Magna Terra Minerals Inc. press release

Magna Terra Partner Lunex Metals Advances Exploration and Reports Results from Initial Drill Program at the Luna Roja Project in Santa Cruz, Argentina

2026-07-15

TSXV - TSX Venture Exchange · Gold · Copper · Cobalt · Silver · Lead · Molybdenum · Arsenic · Antimony · Rare Earth Elements · Zinc · Canada · Drill Results

Toronto, Ontario--(Newsfile Corp. - July 15, 2026) - Magna Terra Minerals Inc.(TSXV: MTT)(the "Company" or "Magna Terra") is pleased to announce that partner Lunex Metals Corp. ("Lunex") has released assay results from a recently completed diamond drilling program at the Company's Luna Roja Project ("Luna Roja" or the "Project") in Santa Cruz Province, Argentina (Figure 1). The drill program, comprising sixteen diamond drill holes (LR_DDH09 to LR_DDH19 and LR_DDH23 to LR_DDH27) totaling 2,517.5 metres, was designed to test multiple targets, including the Cruz del Sur, Orion, and Estrella del Norte targets, along the Vía Láctea structural corridor, a major northwest-trending structure approximately 2.8 kilometres in length (Figure 2; Table 1). These results were originally reported in Lunex news releases dated July 2 and July 8, 2026, and are summarized below, in Table 2and Figure 3.

"We are very pleased with the work to date undertaken by the Lunex team at Luna Roja. This successful initial drill program follows up on and significantly enhances the drill success we had on the Project in 2019. The Lunex drilling campaign focused on the 2.8 km-long Vía Láctea mineralized corridor and continues to demonstrate the presence of a potentially significant epithermal system. What is most encouraging is the presence of significant widths of near surface precious metals (Au / Ag) mineralization reported in almost every hole, confirming potential strike length and identifying new zones of mineralization. While still early days, this preliminary drill program confirms that there is a potentially significant epithermal gold system present at Luna Roja, and we look very forward to Lunex's continued work 'unlocking' this potential."

~ Lew Lawrick, President and CEO, Magna Terra Minerals Inc.

"We are very encouraged by the initial results from Luna Roja. The reported drill holes intersected broad zones of hydrothermal alteration, silicification, brecciation, sulphide mineralization and quartz stockwork veining along the Vía Láctea structural corridor, confirming the presence of a large-scale epithermal system.

Importantly, the results obtained to date suggest that gold and silver mineralization at Cruz del Sur remains open both toward the north and at depth. This supports our interpretation that the Vía Láctea corridor is not an isolated occurrence, but a broader mineralized system with significant expansion potential.

The Estrella del Norte results are particularly encouraging as they confirm the presence of a new mineralized center located more than two kilometres north of Cruz del Sur. Drilling identified mineralized intervals associated with silicification, hydrothermal alteration and structures related to the Vía Láctea corridor, demonstrating that the system extends beyond the area initially defined.

In addition, drilling at Orion has helped define the geometry of the Vía Láctea structural corridor with greater precision, particularly through the intersection of the structural and lithological contact between volcaniclastics and domes associated with the main fault. This information will be critical in guiding future drilling along one of the principal structural controls of the system.

The new drilling also confirms and expands mineralization previously identified by historical drilling, validating our geological model for the corridor and supporting the interpretation that Cruz del Sur may represent the upper portion of a much larger hydrothermal system. Several priority sectors remain either undrilled or sparsely drilled."

~ Joaquin Mignaquy, CEO, Lunex Metals Corp.

Luna Roja Project Highlights

-

~10,000 hectares in 3 exploration licenses;

-

Accessible year-round via road access from Fitz Roy located 80 km to the northeast;

-

Centered along a 2.8 km section of the northwest striking Via Láctea Fault lying just 75 km northwest of Cerrado Gold's Minera Don Nicolás Mine infrastructure and 30 km north-northwest of the Las Calandrias mining and exploration tenements;

-

2019 discovery hole drilled by Magna Terra - LR DDH002 intersected 75.0 m of 0.62 g/t gold and 5.50 g/t silver(from 37.0 m to 112.0 m). The deepest part of the zone, which is oxidized, included 42.0 m of 1.01 g/t gold and 4.6 g/t silver (from 68.0 m to 110.0 m), suggesting increased grade with depth;

-

A 3 km x 800 m striking gold trend underlain by anomalous soil geochemistry and Induced Polarization ("IP") geophysical signature; and

-

Multiple drill ready targets in three distinct surface mineralized horizons including the Estrella del Norte, Orion, Cruz del Sur, and Signos target areas.

