Vancouver, B.C. (August 1, 2024) – Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (“Canterra” or the
“Company”) is pleased to announce it has completed the sale the Buffalo Hills Diamond Project (the “Project”)
located in north central Alberta, Canada, to Star Diamond Corporation (DIAM: TSX) ("Star Diamond"), whereby Star
Diamond will acquire a 100% interest in the Project from Canterra.
In accordance with the terms of the Agreement, Canterra sold their interest in the Project to Star Diamond in
exchange for an aggregate nominal consideration of 17,500,000 common shares (the “Consideration Shares”) of
Star Diamond, representing an implied purchase price of $1.05 million. One half of the Consideration Shares are
subject to a 12-month lock-up period and all of the Consideration Shares are subject to a customary four-month hold
period. Canterra also received a 1% royalty interest in the Project in addition to the Consideration Shares.
Chris Pennimpede, President and CEO of Canterra commented: “We are pleased that Canterra and Star Diamond
were able to come to terms with Buffalo Hills. We look forward to watching the Project develop with Star Diamond’s
extensive expertise in diamond exploration as Canterra focusses on its advanced stage copper and gold exploration
in the central Newfoundland Mining District.”
About Canterra Minerals
Canterra Minerals is a diversified minerals exploration company with a focus on critical minerals exploration in
central Newfoundland. Canterra’s projects include six mineral deposits located in close proximity to the worldrenowned, past producing Buchans mine and Teck Resources’ former past producing Duck Pond mine that produced
copper, zinc, lead, silver and gold. Several of Canterra’s deposits support historical Mineral Resource Estimates
prepared in accordance with National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and
Petroleum Definition Standards for Mineral Resources and Mineral Reserves current at their respective effective
dates (collectively the “Historical Resource Estimates”). All of Canterra’s Historical Resource Estimates are deemed
historical as they were prepared prior to their acquisition by Canterra. References for each historical Mineral
Resource Estimate that comprise Canterra’s Historical Resource Estimates and their associated Technical Reports
can be found on Canterra's website. Canterra also holds exploration-stage gold properties that cover 70 km of strike
of the regional gold-bearing Rogerson Lake structural corridor that hosts Calibre Mining Corporation’s development
stage Valentine Gold Mine. Canterra’s Newfoundland gold projects have been subject to four drilling campaigns,
demonstrating many gold occurrences warranting further exploration.
ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO
Additional information about the Company is available at www.canterraminerals.com