Canterra Minerals Identifies New Exploration Targets Outside of Existing Resource and Expands Boomerang Project

Vancouver, April 23, 2025 - Canterra Minerals Corp. (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB) ("Canterra" or the "Company") is pleased to announce the identification of multiple new geochemical and geophysical targets at its Boomerang Project. Additionally, Canterra confirms the expansion of the Boomerang Project through the staking of the Hill Top massive sulphide target in the Central Newfoundland Mining District.

HIGHLIGHTS:

• Multiple New Exploration Targets: Results from comprehensive 2024 geochemical sampling program and review of past geophysical survey datasets have identified several high-priority targets at the Boomerang Project outside of the existing resource base

• Strategic Project Expansion: The Company has expanded the Boomerang Project through its staking of the Hill Top target, covering a 700m long gravity anomaly target with 13 adjacent down slope soil samples assaying >1000ppm Copper

• Where exposed, this mineralization has returned assays of up to 1.5% Cu (copper), 4.68% Zn (zinc), and 16.5 g/t Ag (silver) in historical grab samples

• High-grade Existing Resource: Boomerang* hosts a historical mineral resource comprised of Indicated Resources of 1.4 million tonnes at 0.5% Cu, 7.1% Zn, 3.0% Pb, 1.7 g/t Au, and 110.4 g/t Ag and Inferred Resources of 0.3 million tonnes at 0.4% Cu, 6.7% Zn, 2.9% Pb, 1.3 g/t Au and 96.5 g/t Ag

• Consolidated Land Position: This expansion strengthens Canterra's dominant position in one of North America's most promising volcanogenic massive sulphide ("VMS") mineral districts

"The expansion of the Boomerang Project through our proactive staking program demonstrates our team's geological expertise and commitment to cost-effective growth," added Chris Pennimpede. "By identifying and securing these highly prospective massive sulphide targets in competitive staking, we've added significant value to our portfolio with minimal expense. The presence of massive sulfides at surface, coupled with the property's location within the same proven VMS district as our existing resource, presents an exceptional opportunity to further develop our Boomerang Project."

BOOMERANG PROJECT ADVANCES

The Boomerang Project, located approximately 70 kilometres ("km") southwest of Buchans, Newfoundland, is host to the Boomerang-Domino deposit and the Hurricane prospect. The project contains a historical mineral resource estimate prepared by previous operators comprised of Indicated Resources of 1.4 million tonnes grading 0.5% copper, 7.1% zinc, 3.0% lead, 1.7 g/t gold, and 110.4 g/t silver.

Recent work completed by Canterra included a detailed geochemical review, whole rock sampling, and geophysical review aimed at further advancing the understanding of the Project's potential. This work has delineated new target areas exhibiting characteristics indicative of mineralization, similar to the high-grade Boomerang-Domino deposit (see figure 1).

Figure 1. Boomerang property targets are circled in white. Soil results in zinc ppm are shown with high-grade mineralization projected to surface in red.

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Figure 2. Boomerang-Domino Resources and Hurricane Prospect Long Section. Resource expansion possibilities along prospective horizons and at depth.

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TELEPHONE HILL TARGET

Particularly encouraging are the results from the southwestern extension of the Boomerang trend, where recent whole rock sampling indicates zones of sulphide alteration and sodium depletion, hallmark indicators of VMS-style mineralization. Previous results 2 km southwest of the Boomerang deposit, at the Telephone Hill target shows a Boomerang-like lithogeochemical signature coincident with EM, gravity and Zn-soil anomalies. Historical drilling in this area is reported to have intersected quartz pyrite stockwork style mineralization and strongly sericite-altered felsic volcanic rocks potentially indicative of massive sulphide in proximity.

BOOMERANG PROPERTY EXPANSION

In a significant expansion of its central Newfoundland critical minerals portfolio, Canterra has added the Hill Top target to the Boomerang Project through strategic staking. The Hill Top target hosts massive sulphide mineralization exposed at surface grading up to 1.5% Cu, 4.68% Zn, and 16.5 g/t Ag in historical grab samples (see Qualified Person).

The newly staked 475 hectare area is located approximately 7 kilometres northeast of the Company's existing Boomerang-Domino deposit and 5 km southwest of the Company's Tulks Hill Deposit located within the same stratigraphic Tulks Volcanics Belt.

EXPLORATION PLANS

Canterra is fully funded to complete its planned exploration activities in 2025 including:

• State-of-the-art deep-seeking 3D Array Induced Polarization ("3DIP") geophysical surveys across multiple target areas with the Buchans Project (February 19, 2025 news release) and up to 10,000 m of diamond drilling to coincide with results from the 3DIP geophysical surveys

• Continued regional exploration across the Company's extensive land package in central Newfoundland, including the expanded Boomerang Project.

Figure 3. Canterra's Central Newfoundland Mining District properties.

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*Resource Notes

Boomerang and Domino Historical Mineral Resource Estimates are based on a 1% Zn cutoff grade as reported in the Technical Report entitled "Messina Minerals Inc.: Tulks South Property, Central Newfoundland, Canada Technical Report" prepared for Messina Minerals Inc. prepared by Pamela De Mark and Charles Dearin, P.Geo. (Snowden). Report Date August 1, 2007. The report is available on the Company's website at www.canterraminerals.com. Canterra is not treating the Boomerang and Domino Mineral Resource Estimates as current resource estimates but rather as historical resources as neither Canterra nor the QP verified the associated mineral resource estimates as current mineral resources or mineral reserves.

Grant of Stock Options

Further to the Company's news release dated March 18, 2025, the Company has granted stock options to Spark Newswire (the "Options"), which represents the balance owing under its marketing consulting and investor relations agreement. A total of 383,866 Options were granted, valid for a period of five years at $0.075 per option and will vest pursuant to the requirements of the TSX Venture Exchange.

About Canterra Minerals

Canterra is a diversified minerals exploration company focused on critical minerals and gold in central Newfoundland. The Company's projects include six mineral deposits located in close proximity to the world-renowned, past producing Buchans mine and Teck Resources' Duck Pond mine, which collectively produced copper, zinc, lead, silver and gold. Several of Canterra's deposits support current and historical Mineral Resource Estimates prepared in accordance with National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards for Mineral Resources and Mineral Reserves current at their respective effective dates. Canterra's gold projects are located on-trend of Calibre Mining's Valentine mine currently under construction and cover a ~60 km extension of the same structural corridor that hosts mineralization within Calibre's mine project. Past drilling by Canterra and others within the Company's gold projects intersected multiple occurrences of orogenic style gold mineralization within a large land position that remains underexplored.

Qualified Person

Paul Moore MSc. P.Geo. (NL), Vice President of Exploration for Canterra Minerals Corporation, a Qualified Person within the meaning of National Instrument 43-101, has reviewed the technical disclosure in this news release for accuracy and either prepared or supervised its preparation. Reported outcrop assays for the Hill Top prospect are historical in nature having been collected by previous operators other than Canterra. Quoted assays are derived from reports of work filed by past operators with the Newfoundland and Labrador Government.

ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION
Chris Pennimpede
President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including statements with respect to estimated mineral resources, the opening of avenues for substantial discoveries within the belt, the Buchans Project being ripe for a modern approach with significant exploration potential for high grade VMS mineralization, the Company anticipating being strongly positioned to unveil the next mineral discovery in central Newfoundland. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; as well as those risks and uncertainties identified and reported in the Company's public filings under its SEDAR+ profile at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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