Gold Hunter Resources Restructures Magna Terra Option Agreement and Outlines Inaugural Drill Program at Great Northern Project, Newfoundland

Executive Summary

• Gold Hunter Resources restructured its purchase option agreement with Magna Terra Minerals, extending the option expiry to June 2028 and revising cash/share payment schedule to $3.575 M cash and $6.5 M share value.
• The company announced a fully funded inaugural drill program (up to 10,000 m) at the Great Northern Gold Project, financed by $6,749,894 raised in a recent private placement.
• Drill program focuses on three pillars: regional exploration of Doucers Valley Fault splays, resource expansion at Thor Deposit & Viking Block, and advancing historic Rattling Brook mineralization; includes high‑grade historical intercepts (e.g., 27 m @ 7.92 g/t Au).

Key Details

• Option Agreement Restructuring
• Second Amendment extends option period from 2 to 4 years; final payment deadline moved from June 2026 → June 2028.
• Revised payment schedule:
  • Closing Date (completed): $375,000 cash + $1,000,000 share value
  • 1 yr after Closing (completed): $450,000 cash + $2,750,000 share value
  • ~Mar 19 2026: $1,250,000 cash + $1,250,000 share value
  • 3 yr after Closing: $1,000,000 cash + $1,000,000 share value
  • 4 yr after Closing: $500,000 cash + $500,000 share value
• Total revised obligations: $3.575 M cash, $6.5 M share value.

• Magna Terra to continue providing project‑management support (target generation, permitting, contractor selection) and retains a board seat (CEO Lew Lawrick).

• Financing

• $6,749,894 raised via a non‑brokered private placement; fully funds the inaugural drill program.

• Inaugural Drill Program – Great Northern Project

• Scope: Up to 10,000 m of drilling across three strategic pillars.
• Pillar 1 – Regional Exploration (Doucers Valley Fault splays)
  • Targets >50 km of strike potential; AI‑assisted target prioritization using geophysical & geochemical data.
• Pillar 2 – Thor Deposit & Viking Block Expansion
  • Existing resource (Thor): 879,000 t Indicated @ 1.79 g/t Au (51,000 oz) + 67,000 t Inferred @ 1.97 g/t Au (4,200 oz).
  • Historical high‑grade intercepts:
  • 09‑VK‑23: 27 m @ 7.92 g/t Au (incl. 4.8 m @ 41.7 g/t Au; 0.5 m @ 135.9 g/t Au) from 11 m depth.
  • 09‑VK‑14: 58.70 m @ 2.8 g/t Au from 15.80 m.
  • 10‑VK‑51: 73.50 m @ 0.79 g/t Au from 72.5 m.
  • Planned drilling to test strike/depth extensions and multiple parallel structures (Quartzite, Asgard, Loki, Kramer, Odin’s Triangle).

• Pillar 3 – Rattling Brook Mineralization

  • Historical estimate: 5.46 M t @ 1.45 g/t Au (≈255,000 oz) – Inferred (Jan 23 2019).
  • No current NI 43‑101 resource; further drilling required to verify/upgrade.

• Project Scale & Infrastructure

• Land package: 26,237 ha; >35 km of Doucers Valley Fault strike length; >50 km of fault splays; 18+ known mineralized zones.

• Access: Road, on‑site hydro power, port facility.

• Qualified Person Review

• Technical information reviewed and approved by Rory Kutluoglu, B.Sc., P.Geo., Consulting Technical Lead (Qualified Person under NI 43‑101).

Notable Quotes

“The flexibility shown by Magna Terra in restructuring these terms speaks to the shared conviction both parties have in what we are building at Great Northern… their continued involvement strengthens our program considerably.” – Sean Kingsley, President & CEO, Gold Hunter Resources.