Magna Terra Acquires the Shellbird Gold Project in Western Newfoundland via Staking, Identifies Orogenic Gold Potential along Major Fault System

About this update from Magna Terra Minerals Inc

Toronto, Ontario - Magna Terra Minerals Inc. (TSXV: MTT) (the 'Company' or 'Magna Terra') is pleased to announce that it has acquired the Shellbird Gold Project ('Shellbird' or the 'Project'), located in western Newfoundland . The Project is located along the projection of the regional-scale Doucer's Valley Fault Zone ('DVFZ') and comprises 5 mineral licences (1,226 claims) totaling 30,650 hectares. The DVFZ and the underlying Proterozoic plutonic rocks are a favourable environment for hosting orogenic gold mineralization, similar to the Thor and Rattling Brook deposits of the Great Northern Gold Project located 30 kilometres to the northwest of Shellbird. 'We are very pleased to have acquired the Shellbird Gold Project , via staking, in a region that has known gold deposits along a fertile regional-scale fault system. This acquisition furthers Magna Terra's strategy of identifying early-stage, low-cost of acquisition, generative projects that provides the Company and our shareholders optionality, excellent value, and exposure to discovery. Historic, early-stage prospecting for precious metals on the property led to some encouraging grab sample results of up to 2.33 g/t gold that were never followed up on, and our team is excited to complete this essential generative work this spring. Importantly, the Shellbird Gold Project offers regional operational synergies for the Company being proximal to the communities of Deer Lake and Corner Brook , as well as our 100%-owned Humber Project and the Great Northern Gold Project , which is currently under option to Gold Hunter Resources .' Lew Lawrick , President and CEO, Magna Terra Minerals Inc. Shellbird 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; 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. Shellbird Project Geology The Project is largely underlain by Proterozoic rocks of the Long Range Inlier, a suite of felsic to mafic intrusive rocks that include the Long Range Gneiss Complex and younger Grenville -aged granitoids, that are bound by the regional-scale DVFZ and unconformably overlain by Carboniferous sedimentary rocks of the Deer Lake Basin to the east. To the southwest, the Long Range Inlier is overlain by Cambrian clastic sedimentary rocks of the Labrador Group (Bradore, Forteau , and Hawke Bay formations) and Ordovician carbonate sedimentary rocks of the Port Au Port Group ( March Point and Petit Jardin formations). The rocks are variably deformed and there is evidence from satellite imagery of multiple fault splays affecting rocks of the Long Range Inlier (Owen, 1990, 1991). This geological environment is known to host gold mineralization along strike to the northeast at the Great Northern Gold Project and Fishhawk Gold Corp's Gold Valley Project , where gold mineralization is present in several deposits including the Thor and Rattling Brook ( Beaver Dam , Road and Apsy Zones) deposits, and the Ladyslipper Zone , respectively. These mesothermal orogenic gold deposits are hosted within rocks of the Long Range Inlier or overlying Labrador Group sedimentary rocks adjacent to the DVFZ and up to several kilometres from the DVFZ along secondary or tertiary fault splays. Historical Exploration Results at Shellbird There has been little exploration for gold within the area surrounding the Shellbird Gold Project , despite successful discovery of gold mineralization along strike at the Thor and Rattling Brook deposits on the Great Northern Gold Project . Much of the previous exploration on the Project has focussed on uranium exploration in the adjacent Carboniferous Deer Lake Basin and, more recently, exploration for magmatic Ni-Cu sulphides by Churchill Resources Inc. within the Long Range Inlier. Prospecting and Rock Sampling A limited amount of prospecting and rock sampling has been completed on the Project with a total of 93 rock float and outcrop grab samples collected during 1996, 1997, 2007, and 2009. Rock sampling by prospectors in 1997 discovered gold mineralization assaying up to 2.33 g/t and 0.61 g/t gold in the central part of the property. All other samples assayed less than 100 ppb gold (Tipton, 1997; Geofile 012H/1384). There are several pathfinder elements within the sample dataset of significance for gold exploration with copper assays ranging from (C) 2026 Electronic News Publishing, source ENP Newswire

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