Magna Terra Reclaims Boleadora Project from Newmont

Magna Terra Minerals Inc., through its subsidiary Atala Resources S.A., has regained control of the Boleadora Project from Newmont's subsidiary, Oroplata S.A. The project spans approximately 55,000 hectares in Santa Cruz Province, Argentina. Situated 17 kilometers from Newmont's Cerro Negro mine, Boleadora is part of the promising Margaritas-Boleadoras Corridor.

The termination of the Option to Purchase Agreement by Oroplata has returned the project to Magna Terra. Thanks to prior exploration by Newmont, a large zone potentially indicative of a low-sulphidation epithermal environment has been identified, highlighting the region's mineral prospects.

The recent lifting of currency controls in Argentina and rising gold prices have spurred significant interest in Magna Terra's exploration portfolio, particularly in the Santa Cruz region. The company remains focused on finding strategic partners to advance its projects.