[](https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_002full.jpg)

Figure 1: Location of key mining and exploration projects in Santa Cruz Province, Argentina including the Luna Roja Project.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_002full.jpg

[](https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_002full.jpg)

Figure 2: Geological Map of the Vía Láctea Structural Corridor Showing the Location of Reported Drill Holes and Principal Targets at the Luna Roja Project.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_003full.jpg

Table 1. Collar Locations of the 2026 Drill Program at the Luna Roja Project.

| Hole ID# | Target | Easting | Northing | Altitude (m) | Azimuth | Dip | Depth (m) | | LR_DDH09 | Cruz del Sur | 589.113 | 4.759.211 | 245 | 85° | -45 | 127.0 | | LR_DDH10 | Cruz del Sur | 589.066 | 4.759.308 | 250 | 95° | -45 | 160.0 | | LR_DDH11 | Cruz del Sur | 589.044 | 4.759.353 | 252 | 83° | -45 | 188.0 | | LR_DDH12 | Cruz del Sur | 589.000 | 4.759.446 | 248 | 85° | -42 | 160.0 | | LR_DDH13 | Cruz del Sur | 588.978 | 4.759.491 | 253 | 87° | -45 | 161.0 | | LR_DDH14 | Cruz del Sur | 589.048 | 4.759.260 | 244 | 90° | -45 | 170.0 | | LR_DDH15 | Cruz del Sur | 588.981 | 4.759.400 | 248 | 91° | -45 | 212.0 | | LR_DDH16 | Cruz del Sur | 588.898 | 4.759.673 | 255 | 85° | -45 | 180.0 | | LR_DDH17 | Cruz del Sur | 588.849 | 4.759.719 | 251 | 90° | -42 | 155.0 | | LR_DDH18 | Estrella del Norte | 588.607 | 4.760.920 | 265 | 91° | -44 | 140.0 | | LR_DDH19 | Estrella del Norte | 588.564 | 4.760.965 | 261 | 90° | -44 | 200.0 | | LR_DDH23 | Orión | 588.580 | 4.760.200 | 248 | 92° | -46 | 194.0 | | LR_DDH24 | Orión | 588.730 | 4.760.200 | 273 | 91° | -42 | 146.0 | | LR_DDH25 | Orión | 588.880 | 4.760.200 | 262 | 89° | -43 | 185.0 | | LR_DDH26 | Estrella del Norte | 588.480 | 4.761.290 | 255 | 90° | -45 | 38.5 | | LR_DDH27 | Estrella del Norte | 588.478 | 4.761.290 | 250 | 90° | -60 | 101.0 |

Table 2. Highlight Results from the 2026 Drill Program at the Cruz del Sur and Estrella del Norte Targets.

