Magna Terra Receives First Anniversary Option Payment from Lunex Metals on the Luna Roja Project, Argentina

Magna Terra Minerals Inc. (MTT) has received the first-anniversary option payment from Lunex Metals for the Luna Roja project, consisting of C$125,000 in cash and 1,018,519 Lunex common shares valued at C$275,000. This payment accounts for C$400,000 of the C$2,375,000 total earn-in consideration. The shares were issued on October 6, 2026, and carry a four-month-plus-one-day hold period. The announcement also congratulated Lunex on closing a recent financing and its concurrent listing on the TSX Venture Exchange.

The release included re-reported drill highlights from the first half of 2026, explicitly cross-referencing Magna Terra’s July 15, 2026 news release, indicating the assay data is not new. The re-reported Cruz del Sur intercepts (downhole lengths) are as follows:

• LR_DDH14: 23.1 m from 79.0–102.1 m @ 0.36 g/t Au + 61.76 g/t Ag (including 2.0 m @ 1.15 g/t Au + 465.0 g/t Ag)
• LR_DDH15: 19.0 m from 103.0–122.0 m @ 0.70 g/t Au + 9.38 g/t Ag (including 4.0 m @ 1.79 g/t Au + 33.15 g/t Ag)
• LR_DDH17: 10.0 m from 120.0–130.0 m @ 0.63 g/t Au (including 2.0 m @ 2.04 g/t Au)

The re-reported Estrella del Norte intercepts are:

• LR_DDH26: 8.0 m from 20.0–28.0 m @ 0.23 g/t Au + 44.05 g/t Ag
• LR_DDH27: 6.0 m from 43.0–49.0 m @ 0.39 g/t Au + 16.40 g/t Ag

Supporting statements noted that 16 holes totaling 2,517.5 m were drilled, with 13 of the 16 intercepting broad zones of hydrothermal alteration. A Phase 2 drill program is contemplated for 2027, and approximately 330 line-km of ground magnetics have been completed.

Magna Terra Minerals Inc. (MTT) announced the receipt of a scheduled C$400,000 anniversary payment and confirmed the closing of a financing following Lunex’s listing on the TSX-V. The company, a grassroots-to-early explorer with a market capitalization of approximately C$30 million, currently holds no revenue and carries a going-concern flag in its latest MD&A. The project remains in the pre-resource stage, meaning no new drill assays or assay intercepts were included in the release.

The stock price had already reacted to prior developments, having roughly doubled from approximately C$0.15 around the July 15, 2026, publication of drill content to a peak of C$0.30 on September 29, 2026. The share price subsequently faded to C$0.24, completing a round-trip of the late-September spike.

The C$400,000 payment represents a portion of the total C$2,375,000 consideration. This amount is modest relative to the company’s financial position, which included C$924,169 in cash and C$2.48 million in short-term investments as of May 31, 2026, alongside the C$3.75 million financing secured in September. While the transaction validates a strategy to monetize non-core assets without dilution and establishes Lunex as a listed, liquid counterparty, it does not alter the resource story or de-risk the project.

Magna Terra Minerals Inc. (TSXV: MTT) is a Toronto-headquartered, pre-revenue precious and critical metals explorer with no producing assets and no reserves. The company’s portfolio includes several projects in Atlantic Canada, including the 49,925-hectare Humber Copper-Cobalt property, which is 100% owned, royalty-free, and operates under an SSC model. Other Atlantic holdings include the 30,650-hectare Shellbird Gold project (100% owned, DVFZ orogenic gold), the 36,533-hectare Rocky Brook Gold & Critical Metals project in the Bathurst Mining Camp (VMS Cu-Zn-Pb + gold), the 18,798-hectare Prospect Or's Dream (LS epithermal, 7.2 km strike), and Cape Spencer, which holds a historical inferred resource of 1.72 Mt @ 2.72 g/t Au for 151,000 oz, per the MD&A.

In Argentina, Magna Terra holds a 100% interest in six precious-metals projects totalling approximately 79,000 hectares in Santa Cruz, which are held for sale, option, or joint venture. These assets include Luna Roja (optioned to Lunex), Cerro Covadonga, El Meridiano, La Rosita, and the Boleadora group. The company also holds equity stakes in other entities, including approximately 55 million shares, or roughly 19% of Gold Hunter Resources (HUNT), whose option payments serve as a recurring cash source. Magna Terra is now also a holder of Lunex Metals shares.

Financial data from the nine months ended May 31, 2026, reported zero revenue. Net income of C$725,590 was driven entirely by option payments and largely offset by a C$1.1 million unrealised loss on the HUNT stake. The company used C$1.32 million in cash for operations, ending the quarter with C$924,169 in cash and approximately C$2.48 million in short-term investments. Working capital stood at C$3.3 million against an accumulated deficit of C$12.7 million, with an explicit going-concern flag noted.

On September 22, 2026, the company completed a financing raising C$3,750,008 gross. The transaction included 8,421,056 premium flow-through shares at C$0.2375 and 10,000,000 common shares at C$0.175, closing with approximately 18.4 million new shares and bringing the total share count to approximately 126.8 million. Michael Gentile holds approximately 15.6% post-close. The company’s model is explicitly non-dilutive where possible, aiming to joint venture or option out assets and live off payments.