TORONTO, ON / ACCESS Newswire / March 26, 2025 / Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSXV:MTT) is pleased to announce that it has acquired additional claims at the Rocky Brook Project ("Rocky Brook" or the "Project"), located in the prolific Bathurst Mining Camp of northern New Brunswick. Importantly the additional claims are located immediately adjacent to the Caribou Mine and Mill Property. The additional 6 mineral claims covering 1,590 hectares were acquired under the existing Fossil Hill-Boudreau Brook option agreement and no additional cash or shares were issued as part of the acquisition. Prospect Or Corp. retains a 2% Net Smelter Return Royalty ("NSR") with 1% of the NSR purchasable at anytime by Magna Terra for $1,000,000 on the recently added claims. Magna Terra has a Right of First Refusal on the remaining 1% NSR.
The Rocky Brook Project, including the recently acquired Restigouche Property, now comprises 18,694 hectares in 58 mineral claims making the Company one of the single largest strategic landholders in this historic mining camp (Figure 1). The Rocky Brook Project is located adjacent to and along strike from the Williams Brook Project, owned by Kinross Gold Corporation ("Kinross") and Puma Exploration Inc. ("Puma"), where a zone of high-grade gold mineralization was discovered over broad widths including drill intervals up to 5.55 g/t Au over 50.15 m. The Project is located adjacent to a 30-kilometre-long section of the Rocky Brook-Millstream fault and associated McIntyre and Ramsay Brook faults; an important structural zone controlling gold mineralization within the region. The Project also covers volcanic and sedimentary rocks that show strong potential to host polymetallic Cu-Co-Pb-Zn-Au-Ag mineralization, adjacent to the past-producing Caribou Mine and the Murray Brook Deposit; the largest undeveloped VMS project in New Brunswick owned by Canadian Copper Inc. (Figure 1).
Rocky Brook Project Highlights
The Project covers a 30-kilometre extent of the Rocky Brook-Millstream Fault system as well as a 40-kilometre extent of favourable California Lake felsic volcanic and sedimentary rocks that are host to the nearby Restigouche, Murray Brook, and Caribou Deposits;
Strategically positioned along strike from Kinross-Puma's Lynx Zone gold discovery and adjacent to the past-producing Caribou Mine and Murray Brook base metal deposits;
Recent discovery in 2023 of high-grade gold assays from grab samples* assaying up to 5.23 g/t Au over a 400 m area at Fournier Lake;
Previous work at the Fossil Hill Zone has discovered high-grade copper-cobalt mineralization with grab samples* assaying up to 16.65% Cu and 0.64% Co;
Previous work at the Boudreau Brook prospect has discovered copper mineralization assaying up to 3% Cu;
The Property covers the Restigouche C-4 and C-5 footwall Cu-rich "feeder" zones where previous historical drilling at the C-4 zone in hole C-4 that intersected 4.36 m grading 0.2% Cu, 1.6% Pb and 6.74% Zn (from 17.3 to 21.6 m). The best intersection in the C-5 area was reported in hole C-5 that intersected 2.06% Cu and 0.57% Zn over 4.5 m (from 51.9 to 56.4 metres);
Located within the prolific Bathurst Mining Camp and top-tier mining jurisdiction of New Brunswick; and
Year-round accessibility with road access to the majority of the Property.
"We are pleased to expand our current footprint in the prolific Bathurst Mining Camp in northern New Brunswick. The strategic positioning of the recently added claims next to the Caribou Mine and Mill adds additional exploration upside to the greater Rocky Brook Project at no additional cost. The large land package that now makes up the Rocky Brook Project gives the Company and its shareholders further exposure to a world-class base - critical metals camp, as well as high-grade precious metals exploration upside. With Canadian Copper advancing development of the Murray Brook VMS deposit along with its bid to acquire the historic Caribou Mine and Mill infrastructure, there is renewed interest in this historic yet underexplored mining camp. The recent discovery of high-grade gold at the Lynx Zone by Puma and subsequent recent strategic investment by Kinross to advance the Williams Brook Project, highlights the growing importance of this area for gold prospectivity as well. We will continue to look at all opportunities to add value and optionality for Magna Terra shareholders and enhance our portfolio of quality, low-cost exploration assets. Magna Terra's technical team has started a full digital compilation of all available exploration data from the Rocky Brook Project and is currently formulating exploration plans for late spring/summer 2025."
~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.
The Bathurst Camp
The Bathurst Mining Camp is one of the world's oldest base metal (lead, zinc, copper, gold and silver) mining districts hosting one of Canada's largest volcanogenic massive sulphide (VMS) deposits, with the past-producing Brunswick No. 12 Mine having operated for 49 years. The Bathurst Mining Camp is host to over 46 mineral deposits, several of which have been mined, including the Brunswick No. 6, Heath Steele, Wedge, Stratmat, Half Mile Lake, Caribou and Murray Brook. A total of 136,643,367 tonnes of ore grading 3.44% Pb, 8.74% Zn, 0.37% Cu, and 102.2 g/t Ag were mined from the Bathurst Mining Camp (McCutcheon and Walker, 2020**).
Qualified Person and Technical Notes
This news release has been reviewed and approved by David A. Copeland, P.Geo., a "Qualified Person", under National Instrument 43-101 - Standard for Disclosure for Mineral Projects.
All quoted drill core and rock samples results were compiled from historic assessment and government reports obtained from the government of New Brunswick. The Qualified Person has not completed sufficient work to validate these historic results.
* Grab samples are selective by nature and may not represent the true metal content of the mineralized zone.
**McCutcheon, S. R., & Walker, J. A. (2020). Great Mining Camps of Canada 8. The Bathurst Mining Camp, New Brunswick, Part 2: Mining History and Contributions to Society. Geoscience Canada, 47(3), 143-166
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 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. for total cash and share consideration of $9.5 million over a 2-year period. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its Boleadora Project being advanced by Newmont Corp. under an option to purchase agreement valued at US$1 million in cash over a 6-year period and including a 2% NSR capped at US$20 million; a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's operating Don Nicholas Project infrastructure, 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 Regulation 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 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
Email: info@magnaterraminerals.com
Website: www.magnaterraminerals.com
SOURCE: Magna Terra Minerals Inc.
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