| Hole ID# | From (m) | To (m) | Intercept (m)* | Au (g/t) | Ag (g/t) | | LR_DDH09 | 31.6 | 41.0 | 9.4 | 0.25 | 11.45 | | And | 82.0 | 94.0 | 12.0 | 0.39 | 1.14 | | Including | 84.0 | 85.0 | 1.0 | 2.42 | 4.70 | | LR_DDH10 | 46.0 | 62.0 | 16.0 | 0.36 | 3.96 | | LR_DDH11 | 58.0 | 82.0 | 24.0 | 0.64 | 2.73 | | Including | 66.0 | 70.0 | 4.0 | 1.56 | 3.20 | | LR_DDH12 | 69.0 | 126.0 | 57.0 | 0.26 | 2.03 | | Including | 89.0 | 116.0 | 27.0 | 0.39 | 1.29 | | LR_DDH13 | 104.0 | 128.6 | 24.6 | 0.96 | 1.51 | | Including | 104.9 | 114.0 | 9.1 | 2.16 | 2.53 | | LR_DDH14 | 79.0 | 102.1 | 23.1 | 0.36 | 61.76 | | Including | 95.0 | 97.0 | 2.0 | 1.15 | 465.00 | | LR_DDH15 | 103.0 | 122.0 | 19.0 | 0.70 | 9.38 | | Including | 112.0 | 116.0 | 4.0 | 1.79 | 33.15 | | LR_DDH16 | 83.0 | 113.0 | 30.0 | 0.10 | 0.43 | | LR_DDH17 | 120.0 | 130.0 | 10.0 | 0.63 | 1.83 | | Including | 126.0 | 128.0 | 2.0 | 2.04 | 3.30 | | LR_DDH18 | 12.0 | 18.0 | 6.0 | 0.30 | 0.87 | | LR_DDH19 | 137.3 | 145.0 | 7.7 | 0.17 | 0.88 | | LR_DDH26 | 20.0 | 28.0 | 8.0 | 0.23 | 44.05 | | LR_DDH27 | 29.0 | 37.0 | 8.0 | 0.07 | 30.15 | | And | 43.0 | 49.0 | 6.0 | 0.39 | 16.40 | | And | 76.0 | 83.0 | 7.0 | 0.21 | 3.34 | | *Reported drill intercepts represent downhole lengths. True widths are not yet estimated due to the current limited understanding of the geometry of the mineralized zones. | | | | | |

[](https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_005full.jpg)

Figure 3. Plan View of the Cruz Del Sur Sector Showing Highlighted Drill Intercepts and Interpreted Mineralized Trends Along the Vía Láctea NW-Trending Au-Ag Structural Corridor

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_005full.jpg

Drill Program Details

Estrella Del Norte Drill Results

A total of four diamond drill holes were completed at Estrella del Norte. Holes LR_DDH26 and LR_DDH27 were designed to test the structural and lithological contact between the hanging wall volcaniclastics and the footwall dome complex along the Vía Láctea Fault.

Hole LR_DDH26 was abandoned prematurely at 38.5 metres due to tool loss within a fault zone, while LR_DDH27, drilled from the same platform at a steeper inclination, successfully intersected the full width of the mineralized system.

Holes LR_DDH18 and LR_DDH19 were designed to test hydrothermal breccia structures developed entirely within the dome complex and confirm a mineralized hydrothermal breccia corridor developed within the footwall of the Vía Láctea system.

Results from this sector confirm the presence of gold and silver mineralization associated with hydrothermal breccias, stockworks and veinlets. Highlight intercepts include 8.0 m grading 0.23 g/t gold and 44.05 g/t silver in LR_DDH26; multiple mineralized intervals in LR_DDH27, including 8.0 m grading 0.07 g/t gold and 30.15 g/t silver, 6.0 m grading 0.39 g/t gold and 16.40 g/t silver, and 7.0 m grading 0.21 g/t gold and 3.34 g/t silver; as well as 6.0 m grading 0.30 g/t gold and 0.87 g/t silver in LR_DDH18, and 7.7 m grading 0.17 g/t gold and 0.88 g/t silver in LR_DDH19.

The presence of relatively elevated silver values compared to much of the drilling completed at Cruz del Sur suggests geochemical variations within the hydrothermal system and supports the interpretation that Estrella del Norte represents a second mineralized center within the Vía Láctea corridor.

As part of the ongoing geological review of the 2026 drill program, Lunex identified several unsampled core intervals within broader mineralized zones associated with some of the reported intercepts. Given the significant widths and continuity of mineralization encountered, these intervening intervals are being systematically cut, sampled, and submitted for assay in order to complete the evaluation of the mineralized system. Results from this additional sampling will be reported by Lunex once received, validated, and interpreted.

Cruz del Sur Drill Results

The 2026 drill program was designed to systematically evaluate the continuity of mineralization at the Cruz del Sur target both along strike and at depth.

