Major Discovery for Magna Terra Minerals Inc. on the Great Northern Project

Magna Terra Minerals Inc. announced significant results from its exploration program at the Great Northern Project in Newfoundland. This program, including a magnetic survey by drone over 246 km of line, the collection of 25 rock samples and 1,388 soil samples in the B horizon, revealed several new zones of gold mineralization.

Highlights include the discovery of a gold zone at the Taylors Pond prospect with grades up to 6.35 g/t gold, the identification of a 2.0 km long gold anomaly named the Loki trend and the isolation of a 500 meter long golden anomaly consistent with the Road Zone mineralized zone. These results highlight the expansion potential of the project which already has existing mineral resources and several untested gold trends.

The new discoveries and targets identified for future exploration confirm the considerable potential of the Great Northern Project to host several large gold systems. Magna Terra plans to present these findings at Canada's Atlantic Edge mining investment forum during PDAC 2024 in Toronto.