Explorer Drilling Now in a Established Copper-Gold Region of Canada

Canterra Minerals Corp (TSX-V: CTM) (OTCQB: CTMCF) is unlocking a fully consolidated copper-gold district in Newfoundland. With active projects and early-stage positioning, it’s targeting high-grade resource discoveries in a resurging mining hotspot. Canterra Minerals controls one of the only fully consolidated copper-gold districts in central Newfoundland. It adjoins the Valentine Gold Mine, which is on track to become the largest gold operation in Atlantic Canada.

The company’s projects, anchored by Buchans and Wilding, are all road-accessible, which keeps exploration costs low and progress fast. Early results have outlined multiple mineralized zones, giving investors a mix of near-term updates and long-term upside.

Canterra’s strategy is straightforward: define the resource, attract a buyer, and exit. They’re not looking to build a mine themselves. Instead, they focus on making a discovery big enough to interest major players. That reduces complexity and keeps capital working toward growth.

A 10,000-meter drill campaign is already underway. It’s fully funded, backed by nearly $4 million in cash and no debt. Results are expected every two weeks from June 2025.

If you’re looking for exposure to copper and gold in a mining-friendly region, Canterra is a story with momentum and one that’s just getting started.

Retail investors often worry about drill risk, financing, and permitting. Canterra mitigates these with an experienced technical team, strong financial backers, and an ultra-permissive jurisdiction. Newfoundland’s permitting process takes under 30 days, and the company maintains strong community relations, thereby easing operational risks associated with social license and regulation.

And when it comes to backing, respected names like Eric Sprott and Michael Gentile bring serious credibility.

Canterra Minerals Corp (TSX-V: CTM) (OTCQB: CTMCF) is a diversified exploration company focused on discovering tier-one copper and gold deposits in the central Newfoundland mining district¹. The company has uniquely consolidated all known copper-gold mineralization in this prolific but historically fragmented region. Its projects are located near historic mines that produced copper, zinc, lead, silver, and gold. Its gold assets lie along a 60 km trend connected to Equinox Gold’s Valentine Mine, currently under construction. Canterra’s position in this emerging district places it early in the exploration cycle, as Newfoundland experiences renewed interest driven by recent high-grade gold discoveries.

• No Debt

• $4M cash on hand

The company is well-capitalized, with nearly $4 million in the bank and no debt, confidently funding its 2025 exploration program. Notable backers include resource-focused investors, like Michael Gentile and Eric Sprott, who have previously led successful juniors through to high-value acquisitions.

To guide the next phase of drilling, Canterra is conducting 3D geophysical surveys across the Buchans property. The program includes AI-powered analysis from VRIFY AI, aiming to refine drill targets to depths of 800 meters.

Assays (lab analysis of samples) are pending from additional Phase 1 holes at the Lundberg deposit and the nearby Pumphouse target, located 1.5 km northeast of Lundberg. Pumphouse is a promising zone believed to be a repeat of the mineral-rich Oriental Mine horizon. It is situated 500 meters northwest of the old Oriental Mine, which operated from 1935 to 1983.

Canterra’s broader project portfolio in the Central Newfoundland Mining District, including Buchans, hosts a combined 26 million tons (Mt) of Indicated and Inferred resources across 7 deposits, with the goal of increasing this to 40Mt.

As it stands, Canterra has the second-largest critical minerals resource base in Newfoundland, and it aims to become the largest critical minerals resource holder in Newfoundland in 2025.

Compared to peers like Firefly Metals and Kodiak Copper, Canterra presents at a much lower valuation. Canterra’s complete consolidation of copper-gold assets in the region gives it strategic control that management believes is unmatched by competitors.

Copper’s role in electrification and grid expansion makes it a critical mineral for Canada’s economic future. As federal policies boost support for domestic supply chains, explorers like Canterra Minerals are well-positioned.

In the long term, copper demand is expected to grow by over 40% by 2040², driven by its critical role in electric vehicles, renewable energy, data centers, and digital infrastructure. This increase in demand has highlighted a significant forecasted supply deficit.

Based on the pipeline of existing and announced copper mining projects, there is set to be a 30% supply deficit by 2035 in the STEPS scenario (Stated Policies Scenario). This supply gap widens to 35% in the APS (Announced Pledges Scenario) and over 40% in the NZE Scenario (Net Zero Emissions by 2050) in the same year³.

The copper price on the London Metals Exchange (LME) is up approximately 8.3% year-to-date. U.S. tariffs and supportive Chinese demand have increased volatility, but the big picture for demand remains strong, with the IEA projecting the world is heading toward a major copper shortage as demand accelerates³.

Gold demand reached a nine-year high⁴ in Q1 2025, totaling 1,206 metric tons, the strongest start to a year since 2016. Gold prices have reached record levels in 2025, passing $3,500/oz and are forecast by Goldman Sachs to climb to US$3,700/oz by year-end⁵.

Gold’s role as a hedge against global instability remains a key attraction for investors. The surge is fueled by global economic uncertainty, geopolitical tensions, and concerns about inflation and recession, prompting both institutional and retail investors to seek gold as a safe haven.

Canterra’s exposure to both metals gives it strong thematic relevance.

The company fully owns its deposits and exploration potential and is focused on delivering a discovery through its own drilling program. Recent developments and early 2025 drill results have attracted industry attention. Management expects to continue pursuing these opportunities and will announce any significant progress as it materializes.

CEO Chris Pennimpede and board members such as Josh Serfass have helped guide previous companies to successful exits, including Underworld Resources (Kinross), Northern Empire Resources (Coeur Mining), and Integra Gold (Eldorado Gold).

Canterra Minerals is led by an accomplished management team and board with deep expertise across geology, finance, corporate development and capital markets. From advancing early-stage exploration projects to executing major mining transactions, the team brings decades of hands-on experience in building value in the resource sector. The team also has a proven M&A track record in resource exploration.

Their combined backgrounds span successful roles at leading exploration companies, global mining firms, investment banks and entrepreneurial ventures, positioning Canterra to execute on its strategic growth in critical minerals and gold exploration. Some of the management and board members include:

President and CEO Christopher Pennimpede, P.Geo, is a professional geologist with deep expertise in mineral exploration and mining business development. He has worked extensively with early-stage companies and previously served as VP of Corporate Development at Contact Gold Corp. His earlier roles include exploration geology positions at Underworld Resources, which was later acquired by Kinross Gold Corp (NYSE: KGC), and Northern Empire Resources, which was acquired by Coeur Mining Inc (NYSE: CDE).

Vice President of Exploration, Paul Moore, has over 25 years of experience in mineral exploration and mining across Canada. He has advanced multiple projects to the Resource Estimation and Preliminary Economic Assessment stages and managed large-scale, remote exploration programs with annual budgets exceeding $9 million and teams of up to 60 people.

Chairman and Director Andrew Farncomb, B.Comm. is a merchant banker and M&A advisor with extensive capital markets experience, formerly a partner at Paradigm Capital.

CFO, Sara Hills, CPA, CA is a senior finance executive with over 20 years in mining accounting and leadership roles, including with KGHM International and Teck Resources.

Josh Serfass, Director, is a corporate development executive known for driving innovation in mining and helping lead Integra Gold through a C$600M acquisition by Eldorado Gold Corp (NYSE: EGO).

To learn more about the team leading Canterra Minerals, download our detailed research report.