All nine (9) drill holes completed at Cruz del Sur intersected intense silicification, hydrothermal brecciation, grey silica, abundant quartz-sulphide stockwork veining, disseminated sulphides and strong hydrothermal alteration.

The Vía Láctea Fault constitutes the principal feeder structure of the hydrothermal system. Gold and silver mineralization occurs within both Jurassic volcaniclastic rocks in the hanging wall and the rhyolitic dome complex exposed in the footwall, highlighting the role of the structure in controlling hydrothermal fluid flow and metal deposition.

Higher-grade gold and silver intervals are primarily associated with silicified hydrothermal breccias hosted within broader mineralized zones characterized by abundant quartz-sulphide stockwork veining, supporting the interpretation of a structurally controlled epithermal gold-silver system.

Historical drill holes LR_DDH001 and LR_DDH002 previously intersected broad gold and silver mineralized zones, including 51.4 m grading 0.26 g/t gold and 9.37 g/t silver, and 75.0 m grading 0.62 g/t gold and 5.50 g/t silver, respectively (see Magna Terra news release dated June 19, 2019).

Results obtained to date include mineralized intervals such as 10.0 m grading 0.63 g/t gold in hole LR_DDH17, including 2.0 m grading 2.04 g/t gold, indicating that the system remains open to the north.

Particularly encouraging are the results from holes LR_DDH14 and LR_DDH15, which were drilled as step-back holes relative to the historical intercepts.

Hole LR_DDH14 returned 23.1 m grading 0.36 g/t gold and 61.76 g/t silver, including 2.0 m grading 1.15 g/t gold and 465.0 g/t silver, while hole LR_DDH15 returned 19.0 m grading 0.70 g/t gold and 9.38 g/t silver, including 4.0 m grading 1.79 g/t gold and 33.15 g/t silver.

Elevated arsenic and mercury values identified in surface sampling, together with exceptionally high arsenic concentrations encountered in several drill holes, are consistent with the shallow levels of a preserved epithermal system and suggest that significant portions of the hydrothermal system may remain intact at depth beneath the levels evaluated to date.

Orion Drill Results

Holes LR_DDH23, LR_DDH24, and LR_DDH25 tested the central segment of the Vía Láctea structural corridor located between Cruz del Sur and Estrella del Norte. While drilling did not intersect significant gold or silver intervals, hole LR_DDH23 successfully intersected the Vía Láctea Fault, precisely identifying the structural and lithological contact between Jurassic volcaniclastics and the rhyolitic-dacitic dome complex.

This intersection represents a key element for refining the geometry of the corridor and improving the positioning of future drill holes designed to test this contact, which is interpreted as one of the principal controls on mineralization within the system.

Taken together, these results confirm the continuity of the hydrothermal system, indicate that the Cruz del Sur system remains open to the north, and suggest the potential for increasing metal enrichment at depth.

As part of the ongoing geological review of the 2026 drill program, Lunex identified several unsampled core intervals within broader mineralized zones associated with some of the reported intercepts. Given the significant widths and continuity of mineralization encountered, these intervening intervals are being systematically cut, sampled, and submitted for assay in order to complete the evaluation of the mineralized system. Results from this additional sampling will be reported by Lunex once received, validated, and interpreted.

Geological Interpretation

Results from Estrella del Norte confirm the presence of a second mineralized center within the Vía Láctea structural corridor, located approximately 2.0 km north of Cruz del Sur, consolidating the continuity of a mineralized hydrothermal system extending for at least 2.8 kilometres. Mineralization is associated with silicification, quartz stockworks, hydrothermal breccias and veinlets developed within both Jurassic volcaniclastics and the rhyolitic-dacitic dome complex.

Drill results obtained along the Vía Láctea corridor confirm not only lateral continuity, but also the development of broad zones of hydrothermal alteration, stockworks, breccias and mineralized veinlets. At Cruz del Sur, mineralization is associated with a moderately west-dipping structure, while at Estrella del Norte the system evolves into steeper to subvertical geometries, suggesting structural variations within the same hydrothermal architecture.

