Magna Terra Minerals 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--(Newsfile Corp. - May 7, 2026) - 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 (Figure 1). 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 (Figure 2). "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...

View stock analysis, news, and events for Magna Terra Minerals Inc