Magna Terra closes $3.75M non-brokered private placement

Toronto, Ontario--(Newsfile Corp. - September 22, 2026) - Magna Terra Minerals Inc . (TSXV: MTT) (the " Company " or " Magna Terra ") is pleased to announce that it has completed its previously announced non-brokered private placement of gross proceeds totalling $3,750,000.80 (the " Offering ").

The Offering consisted of an issuance of 8,421,056 premium flow-through common shares of the Company at a price of $0.2375 per premium flow-through common share and 10,000,000 common shares of the Company at a price of $0.175 per common share.

"We are very pleased with the significant investor response and resulting oversubscribed demand for this upsized financing. Further, we would like to acknowledge the continued support of our largest shareholder Michael Gentile, as well as several other long-term shareholders who participated in the Offering. The proceeds from the Offering will allow us to continue to expedite exploration programs toward first phase drill programs on our key focus projects in Newfoundland and New Brunswick, as well as undertake key initiatives to surface value for our shareholders from the remainder of our deep project pipeline; specifically, our portfolio of precious metals projects in Santa Cruz Province, Argentina."

~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.

The gross proceeds from the issuance of the premium flow-through common shares will be used to incur "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) related to the Company's mineral exploration projects, primarily for exploration programs at the Company's Humber and Shellbird Projects in western Newfoundland and the Prospect Or's Dream, Rocky Brook, and Cape Spencer Projects in New Brunswick.

Insiders of the Company participated in the private placement by acquiring an aggregate of 1,285,712 premium flow-through common shares for proceeds of $305,356.60, and 130,194 common shares for proceeds of $22,783.95. More specifically, (i) Michael Gentile, an Insider of the Company, has subscribed for 1,285,712 premium flow-through common shares at a price of $0.2375 per share; and (ii) Patricia Kajda, a director of the Company, has subscribed for 130,194 common shares at a price of $0.175 per share.

Immediately after the closing of the Offering, (i) Mr. Gentile shall hold, directly and indirectly, or exercise control over 19,757,379 common shares (representing 15.6% of the outstanding common shares of the Company); and (ii) Ms. Kajda shall hold, directly and indirectly, or exercise control over 130,194 common shares (representing 0.1% of the outstanding common shares of the Company), 150,000 restricted share units, and 1,050,000 stock options of the Company.

Ms. Kajda, a director of the Company, has disclosed her interest to the Board of the Directors of the Company pursuant to Section 120 of the Canada Business Corporations Act to the effect that she may participate in the private placement and subscribe to the common shares. The terms of the Offering and the agreements relating thereto were submitted to and unanimously approved by way of a resolution adopted by all the directors of the Company other than Ms. Kajda. Ms. Kajda did not vote on the resolution to approve the private placement and the agreements relating thereto. The remaining directors determined that the private placement was in the best interest of the Company.