The significantly higher silver values obtained at Estrella del Norte relative to Cruz del Sur suggest possible vertical and/or lateral variations within the epithermal system, potentially reflecting differences in preservation level or structural-fluid controls along the Vía Láctea corridor.

Elevated arsenic values identified at Estrella del Norte, combined with mercury anomalies previously recognized at surface and the nature of hydrothermal alteration, remain consistent with relatively shallow levels of a preserved low-sulphidation epithermal system, maintaining open potential to identify higher-grade zones at depth along the Vía Láctea corridor.

Ground Magnetic Survey And Target Generation

In addition to drilling, Lunex completed a detailed ground magnetic survey covering approximately 6,500 hectares across the Luna Roja Project. The survey comprised 49 ground magnetic survey lines totalling approximately 330 line-kilometres (Figure 4).

The survey significantly enhanced the geological understanding of the district and contributed to the identification and refinement of multiple exploration targets beyond the areas drilled to date.

Processed magnetic products highlighted major structural corridors, magnetic highs, interpreted dome complexes, lithological contacts and zones of structural complexity throughout the property. As a result, several satellite targets have been identified or upgraded, including Omega, Signos, Alfa, Lambda and a southeastern magnetic lineament target area.

The magnetic interpretation suggests the presence of multiple structural intersections, dilation zones and hydrothermal pathways considered favourable for epithermal mineralization. These targets remain largely untested and substantially expand the exploration potential of the Luna Roja district beyond the Cruz del Sur area.

[](https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_006full.jpg)

Figure 4. Ground Magnetic Survey Highlighting Priority Exploration Targets and Interpreted Structural Corridors Across the Luna Roja District.

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/11586/305215_f015bef6c49658b4_006full.jpg

Next Steps

Future exploration will focus on follow-up drilling to expand mineralization at Cruz del Sur, testing the depth potential of the system, integrating results from Orion and Estrella del Norte, and advancing additional targets identified through ground magnetics, geological mapping, and surface geochemistry.

Previous Work

Since optioning the Luna Roja Project from Magna Terra in October 2025, Lunex has carried out prospecting, geological mapping, and ground geophysical surveys that have identified priority targets, several of which were tested during the completed 2026 drill program. Exploration to date has included the collection of 31 rock chip and 23 channel samples, as well as 330.04-line kilometres of ground magnetic surveying in advance of the drill program.

Rock chip and channel sampling resulted in the discovery of high-grade gold and silver mineralization with assays up to 13.26 g/t gold and 1,155 g/t silver. Rock samples ranged from <0.01 g/t gold to 13.26 g/t gold with 7 of the 54 samples assaying over 1 g/t gold; and ranged from <0.01 g/t silver to 1,155 g/t silver with 40 of the 54 samples assaying greater than 1 g/t silver. Notably two of the highest-grade samples (samples 1004 and 1005) assayed for elevated mercury (Hg) with values of 5,896 ppb and 4,686 ppb, a key pathfinder for gold mineralization within low-sulphidation epithermal systems.

At the south end of Estrella del Norte, 3 channel samples were collected that assayed 1.97 g/t gold and 7.2 g/t silver over 1.0 metre, 4.02 g/t gold and 4.03 g/t silver over 1.0 metre; and 13.26 g/t gold and 8.2 g/t silver over 1.0 metre from an outcrop of altered rhyolitic dome rocks with fine disseminated sulphides and stockwork-style mineralization.

At Cruz del Sur, at the south end of the Via Láctea Fault, chip samples were collected that assayed 1.65 g/t gold and 1,155 g/t silver over 1.0 metre and 1.48 g/t gold and 241 g/t silver over 1.0 metre from hydrothermal breccia with quartz-adularia- sericite alteration.

About the Luna Roja Project

The Luna Roja Projectis located in the prolific Deseado Massif region of Santa Cruz Province approximately 75 km to the northwest of the new Minera Don Nicolás mine and 30 km to the north-northwest of the Las Calandrias project. The Project is accessible year-round, and benefits from access to infrastructure including roads, power, and water.