedon-trendofEquinoxGold’sValentine mine currently under construction
and cover a ~60 km extension of the same structural corridor that hosts mineralization within Equinox Gold’s mine
project.PastdrillingbyCanterraandotherswithintheCompany’sgoldprojectsintersectedmultipleoccurrencesof
orogenic-stylegoldmineralizationwithinalargelandpositionthatremainsunderexplored.
QA/QCProtocols
Samplesconsistofsaw-cut(NQdrillcore)withone-halfretainedforreferenceandone-halfsubmittedforanalyses.
SamplesweresubmittedinsealedplasticbagsdeliveredbyCanterrapersonneltoSGSCanada’spreparatoryfacility
in Grand Falls-Windsor, Newfoundland. Sample batches consisted of core samples, control standards, blanks and
duplicates.Onceprepared,pulps(SGSprocedurecodePRP89)wereshippedtoSGSCanada'slaboratoryinBurnaby,
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_AAS22E50 for Ag by-2-acid
digestionbyAAS,andGE_FAA30V5forAuby30gFireAssaybyAAS).Overlimitassayswerecompletedasnecessary
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
ofCanada(SCC)forspecificmineraltestslistedonthescopeofaccreditationtotheISO/IEC17025standard.Further
details regarding SGS procedures are available atSGS Analytical Methods. Canterra also submits representative
pulpstoALSGeochemistry’slaboratoryinMonctonNewBrunswickfor additionalindependentcheckassays.
QualifiedPerson
Paul Moore MSc. P.Geo. (NL), Vice President of Exploration for Canterra Minerals Corporation, a Qualified Person
withinthemeaningofNationalInstrument43-101,hasreviewedandapprovedthetechnicaldisclosureinthisnews
release.
ONBEHALFOFTHEBOARDOFCANTERRAMINERALSCORPORATION
ChrisPennimpede
President&CEO
AdditionalinformationabouttheCompanyisavailableat www.canterraminerals.com
Forfurtherinformation,pleasecontact:+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.
CautionaryNoteRegardingForward-LookingInformation
Thispressreleasecontainsstatementsthatconstitute“forward-lookinginformation”(collectively,“forward-lookingstatements”)
within the meaning of the applicable Canadian securities legislation, including statements with respect to estimated mineral
resources,theopeningofavenuesforsubstantialdiscoverieswithinthebelt,theBuchansProjectbeingripeforamodernapproach
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.ExcepttotheextentrequiredbyapplicablesecuritieslawsandthepoliciesoftheTSXVentureExchange,theCompany
undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other
factors,shouldchange.Factorsthatcouldcausefutureresultstodiffermateriallyfromthoseanticipatedintheseforward-looking
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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
permittingandothergovernmentalclearancesnecessarytocarryouttheCompany’sexplorationplans,theriskthattheCompany
willnotbeabletoraisesufficientfundstocarryoutitsbusinessplans,andtheriskofpoliticaluncertaintiesandregulatoryorlegal
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.