Canterra Minerals Corporation announced results from a recently completed ground gravity survey over the Tulks East Project in central Newfoundland, Canada. The survey returned promising results, including detection of several positive gravity anomalies in underexplored areas proximal to the known zones of polymetallic massive sulphide mineralization. The gravity survey successfully identified the known massive sulphide mineralization on the project, and identified that the gravity anomaly is open-ended extending northwest 600 metres beyond previous drill testing, suggesting that massive sulfide mineralization may extend further than previously thought; The survey operator, Abitibi Geophysics Inc. (?Abitibi?), has completed initial modeling of the anomaly and has recommended the gravity anomaly extension as a priority drill target; Additional gravity anomalies have been detected in underexplored areas, including several other anomalies recommended as drill targets; Based on these results, Canterra has initiated a review of the gravity data in conjunction with other available exploration datasets.

This review will assess the targets recommended by Abitibi as well as attempt to identify additional deeper drilling targets associated with the known Tulks East massive sulphide mineralization. The Tulks East project hosts the potential for the discovery of additional mineralization at depth, as well as on other mineralized horizons considered prospective for new high-grade VMS discoveries. The known mineralized zones have been historically tested along a 1,000 m strike length where three massive sulphide lenses, Tulks East A/B/C zones, have been discovered.

Though a modern resource estimate has not been completed for the Tulks East project, the project is considered to represent one of the accumulations of massive sulphides in the Tulks Volcanic Belt. Tulks East has not been drilled since 2014, which was completed by previous operators. Highlights from this drilling at the A Zone included 8.35 m averaging 0.36% Cu, 0.40% Pb, 5.60% Zn, 27.7g/t Ag, and 0.608g/t Au at a vertical depth of 450 m, while the B Zone returned a mineralized intercept of 0.70 m averaging 0.27% Cu, 0.15% Pb, 1.32% Zn, 16.2g/t Ag, and 0.733g/t Au at a vertical depth of approximately 140 m. The Tulks East Project is underlain by volcanic rocks of the Tulks Group (Victoria Lake supergroup) and hosts the A, B & C Zones originally discovered by Abitibi-Price Incorporated in 1977.

The project is part of Canterra's 684 km2 land holdings in central Newfoundland and is located less than 50 kilometres southwest of Teck Resources former Duck Pond mine and less than 40 km south of Canterra's Buchans project (former Buchans mine).