FLAGSHIP ASSET

Buchans

Buchans is a historic high-grade base metals district in central Newfoundland, anchored by Lundberg’s 2026 Mineral Resource Estimate: 26.08 Mt Indicated at 0.87% CuEq and 0.87 Mt Inferred at 1.54% CuEq. Exploration continues at Two Level, deposit extensions and the Buchans Mine Trend.

100

OWNED

26.08

INDICATED RESOURCE
AT LUNDBERG

106

km²

PROJECT AREA

@.91% CuEq
2026 INTERCEPT

8,000

PHASE 2 DISTRICT PROGRAM (JULY 2026)

TECHNICAL SNAPSHOT

Key project facts

OWNERSHIP

100%-owned

DEPOSIT TYPE

Zinc-copper massive sulphide system

COMMODITIES

Zinc, copper, lead, silver, and gold

INFRASTRUCTURE

Road access, power, water and historic mine facilities

CURRENT FOCUS

Two Level, Lundberg extensions and the Buchans Mine Trend

STAGE

Updated 2026 resource with follow-up exploration

THE OPPORTUNITY

The Case for Buchans

Expanded 2026 resource

Lundberg is a near-surface deposit with 26.08 million tonnes of Indicated Mineral Resources at 0.87% CuEq and 0.87 million tonnes Inferred at 1.54% CuEq. The estimate is effective September 2, 2026, at a US$20.40/t NSR cut-off. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

Established infrastructure

Decades of past mining left road access, power, water and a large historical database on site.

District-scale potential

Much of the district has never been tested with modern methods. New geophysics and drilling continue to define new high-grade targets.

EXPLORE THE PROJECT

Maps, drill data & Visuals

Deposits & Prospects

Targets & Upside

Drill Results

Geology & Geophysics

Sections

Photos

Canterra projects in central Newfoundland, showing Lundberg at Buchans, satellite deposits, Wilding, neighbouring mines and a kilometre scale bar.

Plan view of the Buchans Mine Trend showing the 2026 Lundberg Mineral Resource outline, historical mine areas, Two Level horizon and priority areas for follow-up exploration. Target outlines indicate areas for investigation and do not represent Mineral Resources.

Oblique view of the modelled Lundberg and Two Level mineralization domains relative to the 2026 Mineral Resource reporting pit shell. Remnant massive sulphide domains are shown in dark blue. The inset shows their position in plan view.

Longitudinal view comparing the 2019 (blue) and 2026 (red) Lundberg Mineral Resource extents and constraining pit shells. In the inset plan view, the black outline marks the 2026 shell. The shells are resource reporting constraints, not proposed mine plans.

Oblique sectional view looking northeast showing modelled NSR values (US$/t) within the 2026 Lundberg Mineral Resource reporting pit shell. The inset identifies the section line in plan view.

GEOLOGY & MINERALIZATION

High-grade district

The Buchans camp was one of the highest-grade examples ever mined, and much of the surrounding district has never been tested with modern exploration.

Exceptional historic grades

The Buchans mine produced about 16 million tonnes of ore grading roughly 14.5% zinc, 7.6% lead, 1.3% copper, 126 g/t silver and 1.37 g/t gold.

Two styles of mineralization

Broad, near-surface networks of mineralized veins at Lundberg, and smaller, very high-grade massive sulphide lenses like those that built the camp's production.

Modern Exploration

The project covers a large land package with more than a century of data and many untested targets. That gives several new ways to grow.

RESOURCE / MINERALIZATION INVENTORY

CURRENT RESOURCE

2026 MRE effective September 2, 2026. Indicated: 26.08 Mt at 0.87% CuEq; Inferred: 0.87 Mt at 1.54% CuEq. NSR cut-off: US$20.40/t. The June 2024 report predates this estimate.

Current Lundberg Resource

TONNAGE

CLASS

Zinc (%)

Lead (%)

Copper (%)

Silver (g/t)

Gold (g/t)

26.08 Mt

INDICATED

1.31

0.56

0.36

5.02

0.06

0.87 Mt

INFERRED

2.21

1.13

0.48

20.87

0.28

LUNDBERG EXPANSION

Current Program & Drilling

The 2026 Lundberg estimate increases Indicated tonnes by 55% to 26.08 Mt and contained copper by 34% to 94.8 kt compared with 2019. The change reflects new drilling and updated economic assumptions. Follow-up work will focus on Two Level, deposit extensions and the Buchans Mine Trend, alongside exploration of satellite deposits and assessment of processing options.

Extending Lundberg at depth

Recent drilling extended mineralization below the defined resource. One 2026 hole returned 86 metres at 0.91% CuEq, approximately 75 to 100 metres below the previous resource limit.

Two Level and the Mine Trend

Two Level contributes massive sulphide mineralization to the 2026 Inferred resource and remains open to the north, east and west. Follow-up drilling will test extensions and opportunities to upgrade resource confidence. The updated Lundberg model, historical mine records and geophysics will guide target selection along the Buchans Mine Trend.

Geophysics-led targeting

Canterra completed the largest 3D IP geophysical survey in the district's history, imaging to about 800 metres depth and defining multiple new targets for follow-up.

Latest project updates

Recent drilling, target development, and district-scale updates from Buchans.

October 6, 2026

Exploration

Canterra Minerals Expands Lundberg Indicated Mineral Resource by 55% to 26.1 Mt at the Buchans Project in Newfoundland

Indicated tonnage increases 55% to 26.1 Mt at Buchans, Newfoundland. The updated resource contains 226 kt of copper equivalent in the Indicated category.

September 9, 2026

Exploration

Canterra Minerals Intersects 144m of 0.75% CuEq, Including 76m of 1.00% CuEq at Lundberg Deposit, Newfoundland

July 8, 2026

Exploration

Canterra Minerals Commences Phase 2 Drill Program to Advance District-Scale Copper-Zinc Growth Strategy at Buchans, Newfoundland

Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) (FSE: DXZB) (“Canterra” or the “Company”) has commenced its approximately 8,000-metre Phase 2 diamond drill program in the Buchans copper-zinc district of central Newfoundland.

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