Magna Terra Receives Anniversary Payment from Gold Hunter

Magna Terra Minerals Inc. has announced the receipt of a first anniversary option payment from Gold Hunter Resources Inc. for the Great Northern Project in Newfoundland. This payment includes $450,000 in cash and 35,211,267 common shares of Gold Hunter, valued at $2.75 million. With this transaction, Magna Terra's ownership in Gold Hunter rises to approximately 30.67%.

The option agreement, valued at $9.5 million, includes payments over a two-year period, with the next milestone due by the second anniversary. Magna Terra is also entitled to appoint a board member to Gold Hunter, provided its shareholding remains above 10%.

The Great Northern Project encompasses 26,237 hectares and several gold deposits along the Doucers Valley Fault. This area is characterized by various mineralized trends and hosts a variety of rock types, promising extended exploration and potential gold discoveries.