Mr. Chris Pennimpede reports

CANTERRA MINERALS DEFINES MULTIPLE LARGE-SCALE DRILL TARGETS FROM PROPERTY-WIDE 3D IP SURVEY AT THE BUCHANS PROJECT AND BEGINS DISCOVERY- FOCUSED PHASE 3 DRILLING

Canterra Minerals Corp.'s property-wide, deep-penetrating 3-D induced polarization (IP) survey at the flagship Buchans project in central Newfoundland has defined multiple large-scale, high-priority anomalies directly along the geological corridor that hosted the world-renowned, high-grade Buchans mine. The new target anomalies occur at depths below those previously tested by historic shallow drilling.

On the strength of these results, Canterra has immediately launched phase 3 of its fully financed 10,000-metre drill program -- marking a major step forward in advancing the Buchans project toward potential new discoveries. Six thousand metres of drilling are now under way, targeting the highest-priority IP anomalies generated by the survey.

Significant outcomes from the Abitibi Geophysics's proprietary Dasavision3DIP 3-D IP survey:

• Five large-scale anomalies identified: The survey defined five primary, large-scale, previously untested anomalies. Their geophysical signatures (high chargeability and low resistivity) are directly comparable with those over known mineralized zones and occur along projected extension or structural repeats of the Buchans mine host stratigraphy. A number of these large-scale anomalies, including the multikilometre Nu target, were identified using Vrify's AI (artificial intelligence) software and have been further validated by the company's IP survey.
• Potential for major sulphide systems: The size and geophysical character of these anomalies suggest the presence of significant sulphide accumulations, potentially on the scale required for future underground development. The historic Buchans mine was one of the world's highest-grade VMS (volcanogenic massive sulphide) deposits, producing 16.2 million tonnes at an average grade of 14.5 per cent zinc, 7.6 per cent lead, 1.3 per cent copper, 1.37 grams per tonne gold and 126 grams per tonne silver.
• Unprecedented depth penetration: Canterra conducted the largest and deepest geophysical survey in the project's history, successfully imaging the subsurface to depths of up to 800 metres, well below the limit of most historical exploration.

Chris Pennimpede, president and chief executive officer of Canterra, commented: "The IP survey successfully delivered exactly what we were looking for: multiple, large-scale anomalies with geophysical signatures that mirror those of the historic, high-grade Buchans orebodies. The fact that they sit on the same prospective stratigraphy is highly encouraging. This is a pivotal moment for Canterra, our most compelling opportunity yet to make a significant new discovery at Buchans. We have already commenced drilling and are excited to test these Tier 1 targets."

Phase 3 drilling

The current phase of drilling will include up to 6,000 metres of drilling focused on four of the highest-priority targets generated from the 3-D IP survey. The objective is to discover new high-grade VMS orebodies similar to those that established the Buchans camp as one of the world's most significant base metal districts.

New drill targets include:

• Sandfill Deep -- a large (greater-than-500-metre) anomaly defined by coincident high chargeability and low resistivity, occurring within a structural repeat of the Buchans horizon; it is located below the historic Sandfill prospect at an estimated depth of approximately 600 metres;
• Clementine South -- a compelling target defined by a coincident chargeability high and resistivity low, measuring several hundreds of metres in lateral extent (greater than 500 metres) and located 1.5 kilometres south of the known Clementine mineralization at an estimated depth of 650 metres;
• West Clementine -- a broad, kilometre-scale chargeability anomaly occurring at estimated depths ranging between 400 and 800 metres; it lies along strike of the West Clementine Stockwork sulphide prospect and may represent a faulted extension of a massive sulphide body;
• Nu area -- initially identified with Dora, Vrify's AI-assisted mineral discovery platform, the Nu target is host to multiple kilometre-scale resistivity anomalies with locally coincident increased chargeability; this target is located within the poorly explored southern area of the project where historical work identified massive sulphide float but was followed up by only limited shallow drilling.

Canterra continues to review these and other anomalous areas as possible drill targets with its geophysical consultants and expects to add additional targets to the current phase 3 drill program that will continue through late fall.

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 world's highest-grade VMS base metal mines of its time. Adjacent to this legacy, the Lundberg deposit represents a significant undeveloped 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.

Corporate update

Canterra also announces that it has engaged Digitonic Ltd. to provide marketing consulting and investor relations services to the company. Digitonic is based in Glasgow, Scotland, and will provide a two-month investor content marketing project on behalf of the company, beginning Sept. 2. Digitonic is at arm's length to the company and has been paid $20,000 (U.S.) for the two-month project.

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's definition standards for mineral resources and minerals. 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.

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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