Magna Terra Increases Land Position and Initiates Exploration at Great Northern and Viking Projects
MAGNA TERRA INCREASES LAND POSITION AND INITIATES EXPLORATION
AT GREAT NORTHERN AND VIKING PROJECTS
Toronto, Ontario – August 20, 2020 – Magna Terra Minerals Inc. (the “Company” or “Magna Terra”) (TSX-V: MTT)
is pleased to announce that it has expanded the Great Northern (“Great Northern”) and Viking (“Viking”) Projects,
located in Western Newfoundland via a combination of staking and an option agreement. The acquisition of these 5
mineral licences expands the property size by 2,900 hectares (30%) and adds additional strategic exploration targets
in areas of known gold potential (Exhibit A). The Company has also initiated a systematic exploration program at the
Great Northern Project that comprises prospecting, geological mapping, soil sampling and geophysical surveying in
anticipation of a fall drilling program.
Project Highlights
• 12,675 hectares along 20 kilometres of strike of a regional-scale gold bearing structure - the Doucer’s Valley
Fault;
• Newly Expanded Project is host to large untested gold bearing alteration systems:
o 1.7 kilometre zone at the Jacksons Arm Trend;
o 1.4 kilometre long geochemical anomaly at Little Davis Pond Trend;
o 3+ kilometre long by up to 40 metre wide deformation and alteration zone at the Viking Trend;
• Host to existing Mineral Resources including:
o An Inferred Mineral Resource Estimate of 5,460,000 tonnes at an average grade of 1.45 grams per
tonne (“g/t”) gold containing 255,000 contained ounces at a cut -off grade of 1.0 g/t gold at the
Rattling Brook Deposit; and
o An Historical Indicated Miner al Resource of 937,000 tonnes at an average grade of 2.09 g/t gold
containing 63,000 ounces of gold plus an Historical Inferred Mineral Resource of 350,000 tonnes at
an average grade of 1.79 g/t gold containing 20,000 ounces of gold at a cut-off grade of 1.0 g/t gold
at the Thor Deposit.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All Mineral Resource
Estimates were prepared in accordance with NI 43 -101 and the CIM Standards (2014). Please refer to the NI 43- 101
Technical Report with effective date January 23, 2019 by Harrington and Cullen (2019) as detailed below for the
Great Northern Project and the NI 43 -101 Technical Report with effective date August 29, 2016 by Copeland et al.
(2016) as detailed below for the Viking Project. An Independent Qualified Person has not carried out sufficient work
to classify the Thor Historical Mineral Resource Estimate as current and Magna Terra is not considering this Mineral
Resource Estimate to be current. Magna Terra considers the Thor Deposit to have potential for expansion that will be
addressed by the Company in future exploration programs. See further details on Technical Reports below.
“We are pleased to follow -up our recent acquisition of the Great Northern and Viking Project s with the strategic
expansion of the property, acquiring additional untested gold bearing zones. These new, low-cost, acquisitions include
land adjacent to the Rattling Brook Deposit , along strike from the J acksons Arm Prospect , and at the Little Davis
Pond Prospect that add substantial value. We have initiated a systematic geological, geochemical and geophysical
program at Great Northern geared towards developing a fall drilling program on priority targets that will support
continued news flow over the coming months.”
~ Lew Lawrick, President and CEO, Magna Terra Minerals
Acquisition Details
At the Great Northern Project , 1 mineral licence ( 35 claims, 875 hectares) was acquired via map staking along the
strike extension of the Jacksons Arm Trend. An additional 3 mineral licences (13 claims, 325 hectares) were acquired
via an option agreement with a local prospector (“Vendor”), covering the along strike extension of the Rattling Brook
Deposit. Under terms of the agreement the Company can earn a 100% interest in the option by paying to the Vendor
a total of $30,000 and issuing $15,000 in MTT shares (subject to TSX -V and regulatory approval) or pay $15,000 in
cash over a 2-year period. The Property is subject to a 2% Net Smelter Return Royalty (“NSR”) payable to the Vendor
with 1% NSR purchasable by MTT for $1,000,000 and right of first refusal on the remaining 1% NSR.
At the Viking Project 1 mineral licence ( 68 claims, 1,700 hectares) was acquired via map staking and covers an area
of strongly deformed and altered Silurian volcanic and sedimentary rocks that are host to a 1.4 kilometre long
geochemical anomaly (soil assays up to 530 ppb gold, and rock assays up to 22.15 g/t gold) from historic sampling at
the Little Davis Pond Trend.
Exploration Program
The Company has started a systematic exploration program focussed on the Great Northern Project that will comprise
collection of 1,600 B -horizon soil samples, systematic prospecting and geol ogical mapping, ground Induced
Polarization (“IP”) and magnetic geophysical and airborne magnetic and electromagnetic surveys. The initial
exploration program will be followed up with trenching and diamond drilling of priority targets in late 2020. The
current program will initially focus on the Jacksons Arm Trend targeting the extension of a 1.7 km long by 40 to 400
m wide continuous alteration zone.
The Company has critically considered logistical matters given the ongoing COVID -19 pandemic, to ensure that this
Exploration Program and all future programs are executed in a way that ensures the absolute health and safety of our
personnel, contractors, and the communities where we operate.
The Company would like to thank the Government of Newfoundland and Labrador for partial funding of the
exploration program under the Junior Exploration Assistance Program.
About the Great Northern and Viking Projects
The Great Northern and Viking Projects comprise 2 separate claim blocks ( 12,675 hectares) that are located near the
communities of Sops Arm, Pollard’s Point and Jackson’s Arm, NL.
