Magna Terra Acquires 100% Interest in Three Epithermal Gold-Silver Projects in Santa Cruz Province, Argentina
Toronto, Ontario--(Newsfile Corp. - September 24, 2026) - Magna Terra Minerals Inc. (TSXV: MTT) (the "Company" or "Magna Terra") is pleased to announce that it has acquired a 100% interest in three portfolio projects located in Santa Cruz Province, Argentina (the "Acquisition Agreement").
The three projects - Cerro Covadonga, El Meridiano, and La Rosita - were subject to an underlying Option Agreement (the "Option") with a private individual that has been terminated as a result of the Acquisition Agreement. The outstanding terms that were remaining on the Option that have been eliminated were cash payments totalling US$290,000, as well as a 2% Net Smelter Royalty ("NSR") on each Project. In return for a 100% interest in the three projects, the Company will pay a total of US$25,000, and issue 1,250,000 common shares of the Company. The common shares to be issued under the agreement will be subject to a regulatory four month and one day hold period from their date of issuance and are subject to approval by the TSX Venture Exchange.
"We are very pleased to have completed the acquisition of these three projects that we controlled under the Option. Not only have we preserved hard dollar cash, more importantly we have also eliminated the 2% NSR underlying each project. We now have 100% interest in six discrete projects covering approximately 79,000 hectares in the most active precious metals province in Argentina. This now allows us the opportunity to evaluate several options available to us to surface value for our shareholders from this extensive and under valued portfolio of highly prospective precious metals exploration assets. Among the options we will be considering is the potential 'spin-out' of these projects into a stand-alone vehicle for potential future listing on a Canadian stock exchange."
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
Project Highlights
Cerro Covadonga - A 2,945-hectare low sulphidation epithermal Au project, located in the center of the prolific Deseado Massif region of Santa Cruz Province, approximately 40 kilometres north of AngloGold Ashanti's Cerro Vanguardia gold mine (Figure 1). Previous work by the Company has identified a significant mineralized footprint covering a 3-kilometre strike length, defined by rock chip and soil geochemistry, with anomalous Au, Pb, As, and Hg in veins and breccias. The main area of interest is interpreted as a major dilational fault jog, an ideal structural setting for concentrating gold bearing fluids. Covadonga is adjacent to the Company's 10,700-hectare Piedra Negra Project.
El Meridiano -A 2,970-hectare low sulphidation Au/Ag project, located 37 kilometres to the northwest of Cerro Vanguardia (Figure 1). 32 historic shallow drill holes totalling 4,698 metres has confirmed a near surface gold system, while a 2017 CSAMT survey undertaken by the Company, identified a large, deeper, and untested resistive anomaly, interpreted as the margin of diatreme structure, now the primary high-priority target for future exploration activities.
La Rosita -A 2,900-hectare low sulphidation Au/Ag project located in the southwest corner of the Deseado Massif (Figure 1), neighboring the now closed Mina Martha and Manantial Espejo silver mines. Re-interpretation of geophysical data has highlighted deeper anomalous resistive targets at the intersection of north-northeast and northwest structures. These are interpreted to be associated with favorable underlying volcanic stratigraphy hidden beneath cover.
Figure 1:Location of Magna Terra exploration projects in Santa Cruz Province, Argentina.
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Qualified Person and Technical Notes
This news release has been reviewed and approved by David A. Copeland, P.Geo., Vice President Exploration and non-independent "Qualified Person" under National Instrument 43-101 - Standard for Disclosure for Mineral Projects.
About Magna Terra
Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper-Cobalt Project in Newfoundland and Labrador; our 100% owned Rocky Brook Gold and Critical Metals Project in the historic Bathurst Mining Camp of New Brunswick; the recently acquired Prospect Or's Dream Gold Project, and our 100%-owned Cape Spencer Gold Project in New Brunswick. In addition, the Company has optioned the Great Northern Project in Newfoundland to Gold Hunter Resources Inc. ("Gold Hunter") for total cash and share consideration of $10.075 million over a 4-year period, and currently holds an approximate 19% equity interest in Gold Hunter. The Company has also optioned the Luna Roja Project in Argentina to Lunex Metals Corp (formerly Andean Metals Corp.) for total cash and share consideration of $2.375 million over a 4-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its large 100% owned Boleadora Project, as well as several additional district scale drill ready projects available for purchase or option/joint venture.
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, the ability of the Company to file a report that complies with National Instrument 43-101. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, and the ability of the author of the Technical Reports to finalize same.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include the inability of the Company to execute its proposed business plans and carry out planned future activities. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of gold, changes in the financial markets and in the demand for precious metals, changes in laws, regulations and policies affecting the mineral exploration industry, and the Company's investment and operation in the mineral exploration sector, as well as the risks and uncertainties which are more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements.
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Source: Magna Terra Minerals Inc.
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