Magna Terra Partner Lunex Metals Advances Exploration and Launches Drill Program at the Luna Roja Project in Santa Cruz, Argentina
Magna Terra Partner Lunex Metals Advances
Exploration and Launches Drill Program at the
Luna Roja Project in Santa Cruz, Argentina
Toronto, Ontario--(Newsfile Corp. - February 12, 2026) -
Magna Terra Minerals Inc.
(TSXV:
MTT)
("
Magna Terra
" or the "
Company
") is pleased to announce that project partner
Lunex Metals
Corp.
("
Lunex
"; formerly Andean Metals Corp.) has commenced a 3,000-metre drill program on the
Luna Roja Project ("
Luna Roja
" or the "
Project
"), located in Santa Cruz Province, Argentina (
Figure 1
).
Since optioning the Luna Roja Project from Magna Terra in October 2025, Lunex has carried out
prospecting, geological mapping, and ground geophysical surveys that have identified priority targets
that will be tested in this drill campaign. Exploration to date has included the collection of 31 rock chip
and 23 channel samples, as well as 330.04-line kilometres of ground magnetic surveying.
Rock chip and channel sampling resulted in the discovery of high-grade gold and silver mineralization
with assays up to
13.26 g/t gold and 1,155 g/t silver
. Rock samples ranged from <0.01 g/t gold to
13.26 g/t gold with 7 of the 54 samples assaying over 1 g/t gold; and ranged from <0.01 g/t silver to
1,155 g/t silver with 40 of the 54 samples assaying greater than 1 g/t silver. Notably two of the highest-
grade samples (samples 1004 and 1005) assayed for elevated mercury (Hg) with values of 5,896 ppb
and 4,686 ppb, a key pathfinder for gold mineralization within low-sulphidation epithermal systems.
At the south end of Estrella del Norte, 3 channel samples were collected that assayed 1.97 g/t gold and
7.2 g/t silver over 1.0 metre, 4.02 g/t gold and 4.03 g/t silver over 1.0 metre; and 13.26 g/t gold and 8.2
g/t silver over 1.0 metre from an outcrop of altered rhyolitic dome rocks with fine disseminated sulphides
and stockwork-style mineralization
(Figure 2)
.
At Cruz del Sur, at the south end of the Via Láctea Fault, chip samples were collected that assayed 1.65
g/t gold and 1,155 g/t silver over 1.0 metre and 1.48 g/t gold and 241 g/t silver over 1.0 metre from
hydrothermal breccia with quartz-adularia- sericite alteration
(Figure 2)
.
Luna Roja Project Highlights
~10,000 hectares in 3 exploration licenses.
Accessible year-round via road access from Fitz Roy located 80 km to the northeast.
Centered along a 2.8 km section of the northwest striking Via Láctea Fault lying just 75 km
northwest of Cerrado Gold's Minera Don Nicholas Mine infrastructure and 30 km north-northwest of
the Los Calandrias mining and exploration tenements.
2019 discovery hole drilled by Magna Terra - LR DDH002 intersected
75.0 m of 0.62 g/t gold
and 5.6 g/t silver
(from 37.0 m to 112.0 m).
The deepest part of the zone, which is oxidized,
included 42.0 m of 1.01 g/t gold and 4.6 g/t silver
(from 68.0 m to 110.0 m),
suggesting
increased grade with depth
.
A 3 km x 800 m striking gold trend underlain by anomalous soil geochemistry and Induced
Polarization ("
IP
") geophysical signature.
Multiple drill ready targets in three distinct surface mineralized horizons including the Estrella del
Norte, Orion, Cruz del Sur, and Signos target areas.
"We are very excited that Lunex has advanced Luna Roja so quickly to a preliminary drill program
testing priority targets generated through ground geophysical and surface geochemistry programs
carried out in late 2025, further following up on initial drill success Magna Terra had in a maiden drill
program undertaken in 2019. The current drill program is designed to test selected sectors along the
2.8 km-long Vía Láctea mineralized corridor (Estrella del Norte, Orion and Cruz del Sur sectors) and
to conduct scout drilling along the Signos Corridor (Lambda and Alpha sectors)."
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
"We are excited to have commenced our inaugural 3,000-metre drill program at Luna Roja, marking
an important milestone for Lunex as we advance this highly prospective gold-silver project in Santa
Cruz
.
