Magna Terra partner Lunex starts drilling at Luna Roja

Executive Summary

• Lunex Metals Corp. has commenced a 3,000-metre drill program at the Luna Roja project in Santa Cruz, Argentina, following the completion of prospecting, geological mapping, and ground geophysical surveys.
• Recent surface sampling identified high-grade gold and silver mineralization, with assays up to 13.26 g/t gold and 1,155 g/t silver, including elevated mercury values indicative of low-sulphidation epithermal systems.
• The drill program targets priority areas along the Via Lactea fault corridor, building on historical success from Magna Terra’s 2019 maiden drill program which intersected significant gold-silver zones.

Key Details

• Drill Program Scope:
  • Total planned drill metreage: 3,000 metres.
  • Start date: February 7, 2026.
  • Potential for expansion depending on results.
  • Targets include Estrella del Norte, Orion, Cruz del Sur, and Signos (Lambda and Alpha sectors).
• Recent Surface Sampling Results (Late 2025):
  • Collected 31 rock chip and 23 channel samples.
  • Highest grades: 13.26 g/t gold and 1,155 g/t silver.
  • Seven of 54 samples assayed over 1 g/t gold; 40 of 54 samples assayed over 1 g/t silver.
  • Two high-grade samples (1004 and 1005) showed elevated mercury (5,896 ppb and 4,686 ppb), a key pathfinder for gold.
  • Estrella del Norte (South End):
    • 1.97 g/t Au and 7.2 g/t Ag over 1.0 m.
    • 4.02 g/t Au and 4.03 g/t Ag over 1.0 m.
    • 13.26 g/t Au and 8.2 g/t Ag over 1.0 m (from altered rhyolitic dome rocks).
  • Cruz del Sur (Via Lactea Fault):
    • 1.65 g/t Au and 1,155 g/t Ag over 1.0 m.
    • 1.48 g/t Au and 241 g/t Ag over 1.0 m (from hydrothermal breccia).
• Geophysical Surveys:
  • Quantec completed 330.04 line kilometres of ground magnetic surveying (49 lines).
  • Integrated interpretation (magnetics, mapping, geochemistry) refined drill targets and extended corridor-scale structures.
• Historical Drilling (Magna Terra, 2019):
  • LR DDH002: 75.0 m of 0.62 g/t Au and 5.6 g/t Ag (from 37.0 m to 112.0 m), including 42.0 m of 1.01 g/t Au and 4.6 g/t Ag (from 68.0 m to 110.0 m).
  • LR DDH001: 51.4 m of 0.26 g/t Au and 9.37 g/t Ag (from 44.6 m to 96.0 m), including 2.0 m of 1.08 g/t Au and 79.60 g/t Ag (from 62.0 m to 64.0 m).
• Project Details:
  • Size: Approximately 10,000 hectares across three exploration licences.
  • Location: Santa Cruz province, Argentina; 75 km NW of Cerrado Gold's Minera Don Nicholas mine.
  • Geology: Low-sulphidation epithermal Au-Ag system centered on the 2.8 km northwest-striking Via Lactea fault.
• Option Agreement Terms:
  • Lunex can earn 100% interest for total consideration of $2,375,000 (cash and shares).
  • Project subject to 1% Net Smelter Return (NSR) payable to Orogen Royalties Inc.
• Corporate Update:
  • Lunex is progressing efforts to list common shares on the TSX Venture Exchange in Q2 2026.

Notable Quotes

• "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." — Lew Lawrick, President and CEO, Magna Terra Minerals.
• "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... 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.