Magna Terra Announces Receipt of Final Payment for Noyell Option Agreement

TORONTO, May 16, 2024 - Magna Terra Minerals Inc. (the "Company" or "Magna Terra") (TSXV:MTT) is pleased to announce that pursuant to an option agreement with Opus One Gold Corporation ("Opus One") regarding the Noyell Project (see press release dated April 12, 2019), Magna Terra has received the fifth and final anniversary option payment of $200,000, which completes Opus One's requirements to earn a 100% ownership interest in the Noyell Project per the terms of the option agreement.

About Magna Terra
Magna Terra Minerals Inc. is a precious metals focused exploration company, headquartered in Toronto, Canada. Magna Terra owns two district-scale, resource stage gold exploration projects in the top-tier mining jurisdictions of New Brunswick and Newfoundland and Labrador. Further, the Company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina which includes its Boleadora Project being advanced by Newmont Corp. under an option to purchase agreement; a precious metals discovery on its Luna Roja Project proximal to Cerrado Gold's operating Don Nicholas Project, as well as several additional district scale drill ready projects available for purchase or option/joint venture.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:
Magna Terra Minerals Inc.
Lewis Lawrick
President and CEO, Director
647-478-5307
Email: info@magnaterraminerals.com
Website: www.magnaterraminerals.com

SOURCE: Magna Terra Minerals Inc.