Mr. Chris Pennimpede reports

CANTERRA MINERALS APPOINTS MATT MANSON TO BOARD OF DIRECTORS AND GRANTS ANNUAL EQUITY INCENTIVES

Canterra Minerals Corp. has appointed Dr. Matt Manson to its board of directors.

Dr. Manson is a geologist and mining executive with over 30 years of international mining experience spanning exploration, permitting, mine development, financing, operations and capital markets. He is currently president, chief executive officer and a director of Radisson Mining Resources Inc. Previously, Dr. Manson served as president and CEO of Marathon Gold Corp., where he led the advancement of the Valentine gold project in central Newfoundland until the company was acquired by Calibre Mining (acquired by Equinox Gold). Prior to that, Dr. Manson served as president and chief executive officer of Stornoway Diamond Corp., where he led the development of the Renard diamond project. Dr. Manson has been recognized with The Northern Miner's Mining Person of the Year (2017) and the PDAC Viola Macmillan Award (2015). He holds a BSc in geophysics from the University of Edinburgh and an MSc and a PhD in geology from the University of Toronto.

The company also announces the retirement of Michael Power from its board of directors and wishes to thank him for his years of service to the company.

Chris Pennimpede, president and chief executive officer of Canterra, commented: "We are very pleased to welcome Mr. Manson to Canterra's board of directors. Mr. Manson is a proven builder in the Canadian mining sector with deep technical and capital markets experience and a strong track record of advancing projects from exploration through development. His insight and experience from leading the Valentine gold project toward production, which today is the largest gold mine in Atlantic Canada, will be highly valuable as we continue to advance our adjacent gold and critical minerals projects in Newfoundland. On behalf of the board and management team, I would also like to sincerely thank Mr. Michael Power for his contributions and dedicated service to Canterra and his long history with the Buchans project."

Annual equity grant

Canterra also announces that it has granted a total of 1,505,000 stock options to certain directors, officers, employees and consultants of the company, pursuant to the terms of the company's equity incentive plan and subject to regulatory approval. The options are exercisable at a price of 20 cents per share for a period of three to five years from the date of grant and are subject to time-based vesting.

The company has also granted a total of 1,257,500 deferred share units (DSUs) to certain directors of the company and a total of 300,000 restricted share units (RSUs) to certain officers of the company. The DSUs will vest one year from the date of grant and the RSUs will vest equally over three years, beginning one year from the date of grant.

Investor relations agreement

The company announces that, effective Feb. 3, 2026, it has entered into a consulting agreement with Grignan Holdings Ltd. (doing business as Peterson Capital) to provide investor relations services in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.

Peterson Capital, based in Edmonton, Alta., is one of Canada's leading capital markets advisory and communications firms. It specializes in connecting high-growth companies to its extensive network of retail investment advisers in Canada as well as family offices and funds in Europe.

Neither Peterson nor any of its principals currently own, directly or indirectly, any securities of the company, but may purchase securities of the company from time to time for investment purposes, and Peterson and its principals are at arm's length from the company.

Under the Peterson agreement, Peterson Capital will assist the company with investor outreach and marketing initiatives, including introductions to potential investor groups and participation in the consultant's 2026 conference events. Peterson Capital will also support corporate structure and financing strategies, assist with the development of corporate presentation materials, and disseminate company-approved information to increase public awareness, in accordance with applicable securities regulations.

The Peterson agreement has a term of 12 months, includes consultant fees of $85,000, and is subject to the approval of the TSX-V. The company will pay such fees from its working capital.

In connection with the appointment of Peterson Capital, the company has also approved a grant of 250,000 options pursuant to the company's equity incentive plan, included in the total option grant announced today. The options are exercisable at a price of 20 cents, for a term of 36 months, and are to vest 25 per cent every three months, beginning three months from the date of grant.

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 seven 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. Canterra's gold projects are located on trend of Equinox Gold's Valentine mine currently under construction and cover an approximately 55-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.

We seek Safe Harbor.