Canterra Minerals Announces $2.0 Million Private Placement Led by Strategic Investor Michael Gentile and Other Strategic Investors to Fund Gold Exploration in Newfoundland

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VANCOUVER, British Columbia, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB) (“Canterra” or the “Company”) is pleased to announce a non-brokered private placement of C$2 million (the “Private Placement”) led by strategic investors, including Michael Gentile, one of Canterra’s largest shareholders and leader in Canadian resource investing.

Proceeds will be used to support the Company’s gold exploration efforts in central Newfoundland Mining District on its Wilding gold project adjoining Equinox Gold’s Valentine Gold Mine, where recent results returned high-grade gold samples up to 535 g/t Au (see September 8, 2025 news release).

All figures are in Canadian dollars.

Chris Pennimpede, President and CEO of Canterra commented: “We appreciate the continued support of strategic long-term resource investors. We plan to follow up on the high-grade gold results from the Wilding Gold Project adjoining Equinox Gold’s Valentine Gold Mine. The goal is to mobilize a drill rig as soon as possible to test these new targets.”

The Private Placement will result in the issuance of 16.6 million units (each, a “Unit”) at a price of $0.12 per Unit, for gross proceeds of $2.0 million.   Each Unit will consist of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant a “Warrant”).   Each Warrant will entitle the holder to purchase one additional Share at an exercise price of $0.20 per Share for a period of 12 months following the closing of the Private Placement.

The Company intends to use the net proceeds of from the Private Placement for the exploration of the Company’s projects in central Newfoundland, including its Wilding Lake Gold Project, and for general working capital purposes.

No finders’ fees are expected to be paid on Private Placement.

The Private Placement is scheduled to close on or around October 30, 2025, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange (the “TSXV”). The Unit Shares and Warrant Shares will be subject to a hold period ending on the date that is four months plus one day following the closing date of the Private Placement under applicable Canadian securities laws.