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Magna Terra Signs Option Agreement with Andean Metals for the Luna Roja Project in Santa Cruz, Argentina
Toronto, Ontario--(Newsfile Corp. - October 6, 2025) - Magna Terra Minerals Inc.   (TSXV: M...
About this update from Magna Terra Minerals Inc
[{"type":"text","content":"Magna Terra Signs Option Agreement with Andean Metals for the Luna Roja Project in Santa Cruz, ArgentinaToronto, Ontario--(Newsfile Corp. - October 6, 2025) - Magna Terra Minerals Inc. (TSXV: MTT) (\"Magna Terra\" or the \"Company\") and Andean Metals Corp. (\"Andean Metals\" or \"Andean\") are pleased to announce that they have entered into a Definitive Option Agreement (the \"Agreement\") for Andean Metals to have the right to acquire a 100% interest in the Luna Roja Project (\"Luna Roja\" or the \"Project\"), located in Santa Cruz Province, Argentina (Figure 1) from the Company.Under the terms of the Agreement, Andean can earn a 100% interest in the Project for total consideration of C$2,375,000 payable in cash and Andean common shares as outlined below:Luna Roja TermCash (C$)Cash / Share (C$)Total (C$)60-day exclusivity period (paid)$75,000-$75,000On Signing Definitive Agreement (paid)$100,000-$100,0001st Anniversary$125,000$275,000$400,0002nd Anniversary$125,000$375000$500,0003rd Anniversary$125,000$475,000$600,0004th Anniversary$125,000$575,000$700,000TOTAL$675,000$1,700,000$2,375,000 Additionally, Magna Terra shall retain the right to a nominee on the Board of Directors of Andean, under certain terms and conditions as defined in the Agreement.\"We are very excited to partner with the Andean Metals team on the drill-ready Luna Roja precious metals project in the prolific Deseado Massif region of Santa Cruz Province, Argentina, home to world class mines like Cerro Negro (Newmont), Cerro Moro (Pan American Silver), Cerro Vanguardia (AngloGold Ashanti), as well as others. The Deseado Massif remains a significantly underexplored geological domain known for hosting large low sulphidation epithermal precious metals systems. The Luna Roja Project boasts an early-stage drill epithermal gold-silver discovery at Cruz del Sur and a 3-kilometre long zone of anomalous geochemistry that highlights the discovery potential of the Project. This transaction further supports our corporate strategy of leveraging our deep project portfolio to provide non-dilutive liquidity to advance our priority exploration assets, while maintaining upside exposure to these projects through a growing portfolio of equity ownership and royalties.\"~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.\"This transaction represents a sign...