Magna Terra Announces Receipt of Final Payment FOR Noyell Option Agreement

MAGNA TERRA ANNOUNCES RECEIPT OF FINAL PAYMENT FOR NOYELL OPTION

AGREEMENT

Toronto, Ontario – May 16, 2024 – Magna Terra Minerals Inc . (the “Company” or “Magna Terra”) (TSX-V:

MTT) is pleased to announce that pursuant to an o ption agreement with Opus One Gold Corporation (“Opus One”)

regarding the Noyell Project (see press release dated April 12, 2019), Magna Terra has received the fifth and final

anniversary option payment of $ 200,000, which completes Opus One’s requirements to earn a 100% ownership

interest in the Noyell Project per the terms of the option agreement.

About Magna Terra

Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada.

Magna Terra owns two district -scale, resource stage gold exploration projects in the top -tier mining jurisdictions of

New Brunswick and Newfoundland and Labrador. 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; a precious metals discovery on its Luna Roja Project proximal to Cerrado

Gold’s operating Don Nicholas Project, as well as several additional district scale drill ready projects available for

purchase or option/joint venture.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Magna Terra Minerals Inc.

Lewis Lawrick

President and CEO, Director

647-478-5307

Email: [email protected]

Website: www.magnaterraminerals.com