Magna Terra Minerals Inc. announced that it has commenced an exploration program at its flagship 100%-owned Great Northern Project, located in western Newfoundland. Great Northern is a proven gold environment with existing Mineral Resources and numerous untested gold trends over a cumulative 25+ kilometre strike. The Project is located within a geological setting analogous to the nearby Valentine Gold Project and with the potential to host multi-million ounce gold deposits.

These untested gold trends highlight the discovery potential of the Project and provide the opportunity for deposit growth. The exploration program will consist of surface work including soil sampling, prospecting, and geological mapping of gold systems with the goal of extending known gold trends and better defining drill targets. Specifically, the exploration program will focus on the Viking Zone, which includes the Viking North and Kramer trends; and the Rattling Brook Zone, which includes the Apsy, Furnace, and Incinerator trends.

Work at the Viking and Rattling Brook zones will be focused on these gold bearing structures with a cumulative strike of nearly 15 kilometres. A total of 1,250 soil samples and numerous prospecting samples will be collected as part of the program and will provide requisite data to better define drill targets. The Great Northern Project is comprised of two separate claim blocks - Great Northern and Viking Zones totalling 13,775 hectares, that are located near the communities of Sops Arm, Pollard's Point, and Jackson's Arm, Newfoundland and Labrador.

The Project is centered along a 30-kilometre section of the Doucers Valley Fault, a significant geological control on, and host to, several gold deposits and untested prospects, including the Rattling Brook and Thor Deposits, Incinerator, Furnace, Jacksons Arm, Viking, Kramer, Viking North, and Little Davis Pond trends; a proven gold environment with existing Mineral Resources and numerous untested gold trends over a cumulative 25+ kilometre strike. Gold mineralization is hosted within a variety of rock types that include Precambrian or Ordovician granites, or younger volcanic and sedimentary rocks, typically along splays off the Doucers Valley Fault, a similar geological environment to Marathon Gold Corporation's Valentine Gold Project. Alteration consists of mesothermal style quartz ¦ iron carbonate ¦ sulfide veins and stockworks with 2 to 5% total sulfides consisting of pyrite, galena, chalcopyrite or sphalerite, and locally show trace amounts of visible gold.

Several drill targets and specific opportunities for mineral resource expansion and discovery have been identified by the Company based on recent field programs and a comprehensive review of historic and current exploration data. This work, in conjunction with that of previous operators on the Property, has identified the importance of fault control on gold mineralization. These major target areas for near-term drill testing are: The Apsy Zone - Existing Mineral Resource with potential for minimum 800 metre extension.

Incinerator Trend - 1.8-kilometre long gold-bearing east-west fault only tested by four historic drill holes each intersecting gold mineralization: 2.32 g/t gold over 4.1 metres (drill hole RB-41); 1.06 g/t gold over 15.6 metres (drill hole RB-39); 1.00 g/t gold over 9.7 metres (drill hole RB-37); and 1.78 g/t gold over 4.0 metres (drill hole RB-35). Furnace Trend - 1.5-kilometre long trend with rock grab samples assaying up to 5.60 g/t gold along east-west fault zone. Kramer Trend -1.5-kilometre long northeast striking zone of gold mineralization centred on the contact between granites and quartzites.

Highlight assays from previous drill holes KR-10-07 and KR-10-08 include 1.12 g/t gold over 20.05 metres and 1.50 g/t gold over 14.4 metres, respectively. Viking Trend - 5.5 kilometre long by up to 40-metre wide deformation and alteration zone with gold grades of 0.45 g/t gold over 20.0 metres in drill hole VK-16-151, 0.37 g/t gold over 16.5 metres in drill hole VK-11-125, as well as local high grades as indicated by 7.43 g/t gold over 1.0 metre in drill hole VK-16-155. Viking North Trend - 8-kilometre long east-west striking fault zone, sub-parallel to the Viking Trend, that is host to gold mineralized rocks and soils from reconnaissance sampling assaying up to 2.11 g/t gold and 380 ppb gold, respectively.

Jacksons Arm Trend - 2.4-kilometre long gold zone defined by numerous gold bearing rock and soil samples and from drilling in late 2020.