Leading Strategic Junior Mining Investor Michael Gentile Acquires 19.99% Stake IN Magna Terra
LEADING STRATEGIC JUNIOR MINING INVESTOR MICHAEL GENTILE ACQUIRES
19.99% STAKE IN MAGNA TERRA
Toronto, Ontario – December 4, 2024 – Magna Terra Minerals Inc . (the “Company” or “Magna Terra”) (TSX-
V: MTT) is pleased to announce that Michael Gentile has acquired a 19.99% ownership stake in the Company via an
open market share purchase.
Mr. Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant top five
ownership stakes in over 20 small-cap mining and mining exploration companies.
He is currently a director of Group Eleven Resources (TSX-V: ZNG), Northern Superior Resources ( TSX-V: SUP),
OnGold (TSX-V: ONAU), Radisson Mining Resources ( TSX-V: RDS), Roscan Gold ( TSX-V: ROS), and Solstice
Gold (TSX-V: SGC), and a Strategic Advisor to Northisle Copper and Gold (TSX-V: NCX).
Mr. Gentile recently co-founded Bastion Asset Management in January 2022, a rapidly growing money management
firm in Montreal with over $450 million in assets under management, focused on small to mid-cap equities in the USA
and Canada. Mr. Gentile was previously a Vice President and Senior Portfolio Manager with Formula Growth Limited
where he worked from 2002 to 2018.
"On behalf of the Company and its minority shareholders, we are very pleased to have Michael increase his stake in
our Company to become our largest shareholder. Michael’s track record, as a successful serial investor in the junior
mining sector is unparalleled. He has been a supportive minority shareholder since 2020, and we are delighted today
that he has acquired this share block recognizing the significant valuation upside inherent in the Company , and its
diverse project and underlying asset portfolio. Michael’s deep capital markets background will assist us in unlocking
this value, as well as generating greater visibility with a broader investor audience.”
~ Lew Lawrick – President & CEO
Mr. Gentile stated: "Magna Terra is a compelling opportunity with a $2 million market cap, a +10% share ownership
in Gold Hunter Resources (CSE: HUNT) with a market value of approximately $500k and cash and option payments
due to the Company from two earn-in agreements with Gold Hunter and Newmont totalling approximately $10 million
over the next 2-3 years.
The recently staked Humber Cu-Co Project adds additional upside to the opportunity in one of my favourite global
mining jurisdictions of Newfoundland and Labrador.
The management team of MTT is hi ghly aligned with shareholders and runs a very tight line on cost control. I look
forward to working with management to surface additional value and create awareness of the opportunity present
here at Magna Terra.”
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 minimiz ing 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 Project in Newfoundland and Labrador 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. for total cash and share consideration of $9.5 million
over a 2-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz,
Argentina which includes its Boleadora Project being advanced by Newmont Corp. under an option to purchase
agreement valued at US$1 million in cash over a 6-year period and including a 2% NSR capped at U S$20 million; a
precious metals discovery on its Luna Roja Project proximal to Cerrado Gold’s operating Don Nicholas Project
infrastructure, 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 Regulation 43 -101. Although the Co mpany 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 exp ressions,
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 o r 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 pe rformance 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 ma de by the
Company with Canadian securities regulatory authorities under the Company's profile at www.sedar.com. 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
905-301-9983
Email: [email protected]
Website: www.magnaterraminerals.com