The strong surface results and defined drill targets along the Vía Láctea corridor provide a solid
foundation for this first phase of drilling. As we execute our exploration strategy, we are also
progressing efforts to list our common shares on the TSX Venture Exchange in Q2 2026, positioning
Lunex for increased market visibility and access to capital as we move the Project forward."
~ Joaquin Mignaquy, CEO, Lunex Metals Corp.
Figure 1:
Location of key and mining and exploration projects in Santa Cruz Province, Argentina
including the Luna Roja Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/283639_d7895095a4ced891_002full.jpg
Figure 2:
General geology overlain by recent and previous rock sample locations from a 2.8-kilometre
section of the Via Láctea Fault, Luna Roja Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11586/283639_d7895095a4ced891_003full.jpg
Luna Roja Field Program Overview
December 2025 Geochemistry and Ground Magnetics Results
Surface chip and channel sampling confirmed historical target areas and returned high-grade gold-
silver values, including results up to 13.26 g/t gold and 1,155 g/t silver.
Quantec completed the ground magnetic survey totalling 49 lines and 330.04 km, improving the
definition of key structural trends and lithological contrasts interpreted to be associated with
epithermal mineralization.
The integrated interpretation (magnetics + mapping + geochemistry) has extended and refined drill
target areas, including corridor-scale structures and intersection zones that materially expand the
priority target set.
January 2026 Field Campaign
Completed a focused follow-up campaign to ground-truth magnetics-driven targets, confirm
structural corridors in the field, and tighten drill targeting.
Continued systematic surface work, including additional mapping and rock sampling guided by the
magnetic interpretation, with particular emphasis on newly defined target areas that were not
previously prioritized.
In parallel, the team used this campaign to prepare the site for operations, including conditioning
and organizing key components needed for drilling start-up.
Planned Drilling Program
Lunex has initiated its drilling campaign on February 7, 2026.
3,000 m drill campaign expected with the possibility to expand meterage depending on results.
During the early January field campaign, Lunex actively conditioned and prepared the operation to
ensure a smooth start, focusing on logistics, site readiness, and operational sequencing.
Lunex have begun mobilizing fundamental equipment and critical supplies to the estancia,
establishing the base conditions required for continuous field execution to support this drill
program and all further exploration work.
About the Luna Roja Project
The
Luna Roja Project
is located in the prolific Deseado Massif region of Santa Cruz Province
approximately 75 km to the northwest of the new Don Nicolas mine and 30 km to the north-northwest of
the Las Calandrias project. The Project is accessible year-round, and benefits from access to
infrastructure including roads, power, and water.
Luna Roja's geology includes rhyolitic volcanic rocks with intense silicification and hydrothermal
alteration, typical of productive low-sulphidation gold systems in the region. The Project is centred along
a 3 km section of the northwest striking Via Láctea Fault with coincident IP resistivity and chargeability
anomalies and intermittently exposed low-sulphidation epithermal Au-Ag veins and breccias.
Previous exploration work at Luna Roja includes 360 rock chip and float samples, 741 trench samples,
715 soil samples, and 17.6 line-km of IP surveying. In 2019, Magna Terra completed eight diamond drill
holes, totalling 1,184 metres, in a first phase drill program that led to the discovery of a significant gold-
silver mineralized zone at Cruz del Sur (see Magna Terra news release dated April 16, 2019).
Highlight assays from the initial drilling program include:
75.0 m of 0.62 g/t gold and 5.6 g/t silver (from 37.0 m to 112.0 m), including 42.0 m of 1.01 g/t gold
and 4.6 g/t silver (from 68.0 m to 110.0 m) in drill hole LR_DDH002; and
51.4 m of 0.26 g/t gold and 9.37 g/t silver (from 44.6 m to 96.0 m), including, 2.0 m of 1.08 g/t gold
and 79.60 g/t silver (from 62.0 m to 64.0 m) in drill hole LR-DDH001.
Exploration work to date has identified gold intercepts at shallow depths, with the potential for future
exploration to identify geologic controls to the mineralization, and to expand the mineralized footprint and
establish continuity. Luna Roja is well positioned for additional near-term discovery, potential resource
delineation and possible future development, supported by a strong regional geological framework and
positive early-stage results.
