New Discovery At The Dogberry Target Adding To Gold Mineralization

VANCOUVER - Canterra Minerals Corporation reported results for the remaining nine drill holes completed during the winter 2021 drill program at the Wilding Gold Project, in central Newfoundland. Results are from the Elm Zone and the previously untested Dogberry target. Drill Highlights: 11.0 g/t Au over 0.3m at a depth of 22.4m in hole WL-21-45 at the Dogberry Target, New gold drill discovery, and 4th drill defined gold target on the project; 0.53 g/t Au over 12.2m at a depth of 62.3m in hole WL-21-41 at the Elm Zone, Including: 13.38 g/t Au over 0.2m; 1.37 g/t Au over 1.0m at a depth of 13.9m in hole WL-21-44 at the Elm Zone, and 150m step-out to the northeast from 2017 Elm discovery hole; 2.00 g/t Au over 1.0m at a depth of 31.4m in hole WL-21-38 at the Elm Zone, And 2.09 g/t Au over 0.2m at a depth of 86.8m, and Extends known gold mineralization 150m to the west from the 2017 Elm discovery; and Gold mineralization is hosted in quartz-tourmaline-pyrite veins similar to those found at Marathon's Valentine Lake Project located 7km west of Wilding.

"The first drill holes into the Dogberry target successfully returned a new gold discovery to add to the already abundant gold mineralization identified on the Wilding Gold Project," commented, Chris Pennimpede, President & CEO. "The primary goals for Canterra going into this short first winter drill program on the Wilding Gold Project were to step-out at two of the known zones, Elm and Red Ochre, aiming to extend gold mineralization along strike and down dip and also to test a new target to make a new discovery. We accomplished all those goals and continued to hit gold mineralization in nearly every hole. We now look to summer surface work and drilling to refine new drill targets and design our future drill program to target other untested targets on the project."

The Company completed 2,335m over 16 drill holes in its first winter drill program at Wilding. This program focused on stepping out from the 2017 discovery holes at the Elm Zone and Red Ochre Complex and drilling a previously untested target in Dogberry.

The Dogberry Target was identified through trenching in early September 2016 and is adjacent to several quartz vein boulders discovered by prospecting. Trenching exposed strongly sheared conglomerate rocks, cut by quartz veins. The main shear-fill vein consists of milky-white quartz with patches, clots and disseminations of chalcopyrite and malachite and locally fine visible gold. The host Rogerson Lake Conglomerate rocks are strongly Fe-carbonatized and is locally hematized adjacent to the shear vein. The conglomerate is intruded by intensely altered (Fe-carbonatized and locally quartz veined) mafic dykes. Channel samples from the main vein returned values of 1.7 g/t Au over 0.30m and 46.5 g/t Au over 0.60m. A grab sample from the main vein assayed 78.8 g/t Au.