Canterra Minerals Corporation announced that subsequent to defining new targets on the Company's Lemarchant Project that drilling has commenced with a drill mobilized to the Lemarchant Project. The Lemarchant Project is located in central Newfoundland approximately 50 kilometres (km) south of Millertown. The drill program is taking advantage of the winter drilling window, which is typically January through to March.

Summary of Drill Targets: Shallow IP chargeability anomalies of similar magnitude to the established deposit, located in favourable geology northwest of known Lemarchant mineralization, with no previous drilling Shallow target anomalies that follow the fault displaced continuation of Lemarchant Deposit, coinciding with the IP anomaly trend Strong chargeability IP anomaly with potential deep extension of Lemarchant mineralization in down thrusted graben structure IP/magnetic anomaly and EM Conductor in prospective geological horizon, with no previous drilling Drilling within the deposit's eastern portion near the transition of Indicated and Inferred category resources. Drilling is designed to determine if the core of the deposit may be expanded on its eastern margins in an area hosting some of the deposit's largest thicknesses and highest grades. Newfoundland and Labrador Junior Exploration Assistance: Canterra would like to acknowledge financial support it may receive from the Junior Exploration Assistance Program from the government of Newfoundland and Labrador related to the completion of this drilling program.