Mr. Lewis Lawrick reports

MAGNA TERRA ACQUIRES 100% INTEREST IN THREE EPITHERMAL GOLD-SILVER PROJECTS IN SANTA CRUZ PROVINCE, ARGENTINA

Magna Terra Minerals Inc. has acquired a 100-per-cent interest in three portfolio projects located in Santa Cruz province, Argentina.

The three projects -- Cerro Covadonga, El Meridiano and La Rosita -- were subject to an underlying option agreement with a private individual that has been terminated as a result of the acquisition agreement. The outstanding terms that were remaining on the option that have been eliminated were cash payments totalling $290,000 (U.S.), as well as a 2-per-cent net smelter royalty (NSR) on each project. In return for a 100-per-cent interest in the three projects, the company will pay a total of $25,000 (U.S.) and issue 1.25 million common shares of the company. The common shares to be issued under the agreement will be subject to a regulatory four-month-and-one-day hold period from their date of issuance and are subject to approval by the TSX Venture Exchange.

"We are very pleased to have completed the acquisition of these three projects that we controlled under the option. Not only have we preserved hard dollar cash, more importantly we have also eliminated the 2-per-cent NSR underlying each project. We now have 100-per-cent interest in six discrete projects covering approximately 79,000 hectares in the most active precious metals province in Argentina. This now allows us the opportunity to evaluate several options available to us to surface value for our shareholders from this extensive and under valued portfolio of highly prospective precious metals exploration assets. Among the options we will be considering is the potential 'spinout' of these projects into a stand-alone vehicle for potential future listing on a Canadian stock exchange."

- Lew Lawrick, president and chief executive officer, Magna Terra Minerals

Project highlights

Cerro Covadonga -- A 2,945-hectare low sulphidation epithermal Au project, located in the centre of the prolific Deseado Massif region of Santa Cruz province, approximately 40 kilometres north of AngloGold Ashanti's Cerro Vanguardia gold mine. Previous work by the company has identified a significant mineralized footprint covering a three-kilometre strike length, defined by rock chip and soil geochemistry, with anomalous Au (gold), Pb (lead), As (arsenic) and Hg (mercury) in veins and breccias. The main area of interest is interpreted as a major dilational fault jog, an ideal structural setting for concentrating gold-bearing fluids. Covadonga is adjacent to the company's 10,700-hectare Piedra Negra project.

El Meridiano -- A 2,970-hectare low-sulphidation Au/Ag (gold/silver) project, located 37 kilometres to the northwest of Cerro Vanguardia. Thiry-two historic shallow drill holes totalling 4,698 metres has confirmed a near-surface gold system, while a 2017 CSAMT survey undertaken by the company, identified a large, deeper and untested resistive anomaly, interpreted as the margin of diatreme structure, now the primary high-priority target for future exploration activities.

La Rosita -- A 2,900-hectare low sulphidation Au/Ag project located in the southwest corner of the Deseado Massif, neighbouring the now closed Mina Martha and Manantial Espejo silver mines. Reinterpretation of geophysical data has highlighted deeper anomalous resistive targets at the intersection of north-northeast and northwest structures. These are interpreted to be associated with favorable underlying volcanic stratigraphy hidden beneath cover.

Qualified person and technical notes

This news release has been reviewed and approved by David A. Copeland, PGeo, vice-president, exploration, and non-independent qualified person under National Instrument 43-101 -- Standard for Disclosure for Mineral Projects.

About Magna Terra Minerals Inc.

Magna Terra Minerals is a precious and critical metals focused exploration company, headquartered in Toronto, Canada. Magna Terra is focused on acquiring and advancing its high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships where appropriate; leveraging the company's ability to explore, grow and transact projects. The company is focused on exploring its 100-per-cent-owned Humber copper-cobalt project in Newfoundland and Labrador; its 100-per-cent-owned Rocky Brook gold and critical metals project in the historic Bathurst mining camp of New Brunswick; the recently acquired Prospect Or's Dream gold project, and its 100-per-cent-owned Cape Spencer gold project in New Brunswick. In addition, the company has optioned the Great Northern project in Newfoundland to Gold Hunter Resources Inc. for total cash and share consideration of $10,075,000 over a four-year period, and currently holds an approximate 19-per-cent equity interest in Gold Hunter. The company has also optioned the Luna Roja project in Argentina to Lunex Metals Corp. (formerly Andean Metals Corp.) for total cash and share consideration of $2,375,000 over a four-year period. Further, the company maintains a significant exploration portfolio in the province of Santa Cruz, Argentina, which includes its large 100-per-cent-owned Boleadora project, as well as several additional district-scale, drill-ready projects available for purchase or option/joint venture.

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