Mr. Lewis Lawrick reports

MAGNA TERRA ANNOUNCES $600,000 NON-BROKERED PRIVATE PLACEMENT

Magna Terra Minerals Inc., subject to all regulatory approvals, intends to complete a non-brokered private placement of gross proceeds up to $600,000.

The offering will consist of an issuance of common shares of the company at a price of three cents per share for a total issuance of up to 20 million common shares. The company expects that insiders of the company may participate in the offering.

The gross proceeds from the issuance of common shares will be used for general working capital purposes.

In connection with the private placement, the company may pay finder's fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a regulatory four-month-and-one-day hold period. It is anticipated that an initial closing will occur on or before Sept. 29, 2023. The private placement is subject to approval by the TSX Venture Exchange.

About Magna Terra Minerals Inc.

Magna Terra is a precious-metal-focused exploration company, headquartered in Toronto, Canada. Magna Terra owns two district-scale, resource-stage gold exploration projects in the top-tier mining jurisdictions of New Brunswick and Newfoundland and Labrador. Further, the company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina, which includes its precious metals discovery on its Luna Roja project, as well as an extensive portfolio of district-scale drill-ready projects available for option or joint venture.

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