Option Agreement Details
Under the terms of the Agreement, Lunex can earn a 100% interest in the Project for total consideration
of C$2,375,000 payable in cash and Lunex common shares (see news release dated October 6, 2025)
as detailed below:
Term
Cash (C$)
Cash / Shares (C$)
Total (C$)
60-day exclusivity period (paid)
$75,000
-
$75,000
On Signing Definitive Agreement (paid)
$100,000
-
$100,000
1
st
Anniversary
$125,000
$275,000
$400,000
2
nd
Anniversary
$125,000
$375,000
$500,000
3
rd
Anniversary
$125,000
$475,000
$600,000
4
th
Anniversary
$125,000
$575,000
$700,000
TOTAL
$675,000
$1,700,000
$2,375,000
The Luna Roja Project is subject to a one percent (1%) NSR, payable to Orogen Royalties Inc.
Qualified Person and Technical Disclosure
This news release has been reviewed and approved by David A. Copeland, P.Geo., a non-independent
consultant to the Company and a "Qualified Person" as defined under National Instrument 43-101 -
Standard for Disclosure for Mineral Projects
.
The scientific and technical data contained in this news release was reviewed and approved by
Fernando Ganem, P.Geo. under Engineers & Geoscientists of British Columbia, Vice President
Exploration of Lunex, who is responsible for ensuring that the information provided in this news release
is accurate and who acts as a "Qualified Person" as defined under National Instrument 43-101 -
Standard for Disclosure for Mineral Projects
.
Rock chip and channel samples were collected by Lunex personnel and contractors and submitted to
Alex Stewart International laboratories, located in San Julián, Santa Cruz, Argentina for analysis for gold
via 30-gram fire assay with atomic adsorption finish (method Au4-30); 39-element (including Ag)
Inductively Couple Plasma ("ICP") analysis (method ICPMA-39) and cold vapor technique for Mercury
(method G-5).
Channel and rock-chip samples included 10% QA/QC controls through the insertion of blank samples at
the beginning of each analytical batch and immediately prior to samples with strong visible
mineralization, to monitor potential contamination and carryover during sample preparation and analysis.
Sampling of drill core from the 2019 program at Luna Roja was carried out with core being cut by angle
grinder and half of the core retained for logging and potential re-analysis. Blind standards, blanks, and
duplicates were inserted into the sample chain accounting for 10% of samples. Samples were then
delivered, by Magna Terra staff, to Andesmar in Caleta Olivia, Santa Cruz, Argentina from where they
were transported to ALS Chemex Laboratories in Mendoza, Argentina, for gold fire assay and multi
element analysis.
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 minimizing
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; our 100% owned Rocky Brook Gold and
Critical Metals Project in the historic Bathurst Mining Camp of New Brunswick; 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. ("Gold Hunter") for total cash and share
consideration of $9.5 million over a 2-year period, and currently holds an approximate 14% equity
interest in Gold Hunter. The Company has also optioned the Luna Roja Project in Argentina to Lunex
Metals Corp. (formerly Andean Metals Corp.) for total cash and share consideration of $2.375 million
over a 4-year period. Further, the Company maintains a significant exploration portfolio in the province of
Santa Cruz, Argentina which includes its large 100% owned Boleadora Project, as well as several
additional district scale drill ready projects available for purchase or option/joint venture.
About Lunex Metals
Lunex Metals Corp. is an Argentina focused precious metals exploration company, with a strong local
technical team backed by experienced capital markets professionals. Lunex is a British Columbia
corporation that is a reporting issuer in the Provinces of British Columbia and Alberta.
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. Although the Company
and Lunex Metals believe that such statements are reasonable and reflect expectations of future
developments and other factors which management believes to be reasonable and relevant, the
Company and Lunex Metals 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 expressions, 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 and Lunex Metals have applied
several material assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company and Lunex Metals to
differ materially from any future results, performance or achievements expressed or implied by the
forward-looking information. Such risks and other factors include the inability of the Company and
Lunex Metals executing their respective proposed business plans and carry out planned future
activities. Other factors may also adversely affect the future results or performance of the Company
and Lunex Metals, 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 and Lunex Metals'
investment and operation in the mineral exploration sector, as well as the risks and uncertainties
which are more fully described in the Company's and Lunex Metals' annual and quarterly
management's discussion and analysis and in other filings made by the Company and Lunex Metals,
as applicable, with Canadian securities regulatory authorities under the Company's and Lunex
Metals' SEDAR+ profile at
www.sedarplus.ca
. 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 and Lunex Metals assume 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, CEO and Director
Phone: 905-301-9983
Email:
Website:
www.magnaterraminerals.com
Lunex Metals Corp.
Joaquin Mignaquy
CEO
Phone: +54 9 11 6913-9449
Email:
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