Northwire Canada EditionFriday, July 10, 2026
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S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.05 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.32 +12.1% TUNG 1.73 +2.4% LGO 1.00 −3.4% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.50 +1.1% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0% S 0.165 +37.5% NNX 0.035 +0.0% ABX 52.05 −0.3% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.32 +12.1% TUNG 1.73 +2.4% LGO 1.00 −3.4% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.50 +1.1% SGZ 0.040 −11.1% GRSL 0.307 −3.9% DEX 0.380 −1.3% WMS 0.040 +0.0%
Drill Results Routine +

Magna Terra Partner Gold Hunter Resources Commences 10,000-Metre Drill Program at Great Northern Project, Newfoundland

Magna Terra’s HUNT stake drilling continues as cash burn pressures the company to complete a capital event before year-end.

By The Northwire Desk — AI Analysis Jun 29, 2026 · 08:01 MTT · 0.145 Magna Terra Minerals Inc.
Executive Summary

Gold Hunter Resources (HUNT) has initiated a 10,000-metre diamond drill program at its Great Northern Project in western Newfoundland. The project encompasses 26,237 hectares along the Doucer's Valley Fault Zone, which hosts known deposits and untested prospects.

Magna Terra Minerals Inc. (MTT) holds an approximate 19% undiluted equity interest in HUNT, consisting of 55 million shares, making it the largest shareholder. The drilling follows an amended option agreement signed in March 2026, which extended the term to four years and increased the total consideration to CAD 10.075 million.

Material Impact

Magna Terra Minerals Inc. (MTT) has commenced its drill program, marking an expected operational milestone following the March 2026 option amendment. This development validates the company's strategic partnership but does not immediately impact Magna Terra's financial statements or valuation. The news is incremental and aligns with previous guidance regarding HUNT's exploration timeline. No new financial terms or dilutive events were disclosed in this release.

MTT · Price
Company Overview

Magna Terra Minerals Inc. (MTT) is an exploration-stage company maintaining a diversified portfolio across Atlantic Canada and Argentina. Its flagship assets include the Humber Copper-Cobalt Project in Newfoundland, which covers 49,925 hectares and targets Sediment-Hosted Stratiform Copper (SSC) deposits, and the Rocky Brook Project in New Brunswick, spanning 31,489 hectares and targeting Volcanogenic Massive Sulphide (VMS) and gold. Additionally, the Great Northern Project in Newfoundland is optioned to Gold Hunter Resources, providing the company with leveraged exposure to gold exploration. Magna Terra has systematically expanded its land package through staking and option agreements, focusing on district-scale, low-cost grassroots projects.

Read the original news release →

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