$CTM.V

Canterra Minerals Begins Phase 2 Diamond Drill Program Targeting Lundberg Deposit in Newfoundland

Canterra Minerals (CTM.V) on Wednesday said it launched an 8,000-meter Phase 2 diamond-drilling program in the Buchans district of Newfoundland.Buchans hosts a substantial and growing resource base and Canterra's 2026 program will focus on advancing the Lundberg deposit as the district's anchor resource, a statement said.Results from the Phase 2 program are expected to contribute to Canterra's maiden mineral resource estimate for the Lundberg deposit, which is slated for the fourth quarter.The company's shares were last seen down C$0.005, or 3.2%, to C$0.15 on the TSX Venture Exchange.Price: $0.15, Change: $-0.01, Percent Change: -3.23%

Canterra Minerals Expands Lundberg Footprint And Confirms High Grade Lens at Two Level Target at Buchans Project, Newfoundland

Canterra Minerals' (CTM.V) hole H-26-3563 from its winter drill program at the Buchans project in the Central Newfoundland Mining District, intersected 1.65 meters (m) of 4.34% copper equivalent (CuEq), confirming the presence of a high-grade semi-massive sulphide lens at the Two Level horizon, it said on Wednesday.The hole also extended Lundberg stockwork mineralization below the existing pit shell, building on the previously reported 86m of 0.91% CuEq announced in February 2026, it said. Hole H-26-3561 returned 57.15m of 0.57% CuEq, including 11m of 1.32% CuEq, successfully infilling a gap in the northeastern Lundberg resource area where mineralization occurs near surface.The company also reported that hole H-26-3562 intersected 3.05m of 2.14% CuEq, supporting the lateral continuity of copper-rich mineralization across the Lundberg footprint and reinforcing the potential for higher-grade zones within the broader stockwork envelope. Holes H-26-3559 and H-26-3560 returned broad intervals of 44.5m of 0.34% CuEq and 51m of 0.17% CuEq respectively, including 22m of 0.51% CuEq and 12m of 0.49% CuEq."With Phase 2 drilling about to begin, our focus now shifts to near-surface extensions of the Lundberg stockwork resource and additional priority targets across our critical minerals portfolio," said Canterra Minerals chief executive Chris Pennimpede. "Combined with ongoing advancement at our Wilding Gold Project along the Valentine Lake gold corridor, Canterra is entering an active period with multiple potential discovery and resource-growth catalysts ahead."Shares of the company closed unchanged at $0.16 on Tuesday on the TSX Venture Exchange.

Canterra Minerals Expanding Lundberg Footprint and Confirming High Grade lens at Two Level target at Buchans Project, Newfoundland