The Projects are centered along the Doucer’s Valley Fault, a significant geological control on, and host to, several
gold deposits and untested prospects, including the Rattling Brook and the Thor Deposits, Jacksons Arm, Little Davis
Pond, and Viking Trends and the Incinerator Trail Zone. Gold mineralization is hosted within a variety of rocks types
that include Precambrian or Ordovician granites , or younger volcanic and sedimentary r ocks, typically along splays
off the Doucer’s Valley Fault. Alteration consists of mesothermal style quartz ± iron carbonate ± sulfide veins and
stockworks with 2 to 5% total sulfides consisting of pyrite, galena, chalcopyrite or sphalerite, and locally show trace
amounts of visible gold.
The Jacksons Arm Trend is host to a 1.7 km long by 40 to 400 m wide continuous alteration zone, that is controlled
by a north- south striking fault. The fault extends immediately to the north along strike with sim ilar repeating fault
zones to the east outlining a potential strike extent of an additional 4 kilometres.
Highlights of previous surface grab samples** include:
• Assays up to 20.2 g/t gold and 1,232 g/t silver at the Boot N’ Hammer Prospect;
• Assays up to 56.7 g/t gold and 2.75 ounce per tonne silver at the Stocker Prospect;
• Assays up to 7.2 g/t gold at the Shrik Prospect; and
• Assays up to 13.6 g/t gold at the 954 Prospect.
**Grab samples are selected samples and are not necessarily indicative of mineralization that may be hosted on
the property.
The Little Davis Pond Trend is underlain by strongly deformed and altered Silurian volcanic and sedimentary rocks
that are host to a 1.4 kilometre long geochemical anomaly (soil assays up to 530 ppb gold, and rock assays up to 22.15
g/t gold) from historic sampling.
The Incinerator Trail Zone has been tested by four reconnaissance-style diamond drill holes in the 1980’s and returned
assays of 1.78 g/t gold over 4.0 m (hole RB-35) and 2.30 g/t gold over 4.05 m (hole RB-41).
The Viking Trend is host to a 3+ kilometre long by up to 40 metre wide deformation and alteration zone with gold
grades of 0.45 g/t Au over 20.0 m in hole VK -16-151, 0.37 g/t Au over 16.5 m in hole VK -11-125, as well as local
high grades as indicated by 7.43 g/t Au over 1.0 m in hole VK-16-155.
Qualified Person and Technical Reports
This news release has been reviewed and approved by David A. Copeland, P. Geo., Chief Geologist with Anaconda
Mining Inc., a "Qualified Person", under National Instrument 43-101 - Standard for Disclosure for Mineral Projects.
Widths from drill core intervals reported in this press release are presented as core lengths only. True widths are
unknown. All quoted drill core sample intervals, grades and production statistics have been compiled from historic
assessment reports obtained from either the Government of Newfoundland and Labrador.
^The Mineral Resource Estimate quoted in this press release regarding the Great Northern Project refers to the
technical report: “NI 43 -101 Technical Report and Updated Mineral Resource Estimate on the Rattling Brook Gold
Deposit, Great Northern Project, White Bay Area, Newfoundland, Canada”, (the “Great Northern Report”) with an
effective date of January 23, 2019, and authored by Matthew Harrington, P.Geo. (Independent Qualified Person) and
Michael Cullen, P.Geo. (Independent Qualified Person).
^^The Historical Mineral Resource Estimate quoted in this press release regarding the Viking Project (Thor Deposit)
is tak en from the technical report: “NI 43 -101 Technical Report And Mineral Resource Estimate For The Thor
Deposit, Viking Project, White Bay Area, Newfoundland and Labrador, Canada, Latitude 49o 42′ N Longitude 57o
00′ W” prepared for Anaconda Mining Inc. by David A. Copeland, P.Geo., Dr. Shane Ebert, P. Geo. and Gary Giroux,
P. Eng. M.ASc., August 29, 2016. An Independent Qualified Person has not carried out sufficient work to classify the
Thor Historical Mineral Resource Estimate as current and Magna Terra is not considering this Mineral Resource
Estimate to be current. Magna Terra considers the Thor Deposit to have potential for expansion that will be addressed
by the Company in future exploration programs.
About Magna Terra
Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada.
Magna Terra owns two district -scale, advanced gold exploration projects in the world class 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 precious metals discovery on its Luna Roja Project, as
well as an extensive portfolio of district scale drill ready projects available for option or joint venture.
Forward Looking Statements
Neither 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
Some statements in this release may contain forward-looking information. All statements, other than of historical fact,
that address activities, events or developments that the Company believes, expects or anticipates will or may occur in
the future (including, without limitation, statements regarding potential mineralization) are forward- looking
statements. Forward -looking statements are generally identifiable by use of t he words “may”, “will”, “should”,
“continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these
words or other variations on these words or comparable terminology. Forward- looking statements are subject t o a
number of risks and uncertainties, many of which are beyond the Company’s ability to control or predict, that may
cause the actual results of the Company to differ materially from those discussed in the forward- looking statements.
Factors that could cause actual results or events to differ materially from current expectations include, among other
things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration
results will not be consistent with the C ompany's expectations, changes in world gold markets or markets for other
commodities, and other risks disclosed in the Company’s public disclosure record on file with the relevant securities
regulatory authorities. Any forward- looking statement speaks onl y as of the date on which it is made and except as
may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-
looking statement.
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
Exhibit A: Great Northern and Viking Project acquisitions, property geology and gold occurrences