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

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

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VANCOUVER, British Columbia, Oct. 28, 2025 (GLOBE NEWSWIRE) — Canterra Minerals Corporation (TSXV:CTM) (OTCQB: CTMCF) (FSE:DXZB) (“Canterra” or the “Company”) is pleased to announce the closing of its previously announced a non-brokered private placement (the “Private Placement”) led by strategic investors, including Michael Gentile, one of Canterra’s largest shareholders and a leader in Canadian resource investing (see news release dated October 7, 2025). Pursuant to the Private Placement, the Company issued 16,700,000 units (the “Units”), at a price of $0.12 per Unit for gross proceeds of $2,004,000.

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Each Unit consists of one common share (a “Share”) and one half of one common share purchase warrant (each whole warrant a “Warrant”) of the Company. One Warrant entitles the holder to purchase one Share of the Company at a price of $0.20 for 12 months following the closing date of the Private Placement.

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The Company intends to use the net proceeds from the Private Placement to drill its exploration stage Wilding Gold project in the central Newfoundland Mining District adjoining Equinox Gold’s Valentine Mine and for general working capital purposes.

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“The closing of this financing positions Canterra to immediately mobilize a drill rig to the Wilding Gold Project, where we have multiple high-grade, drill-ready gold targets. With three rigs active across two flagship projects in the Central Newfoundland Mining District, we’re maximizing our discovery potential and accelerating our exploration momentum,” said Chris Pennimpede, CEO of Canterra Minerals.

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All figures are in Canadian dollars. No finders’ fees were paid on Private Placement. The Unit Shares and Warrant Shares are subject to a hold period ending on March 1, 2026, pursuant to applicable Canadian securities laws.

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Cairn Merchant Partners LP, a company controlled by Canterra Chairman and Director Andrew Farncomb, purchased 1,294,999 Units in the Private Placement. As such, the Private Placement constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Securityholders (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Shares subscribed for by insiders, nor the consideration for the Shares paid by such insiders would exceed 25% of the Company’s market capitalization.

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The Offered Securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and may not be offered or sold to, or for the account or benefit of, any person in the United States or any “U.S. person”, as such term is defined in Regulation S under the Securities Act, absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.