Mr. Chris Pennimpede reports

CANTERRA MINERALS INTERSECTS 60.7 METRES OF 0.85% COPPER EQUIVALENT AT THE BUCHANS PROJECT, NEWFOUNDLAND

Canterra Minerals Corp. has released new drill results from its continuing 10,000-metre drill program at its 100-per-cent-owned Buchans project, located in Newfoundland's prolific Central mining district. The project sits in a proven mining district, just 50 kilometres north of Equinox Gold's Valentine gold mine and 34 kilometres northwest of Teck's past-producing Duck Pond mine.

Drill hole H-25-3538 delivers long, high-grade interval:

• 60.70 metres grading 0.85 per cent copper equivalent (0.39 per cent copper, 1.00 per cent zinc, 0.55 per cent lead, 2.5 grams per tonne silver and 0.03 gram per tonne gold) from just 15.3 metres to 76 metres below surface:
  • Including 4.7 metres of 2.29 per cent copper equivalent (1.19 per cent copper, 2.25 per cent zinc, 1.27 per cent lead, 9.3 grams per tonne silver and 0.06 gram per tonne gold);
• Broad sulphide stockwork mineralization extends below the current resource, suggesting potential for larger open-pit mineral resource;
• Results confirm strong copper distribution, an increasingly valuable component of the Lundberg deposit;
• The 60.7-metre intersection is one of the longest continuous mineralized intervals drilled on the project to date.

Chris Pennimpede, president and chief executive officer of Canterra, commented: "We are off to a fantastic start in the 2025 drill season. These latest results show copper-rich mineralization well outside the existing resource area -- exactly what we want to see as we aim to grow the Lundberg deposit. Importantly, the existing resource was based on a conservative copper price of just $3 (U.S.) per pound, well below today's much stronger copper market price. With 8,000 metres of drilling still to come this summer and fall, we're excited about the upside potential at Buchans."

Drill results analysis

The latest drill results from hole H-25-3538 further demonstrate the robust and continuous mineralization of the Lundberg deposit. The standout 60.7-metre intersection grading 0.85 per cent copper equivalent, starting just 15.3 metres below surface, is one of the longest mineralized intercepts encountered to date and highlights the near-surface potential ideal for open-pit development. This builds on the previously announced 68-metre interval of 1.0 per cent copper equivalent from surface in hole H-25-3537 (June, 2025), reinforcing a consistent pattern of broad, high-grade mineralization near surface across the deposit.

Buchans project

Canterra's Buchans project spans 95 square kilometres near the town of Buchans and hosts both the world-renowned, past-producing Buchans mine and the undeveloped Lundberg deposit. The historic Buchans mine, operated by Asarco from 1928 to 1984, was one of the highest-grade base metal producers of its time. Adjacent to this legacy, the Lundberg deposit represents a significant undeveloped VMS (volcanogenic massive sulphide) resource, characterized by near-surface stockwork sulphide mineralization -- well suited for open-pit development in a proven mining district.

Newfoundland and Labrador junior exploration assistance

Canterra would like to acknowledge financial support it may receive from the government of Newfoundland and Labrador's junior exploration assistance program related to completion of its 2025 exploration programs at Buchans.

About Canterra Minerals Corp.

Canterra is a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. The company's projects include six mineral deposits located in close proximity to the world-renowned, past-producing Buchans mine and Teck Resources' Duck Pond mine, which collectively produced copper, zinc, lead, silver and gold. Several of Canterra's deposits support current and 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. Canterra's gold projects are located on trend of Equinox Gold's Valentine mine currently under construction and cover an approximately 60-kilometre extension of the same structural corridor that hosts mineralization within Equinox Gold's mine project. Past drilling by Canterra and others within the company's gold projects intersected multiple occurrences of orogenic-style gold mineralization within a large land position that remains underexplored.

Quality assurance/quality control protocols

Samples consist of saw-cut NQ drill core, with one-half retained for reference and one-half submitted for analyses. Samples were submitted in sealed plastic bags delivered by Canterra personnel to SGS Canada's preparatory facility in Grand Falls-Windsor, Nfld. Sample batches consisted of core samples, control standards, blanks and duplicates. Once prepared, pulps (SGS procedure code PRP89) were shipped to SGS Canada's laboratory in Burnaby, B.C., to be homogenized and subsequently analyzed for multielement assays (including copper, lead, zinc, silver and gold) using sodium peroxide fusion with ICP-OES finish (codes GE_ICP90A50 for copper, lead, zinc and silver, GE_AAS22E50 for silver by two-acid digestion by AAS, and GE_FAA30V5 for gold by 30-gram fire assay by AAS). Overlimit assays were completed as necessary by pyrosulphate fusion/XRF for copper, lead and zinc (code GO_XRF70V) and silver by 30-gram fire assay, gravimetric (code GO_FAG37V). SGS Natural Resources analytical laboratories operate under a quality management system that complies with ISO/IEC 17025. SGS Canada's minerals laboratory in Burnaby is accredited by the Standards Council of Canada (SCC) for specific mineral tests listed on the scope of accreditation to the ISO/IEC 17025 standard. Canterra also submits representative pulps to ALS Geochemistry's laboratory in Moncton, N.B., for additional independent check assays.

Qualified person

Paul Moore, MSc, PGeo (Newfoundland), vice-president of exploration for Canterra Minerals, a qualified person within the meaning of NI 43-101, has reviewed and approved the technical disclosure in this news release.

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