Canterra Minerals Reports AGM Results

Vancouver, British Columbia--(Newsfile Corp. - June 12, 2024) - Canterra Minerals Corporation (TSXV: CTM) (OTCQB: CTMCF) ("Canterra" or the "Company") is pleased to announce the results from the Annual General and Special Meeting of shareholders (the "Meeting") which was held on June 11, 2024 in Vancouver, British Columbia.

A total of 65,728,457 shares or 44.17% of the outstanding shares of the Company were represented in person or by proxy and were voted at the Meeting and voted overwhelmingly in favour of all the matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Management Information Circular dated May 3, 2024 (the "Circular").

The nominees for directors were elected as set out in the following table:

Chris Pennimpede, President and CEO of Canterra commented, "I would like to welcome Joanne as an official member of the Board of Directors. We look forward to her insights and contributions that she will add to the team as we continue to grow the Company as a premier critical minerals explorer in central Newfoundland."

Annual General and Special Meeting

The term of office for the current board of directors expired at the Meeting; all five of the directors were nominated for re-election and will continue on the board of directors for another term with shareholder approval. Joining them is newly elected director Joanne Kearney, who joined Canterra earlier in the year as a technical advisor and brings more than 20 years of experience advising Canada's mining and capital market industries with a focus on transactional communications, corporate affairs and crisis management (see news release dated March 18, 2024 for further details). Shareholders also approved the appointment of Davidson & Company LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration.

At the Meeting, shareholders also approved the Company's Omnibus Incentive Plan (the "Plan") to replace the Company's former stock option plan. The Plan is a "rolling up to 10%" share-based compensation plan pursuant to which up to an aggregate of 10% of the Company's common shares issued and outstanding may be reserved for issuance under it and any other security-based compensation plans of the Company, in the form of stock options, restricted share units ("RSUs") and deferred share units ("DSUs"). At the time of approval, up to 14,881,512 share-based compensation can be issued under the Plan, with 1,845,210 available for issuance. A copy of the Plan and further details are included in the Circular which is available under the Company's profile on SEDAR+ at www.sedarplus.ca. The Plan remains subject to the final acceptance of the TSX Venture Exchange.

About Canterra Minerals

Canterra Minerals is a diversified minerals exploration company with a focus on precious and critical (copper and zinc) metals within the Central Newfoundland Mining District. Canterra's projects in the district include seven mineral deposits, including the prolific, past producing Buchans mine, which produced copper, zinc, lead, silver and gold. Canterra also owns a large land position that includes several exploration-stage gold projects covering 60 km of strike of the regional gold-bearing Rogerson Lake structural corridor that hosts Calibre Mining Corporation's development-stage Valentine Gold Mine. Canterra's Newfoundland gold projects have been subject to four drilling campaigns, demonstrating many gold occurrences warranting further exploration.

ON BEHALF OF THE BOARD OF CANTERRA MINERALS CORPORATION

Chris Pennimpede
President & CEO
Additional information about the Company is available at www.canterraminerals.com.
For further information, please contact: +1 (604) 687-6644
Email: info@canterraminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation, including statements with respect to the Plan being subject to the final acceptance of the TSX Venture Exchange and many gold occurrences on Canterra's Newfoundland gold projects warranting further exploration. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects.; the business and operations of the Company; unprecedented market and economic risks associated with current unprecedented market and economic circumstances, as well as those risks and uncertainties identified and reported in the Company's public filings under its SEDAR+ profile at www.sedarplus.ca. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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