Canterra Minerals begins phase 3 drilling at Buchans

Executive Summary

• Canterra Minerals completed a property‑wide 3‑D IP survey at the Buchans project, identifying five large‑scale high‑priority anomalies comparable to historic high‑grade VMS zones.
• The company has launched Phase 3 of its fully financed 10,000‑m drill program, with 6,000 m already underway targeting four top IP anomalies (Sandfill Deep, Clementine South, West Clementine, Nu area).
• The survey penetrated to ~800 m depth, well below historic shallow drilling limits, suggesting potential for new deep‑seated sulphide systems.

Key Details

• Survey Results: Five primary large‑scale anomalies with high chargeability and low resistivity; geophysical signatures match those over known mineralized zones at Buchans.
• Anomaly Highlights:
• Nu target – multikilometre anomaly identified via Vrify’s AI platform, validated by IP data.
• Sandfill Deep – >500 m lateral extent, ~600 m depth beneath historic Sandfill prospect.
• Clementine South – >500 m lateral extent, ~650 m depth, 1.5 km south of known Clementine mineralization.
• West Clementine – kilometre‑scale anomaly at 400–800 m depth along strike of West Clementine Stockwork.
• Phase 3 Drilling Program: Up to 6,000 m of drilling currently in progress, focusing on the four highest‑priority targets; program fully financed as part of a total 10,000 m plan.
• Depth Penetration: Survey imaged subsurface to depths of up to 800 m, exceeding historical exploration depth limits.
• Potential Resource Impact: Anomalies suggest significant sulphide accumulations on a scale suitable for future underground development; historic Buchans mine produced 16.2 Mt at 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/t Au, 126 g/t Ag.
• Corporate Updates:
• Received/anticipates financial support from Newfoundland and Labrador’s Junior Exploration Assistance Program for 2025 exploration.
• Engaged Digitonic Ltd. for a two‑month investor content marketing project (US$20,000) starting Sept. 2.

Notable Quotes

“The IP survey successfully delivered exactly what we were looking for: multiple, large‑scale anomalies with geophysical signatures that mirror those of the historic, high‑grade Buchans orebodies… This is a pivotal moment for Canterra, our most compelling opportunity yet to make a significant new discovery at Buchans.” – Chris Pennimpede, President & CEO

Qualified Person: Paul Moore, MSc, PGeo (Newfoundland), VP Exploration, reviewed and approved the technical disclosure.