Canterra Minerals Enters into Option Agreement to Acquire 100% of the East Alder Gold Project, Newfoundland - Seite 2

The Option Agreement, including the issuance of Canterra shares, is subject to approval by the TSX Venture Exchange (“Exchange”). The Canterra shares will be subject to a statutory hold period.

Option Payment Summary

• 250,000 common shares of the Company to Sokoman within 10 days of the Effective Date, subject to a six-month escrow period from the Effective Date following Exchange approval; on the Exercise Date, granting Sokoman a net smelter return royalty to the with a buydown of 0.5% for $1,000,000 on the terms and conditions set forth in the Option Agreement
• $50,000 in property expenditures and issuance of 250,000 common shares to Sokoman on or before the first anniversary of the Effective Date
• $100,000 in property expenditures and issuance of 250,000 common shares to Sokoman on or before the second anniversary of the Effective Date
• $200,000 of property expenditures on the Property on or before the third anniversary of the Effective Date
• $250,000 of property expenditures on the Property on or before the fourth anniversary of the Effective Date
  

About Canterra Minerals
Canterra is earning a 100% interest in the Wilding and Noel Paul Gold Projects, located 50km south, by logging road, from Millertown and directly northeast of Marathon Gold’s Valentine Lake Gold Project in Central Newfoundland. The 236km² property package includes 50km of the northeastern strike-extension of the Rogerson Lake Structural Corridor, which hosts Marathon Gold’s Valentine Lake deposits, Matador Mining’s Cape Ray deposit, Sokoman’s Moosehead discovery and TRU Precious Metals’ Golden Rose and Twilight discoveries. A $2.75 million exploration program is underway, focusing on drilling and surface exploration on the Wilding Gold Project. This program will include additional diamond drilling on the existing zones and follow up trenching and diamond drilling on numerous targets identified from previous soil geochemistry sampling. Canterra’s team has more than 100 years of experience searching for gold and diamonds in Canada and have been involved in the discovery of the Snap Lake diamond mine, in addition to the discovery of the Blackwater Gold deposit in British Columbia, Canada.