Canterra Minerals Identifies Multiple Large-Scale Anomalies at Buchans Project, Commences Phase 3 Drilling

Vancouver, B.C. – Canterra Minerals Corporation (TSXV: CTM) has announced the identification of multiple large-scale, high-priority anomalies at its flagship Buchans Project in Central Newfoundland, following a property-wide, deep-penetrating 3D Induced Polarization (IP) survey. The company has immediately launched Phase 3 of its 10,000-meter drill program, targeting these newly defined areas, which are located at depths below historical exploration.

The Buchans Project, acquired by Canterra Minerals in December 2023, is a brownfield site known for the past-producing Buchans Mine, which operated from 1928 to 1984. Historically, the mine was a world-renowned, high-grade volcanogenic massive sulphide (VMS) deposit, producing significant quantities of zinc, lead, copper, silver, and gold. The project also hosts the undeveloped Lundberg deposit, a substantial near-surface resource.

Canterra's recent 3D IP survey successfully identified five primary, large-scale anomalies with geophysical signatures mirroring those of the historic high-grade Buchans orebodies. Chris Pennimpede, President and CEO of Canterra, commented, "This is a pivotal moment for Canterra, our most compelling opportunity yet to make a significant new discovery at Buchans." The company has allocated 6,000 meters of drilling in the current phase to test these high-priority targets, including Sandfill Deep, Clementine South, West Clementine, and Nu Area.

Prominent market commentator Peter Grandich has been actively promoting Canterra Minerals, stating in a recent tweet, "Canterra hitting my volume screens. It’s getting promoted by Grandich. Buchans is a legit brownfield zinc project. These anomalies likely to hit. And there is copper in that ore. $ctm.v". Grandich, who lists Canterra Minerals as a personal holding and a sponsor on his blog, has also conducted an interview with CEO Chris Pennimpede discussing the project's outlook.

The ongoing exploration efforts aim to uncover new high-grade VMS mineralization similar to the historical production that established Buchans as a premier base metal district. Canterra Minerals continues to review additional anomalous areas for future drill targets, with the 2025 exploration program supported by the government of Newfoundland and Labrador’s Junior Exploration Assistance Program.