Shares Surge as Junior Miner Unlocks District-Scale Gold Potential at Wholly-Owned Project

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Monday, June 16, 2025

Owning a property near a major mine is always a smart strategy for any mining company. Combine that with gold prices hovering near all-time highs, and the stage is set for a potential surge in share price—especially when exciting property updates are shared with shareholders, as was the case this morning with one such gold explorer.

Shares of Canterra Minerals Corp. (TSX-Venture: CTM) (OTCQB: CTMCF) are on the move higher today as the company announced in a press release that they have identified five new district-scale gold targets on their 100%-owned Wilding Gold Project in Central Newfoundland, located along the Valentine Lake Shear Zone and adjacent to Equinox Gold's Valentine Mine, which is set to begin production in Q3 2025. 

These multi-kilometre-scale targets were defined through newly reprocessed geophysical data and exhibit key geological traits similar to those of the nearby Valentine Mine, which holds a 4.0 Moz M&I and 1.1 Moz inferred gold resource. The findings support a focused basal till sampling program aimed at accelerating drill targeting and enhancing the potential for new gold discoveries.

"This is a pivotal moment for Canterra," said Chris Pennimpede, CEO of Canterra Minerals. "Our technical team's work has opened up a new scale of opportunity on our Wilding Project. With these five targets in hand and a fast-track discovery plan, we believe we can advance from target generation to potential drill discoveries in a single season."

Canterra’s land position in Central Newfoundland is becoming increasingly strategic, especially with Equinox Gold (TSX: EQX) (NYSE American: EQX) advancing construction of the nearby Valentine Gold Mine following its acquisition of Calibre Mining (TSX: CXB) (OTCQX: CXBMF). The mine is poised to become the largest gold operation in Newfoundland and a major Canadian gold producer. Importantly, the same structural corridors that host Valentine’s gold deposits are believed to extend directly onto Canterra’s Wilding Project, which lies just 20 kilometres from the Valentine Mine’s processing facilities—significantly enhancing Canterra’s exploration upside.

Shares of CTM are currently up 15.79% at $0.11 while U.S. listed shares (CTMCF) are moving higher by 14.29% at $0.08 in late-morning trading.

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