Toronto, Ontario--(Newsfile Corp. - October 20, 2026) - Magna Terra Minerals Inc. (TSXV: MTT) (the "Company" or "Magna Terra") is pleased to announce that it has received the first anniversary option payment from Lunex Metals Corp. ("Lunex") (TSX-V: LUNX) in respect of the option agreement (the "Agreement") for the Luna Roja Project ("Luna Roja" or the "Project") located in the prolific Deseado Massif region of Santa Cruz Province, Argentina (see news release dated October 6, 2025).

Pursuant to an option agreement dated October 6, 2025, and as amended September 25, 2026, Lunex can earn a 100% interest in the Project for total consideration of $2,375,000 payable in cash and Lunex common shares as outlined below:

The 1,018,519 Lunex common shares issued to Magna Terra were issued on October 6, 2026 and are subject to a four-month plus one day hold period.

"We are very pleased with the work that the Lunex team has completed to date at Luna Roja to significantly advance the Project in a short time period. We look forward to next steps as they advance the Project to a second phase drill program in 2027 and look to unlock what appears to be a potentially large epithermal precious metals system. Further, we congratulate them on the closing of their recent financing and concurrent listing on the TSX Venture Exchange. We are pleased to be a Lunex shareholder and look forward to participating in their success as they advance Luna Roja."

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

About the Luna Roja Project

The Project comprises approximately 10,000 hectares across three exploration licences in Santa Cruz Province, Argentina, within the prolific Deseado Massif, a geological province recognized for hosting significant low-sulphidation epithermal gold-silver deposits. The Project is centred on the northwest-trending Vía Láctea structural corridor, an approximately 2.8-kilometre-long mineralized trend hosting multiple gold-silver exploration targets, including Cruz del Sur, Orion and Estrella del Norte.

During the first half of 2026, Lunex completed an inaugural diamond drilling program comprising 16 drill holes totalling 2,517.5 metres (see Magna Terra news release dated July 15, 2026). 13 of 16 holes intercepted broad zones of hydrothermal alteration, silicification, brecciation, sulphide mineralization and quartz stockwork veining in two separate centres along the Vía Láctea structural corridor, including Cruz del Sur in the south and Estrella del Norte approximately two kilometres to the north.

Highlights* of the drill program include:

At Cruz del Sur, drilling intersected broad zones of hydrothermal alteration and gold-silver mineralization, including:

• 23.1 metres (from 79.0 to 102.1 metres) grading 0.36 g/t gold and 61.76 g/t silver, including 2.0 metres grading 1.15 g/t gold and 465.0 g/t silver in drill hole LR_DDH14;
• 19.0 metres (from 103.0 to 122.0 metres) grading 0.70 g/t gold and 9.38 g/t silver, including 4.0 metres grading 1.79 g/t gold and 33.15 g/t silver in drill hole LR_DDH15; and
• 10.0 metres (from 120.0 to 130.0 metres) grading 0.63 g/t gold, including 2.0 metres grading 2.04 g/t gold in drill hole LR_DDH17.

Drilling at Estrella del Norte identified a second mineralized centre within the Vía Láctea corridor, including:

• 8.0 metres (from 20.0 to 28.0 metres) grading 0.23 g/t gold and 44.05 g/t silver in drill hole LR_DDH26; and
• 6.0 metres (from 43.0 to 49.0 metres) grading 0.39 g/t gold and 16.40 g/t silver in drill hole LR_DDH27.

The results support Lunex's interpretation of an extensive, structurally controlled epithermal gold-silver system, with mineralization at Cruz del Sur remaining open to further exploration toward the north and at depth.

In addition to drilling, Lunex has completed approximately 330 line-kilometres of ground magnetic surveying and undertaken geological mapping and surface geochemical sampling, resulting in the identification and refinement of multiple additional exploration targets across the Project.

Lunex's future exploration strategy is expected to focus on expanding the known zones of mineralization, investigating the depth potential of the Vía Láctea system and systematically evaluating additional targets identified through its geophysical and geochemical programs.

Qualified Person and Technical Notes

This news release has been reviewed and approved by David A. Copeland, P.Geo., Vice President Exploration and non-independent "Qualified Person" under National Instrument 43-101 - Standard for Disclosure for Mineral Projects.

*Reported drill intercepts represent downhole lengths. True widths are not yet estimated due to the current limited understanding of the geometry of the mineralized zones.

About Magna Terra

Magna Terra Minerals Inc. is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging our ability to explore, grow, and transact projects. The Company is focused on exploring our 100%-owned Humber Copper and Shellbird Projects in Newfoundland and Labrador; our Rocky Brook Gold and Critical Metals Project in the historic Bathurst Mining Camp of New Brunswick; as well as the Prospect Or's Dream and Cape Spencer Gold Projects in New Brunswick. The Company also owns a 100% interest in six discrete precious metals projects covering approximately 79,000 hectares in the province of Santa Cruz, Argentina which are available for purchase or option/joint venture. The Company currently has active option agreements on its Great Northern Project in Newfoundland and Luna Roja Project in Santa Cruz, with Gold Hunter Resources and Lunex Metals, respectively.

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

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements regarding the Company's exploration plans and programs; the timing, scope and results of future exploration activities; the advancement and development of the Company's mineral projects; the potential for mineral discoveries; the Company's ability to realize value from its mineral property portfolio; potential option, joint venture, partnership or other transactions involving the Company's projects; and the Company's future plans, objectives and strategies. Forward-looking statements are based on management's current expectations, estimates, assumptions and projections as of the date of this news release. Forward-looking statements are typically identified by words such as "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" and similar expressions, or statements that certain events or conditions "may", "could", "would" or "will" occur.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, risks associated with mineral exploration and development; the availability of financing; commodity prices; market and economic conditions; permitting and regulatory approvals; the availability of personnel, equipment and contractors; the timing and results of exploration programs; the ability of the Company and its partners to satisfy the terms of option and other agreements; changes in laws, regulations and government policies; and other risks associated with the mineral exploration industry.

Additional information regarding risks and uncertainties applicable to the Company is available in the Company's annual and quarterly management's discussion and analysis and other continuous disclosure documents filed with Canadian securities regulatory authorities under the Company's SEDAR+ profile at www.sedarplus.ca.

Readers are cautioned that forward-looking statements are not guarantees of future performance or events and that actual results may differ materially from those expressed or implied by such statements. Readers are therefore cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319886

Source: Magna Terra Minerals Inc.