Vancouver, B.C. (August 29, 2024) – Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or the “Company”) is pleased to announce commencement of a 2,000 metre (“m”) maiden drilling program to test
several new priority targets at the Company’s Buchans Project in the Central Newfoundland Mining District (see Figure 1).
The Buchans Project (“Buchans”or the “Project”) is host to the past producing Buchans mine adjacent the town of Buchans and is accessible by a provincially maintained paved highway extending from the Trans-Canada and from
Grand Falls which is a distance of 100 kilometres (“km”) by highway. The Project has ready access to power, water and other infrastructure and is located 50 km north of Calibre Mining’s Valentine Gold Mine currently under
construction.
The Buchans Mine consisted of several volcanogenic massive sulfide (“VMS”) deposits mined by Asarco over a period of almost 60 years that produced approximately 16.2 million tonnes1 (“Mt”) of ore at an average grade of 14.5% Zn, 7.6% Pb, 1.3% Cu, 1.37 g/t Au & 126 g/t Ag. The property also hoststhe undeveloped Lundberg deposit, a stockwork VMS deposit comprising a large, near-surface resource located immediately beneath and adjacent to workings of
the previously mined, high-grade Lucky Strike massive sulphide orebody (Figure 2).
Highlights:
• Building on a substantial metal inventory at Lundberg – an In-pit Indicated Mineral Resource estimate(2)
-16.79Mt 0.42% Cu, 1.53% Zn, 0.64% Pb, 5.69 g/t Ag and 0.07 g/t Au, containing 156 million pounds Cu, 566 million pounds Zn, 237 million pounds Pb, 3.1 million ounces Ag, and 37,000 ounces Au
• Lundberg drilling will investigate areas of high-grade mineralization that remain undeveloped by past underground mining immediately above and adjacent to Lundberg, as well as test for extensions to the main stockwork resource
• Canterra is excited to undertake drilling with the aim of expanding and enhancing the Lundberg open pit resource. This resource represents the largest and most advanced critical minerals deposit in Central
Newfoundland and is favorably situated on a brownfields site with excellent infrastructure
• Canterra is also excited about drilling at the Two Level and Pumphouse targets, which will test for highgrade massive sulphides that could be developed as new high-grade deposits or contribute to Lundberg’s
existing development Chris Pennimpede, President and

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