Announcement • Jun 20
Magna Terra Minerals Commences Exploration At the Humber Copper-Cobalt and Shellbird Gold Projects in Newfoundland Magna Terra Minerals Inc. had commenced its summer exploration programs at the Humber Copper-Cobalt ("Humber") and Shellbird Gold ("Shellbird") Projects, located in western Newfoundland. The work, part of a Phase 1 2026 exploration program, at Humber is designed to follow-up on a successful initial exploration program in 2025 that resulted in the discovery of the 2.2-kilometre Birch Zone as well as the identification of several high-priority combined geophysical and geochemical (copper, cobalt) targets for follow-up prospecting. The initial work at Shellbird will focus on prospecting and geological mapping at this recently acquired gold project. The planned Phase 1 exploration program includes: Humber Copper-Cobalt Project Prospecting to extend the Birch Zone along strike where soil sampling and geophysics from 2025 suggest potential for 2.0+ kilometres of additional strike length; 1,000 soil samples to test additional 3 kilometres extent southwest of Birch Zone; Prospecting of copper and cobalt stream sediment anomalies coincident with airborne geophysical conductors identified in 2025; and 300 stream sediment samples to complete coverage of the property in remote areas not sampled in 2025. Shellbird Gold Project Initial prospecting and geological mapping of the 2.33 g/t gold sample collected in 1997; and 75 stream sediment samples to follow-up on gold grains identified in historic stream sediment sampling. Humber Copper-Cobalt Project Highlights 2025 discovery of 2.2 kilometres of surface copper mineralization at the Birch Zone, with potential to expand to 4.2 kilometres based on geochemistry and a further 3.0 kilometres based on underlying geophysics; Host to regionally anomalous Cu, Co, Ag, Pb +/- Au, Mo, As, and Sb lake sediments; Airborne geophysical conductors coincident with lake and stream sediment Cu and Co anomalies; 8+ kilometre Hughes Lake Copper-Cobalt Trend; Analogous to the Kalahari Copper Belt, Namibia and Botswana; Central African Copper Belt, Zambia and the Democratic Republic of Congo (DRC); and the Kupferschiefer Belt, Poland; Globally, these Sediment-hosted Stratiform Copper ("SSC") deposit types represent 20% of Cu production and 60% of Co production; District-scale land package now comprising 49,925 hectares; Located within the premier mining jurisdiction of Newfoundland and Labrador; Year-round accessibility with road access to the majority of the Project; First mover advantage in a previously unrecognized area of exploration potential; and Acquired through staking - cost effective acquisition and with no underlying royalties or option payments. Shellbird Gold Project Highlights The Project covers a 35-kilometre extent of the regional-scale Doucer's Valley Fault Zone and associated fault splays; Strategically positioned 30 kilometres along strike from the Great Northern Gold Project in the same geological environment known to host orogenic gold mineralization; Historic (ca. 1997) rock grab samples from grassroots prospecting assaying up to 2.33 g/t gold with no follow-up; Government lake sediment samples with assays up to 9 ppb gold marking a strong regional geochemical anomaly; Historic stream sediment samples identified 5 locations with 1 gold grain in each sample (2 pristine, 2 reshaped and 1 modified) at the southwest end of property; Large land package comprising 30,650 hectares; Largely road accessible and 10 kilometres north of the town of Deer Lake; and Located adjacent to the Magna Terra's Humber Copper-Cobalt Project providing operational efficiencies. Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Director Gernot Wober was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jan 23
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.0m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.0m free cash flow). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (CA$16.2m market cap, or US$11.8m). 
