Magna Terra Minerals Inc has announced the acquisition of the Humber Copper-Cobalt Project located in western Newfoundland. Acquired via staking, the Humber Project is a significant exploration initiative focused on critical minerals and metals. The project comprises 1,325 claims across 10 mineral licenses, covering a substantial area of 33,125 hectares. This strategic acquisition underscores Magna Terra's commitment to expanding its portfolio and exploring valuable mineral resources, positioning the company at the forefront of critical mineral exploration in the region, with potential for significant future development.

The Humber Copper-Cobalt Project is underlain by rocks of the sedimentary Humber Arm Allochthon, which exhibit anomalous levels of copper (Cu), cobalt (Co), lead (Pb), silver (Ag), molybdenum (Mo), gold (Au), arsenic (As), and antimony (Sb) in lake sediment values (Figures 2 to 6). This metal signature and geological environment suggest the area could host Sediment-hosted Stratiform Copper (SSC) Deposits. SSC Deposits account for 60% of global cobalt production and 20% of global copper production, found in regions like the Central African Copper Belt, analogous to the Humber Project's setting. The exploration potential is further supported by nearby base metal deposits, including the York Harbour and Daniels Harbour Deposits at lower stratigraphic levels in the region.

The Humber Project has significant potential for the discovery of Cu-Co deposits, being host to regionally anomalous levels of Cu, Co, Ag, Pb, Au, Mo, As, and Sb in lake sediments. It is analogous to major SCC deposit regions such as the Kalahari Copper Belt (Namibia and Botswana), the Central African Copper Belt (Zambia and DRC), and the Kupferschiefer Belt (Poland). Globally, these SCC deposit types represent 20% of Cu production and 60% of Co production. The project spans 33,125 hectares in Newfoundland and Labrador, a top-tier mining jurisdiction, with year-round road access. Acquired through staking, it offers a cost-effective acquisition with no royalties or option payments, providing a first-mover advantage in an unexplored area with significant potential.

Lew Lawrick, President and CEO of Magna Terra Minerals Inc. expressed enthusiasm about acquiring an early-stage project in Newfoundland focused on critical metals. He highlighted that this previously unrecognized environment for polymetallic copper-cobalt deposits offers Magna Terra shareholders exposure to multiple commodities and the potential of a discovery-stage project. These deposits are significant global producers of copper (20%) and cobalt (60%) with valuable by-products like molybdenum, silver, gold, uranium, rare earth elements, and platinum group elements. Acquired at minimal cost through staking, the Humber Project leverages Magna Terra's expertise in Atlantic Canada and offers low-risk, high-potential returns. Lawrick emphasized the company's strategic approach, including the recent optioning of the Great Northern Project to Gold Hunter Resources Inc., which maintains exposure to precious metals discovery. This creative strategy aims to generate shareholder value while minimizing dilution during challenging equity markets. The Humber Project provides significant upside potential for critical minerals discovery, aligning with the bullish macroeconomic outlook for these minerals essential to the global energy transition.