Canterra Launches Fully Funded 15,000 Metre Discovery-Focused Drill Program in Newfoundland

On February 18, 2026, Canterra Minerals announced the launch of a 15,000-metre diamond drill program across its central Newfoundland projects. The program is described as "fully funded" following the $5.7M flow-through financing closed in December 2025. Drilling has already commenced at the Buchans Project (5,000m planned), with additional programs slated for the Victoria Lake Supergroup (5,000m) and the Wilding Gold Project (5,000m plus 250 percussion holes). This follows the high-grade gold discovery at Wilding (10.89 g/t Au over 31.5m) reported in January 2026 and the appointment of Matt Manson, a highly successful mine builder, to the Board of Directors.

The news is routine but positive. While the 15,000-metre scale is ambitious for a junior of this size, it was expected given the substantial $5.7M capital raise completed two months prior. - Execution: The launch confirms that management is adhering to the timelines set during the Q4 2025 marketing push. - Strategic Shift: This marks a shift from land consolidation (2024) and target generation (2025) to aggressive testing. - Validation: Starting at Buchans suggests the company is prioritizing its high-grade VMS targets where it previously saw success at the Two Level Zone. - Dilution vs. Discovery: The company is now in a "results-driven" phase. With approximately 368 million shares outstanding, only a significant, repeatable discovery will move the needle for shareholders given the heavy overhead and capital structure.

Canterra Minerals is focused on the Central Newfoundland Mining District. - Flagship Project: The Buchans Project, a past-producing high-grade VMS district (16.2Mt at 14.5% Zn, 1.3% Cu). Canterra's goal is to find new "Buchans-style" lenses at depth using modern 3D IP geophysics. - Secondary Asset: Wilding Gold Project, which covers 55km of the structural corridor hosting Calibre Mining’s Valentine Gold Mine.