Mineral Explorer Finds Extensive Copper Mineralization in Newfoundland
Research Report

1. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

For additional disclosures, please click here.

Disclosures for Atrium Research, Magna Terra Minerals Inc., November 18, 2025

Analyst Certification Each authoring analyst of Atrium Research on this report certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated securities discussed (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in the research, (iii) to the best of the authoring analyst’s knowledge, she/he is not in receipt of material non-public information about the issuer, (iv) the analyst does not own common shares, options, or warrants in the company under coverage, (v) the analysts adhere to the CFA Institute guidelines for analyst independence, and (vi) this report belongs to the CFA Institute. Atrium Research Ratings System BUY: The stock is expected to generate returns of over 20% over the next 24 months. HOLD: The stock is expected to generate returns of 0-20% over the next 24 months. SELL: The stock is expected to generate negative returns over the next 24 months. NOT RATED (N/R): Atrium does not provide research coverage on the respective company. RATING COVERED COMPANIES BUY 34 HOLD 0 SELL 0 About Atrium Research Atrium Research provides institutional quality company sponsored research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, and an in-depth valuation analysis. For further information on our team, please visit https://www.atriumresearch.ca/team. General Information Atrium Research Corporation (ARC) has created and distributed this report. This report is a general discussion of the merits and risks of a security or securities only, was prepared for general circulation, is not in any way meant to be tailored to the needs and circumstances of any recipient and does not provide investment recommendations specific to individual investors. As such, the securities discussed in this report may not be suitable for all investors and investors must make their own investment decisions based upon their specific investment objectives and financial situation, utilizing their own financial advisors as they deem necessary. This report is based on information we considered reliable; we have not been provided with any material non-public information by the company (or companies) discussed in this report. We do not represent that this report is accurate or complete and it should not be relied upon as such; further any information in this report is subject to change without any formal or type of notice provided. Investors should consider this report as only one factor in their investment decisions; this report is not intended as a replacement for investor’s independent judgment. ARC is not a CIRO registered dealer and does not offer investment-banking services to its clients. ARC (and its employees) do not own, trade or have a beneficial interest in the securities of the companies we provide research services for and does not serve as an officer or Director of the companies discussed in this report. ARC does not make a market in any securities. This report is not disseminated in connection with any distribution of securities and is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. ARC does not make any warranties, expressed or implied, as to the results to be obtained from using this information and makes no express of implied warranties for particular use. Anyone using this report assumes full responsibility for whatever results they obtain. This report does not constitute a personal recommendation or take into account any financial or investment objectives, portfolio holdings, strategy, financial situations or needs of individuals. This report has not been prepared for any particular individual or institution. As such, any advice or recommendation in this report may not be suitable for a particular recipient. ARC assumes recipients of this report are capable of evaluating the information contained herein and of exercising independent judgment. A recipient of this report should not make any investment decision without first considering whether any advice or recommendation in this report is suitable for the recipient based on the recipient’s particular circumstances and, if appropriate or otherwise needed, seeking professional advice, including tax advice. ARC does not perform any suitability or other analysis to check whether an investment decision made by the recipient based on this report is consistent with a recipient’s investment objectives, portfolio holdings, strategy, financial situation, or needs. Past performance is not an indication or guarantee of future results, future returns are not guaranteed, and loss of original capital may occur. By providing this report, ARC does not accept any authority, discretion, or control over the management of the recipient’s assets. Any action taken by the recipient of this report, based on the information in the report, is at the recipient’s sole judgment and risk. The recipient must perform his or her own independent review of any prospective investment. Neither ARC nor any person employed by ARC accepts any liability whatsoever for any direct or indirect loss resulting from any use of its research or the information it contains.

This report contains "forward-looking" statements. Forward-looking statements regarding the Company and/or stock’s performance inherently involve risks and uncertainties that could cause actual results to differ from such forward-looking statements. Such statements involve a number of risks and uncertainties such as competition, market demand, and the company’s (and management’s) ability to correctly forecast financial estimates. As a result, the actual results, events, performance or achievements of the financial product may be materially different from those expressed or implied in such statements. Please see the Company’s MD&A “Risk Factors” Section for a more complete discussion of company specific risks for the company discussed in this report. Any opinion or estimate constitutes the preparer's best judgment as of the date of preparation, and is subject to change without notice. ARC assumes no obligation to maintain or update this report based on subsequent information and events. ARC is receiving a cash compensation from Magna Terra Minerals Inc. for 12-months of research coverage. This report was disseminated on behalf of Magna Terra Minerals Inc. ARC retains full editorial control over its research content. ARC does not have investment banking relationships and does not expect to receive any investment banking driven income. ARC reports are primarily disseminated electronically and, in some cases, printed form. Electronic reports are simultaneously available to all recipients in any form. This report or any portion hereof may not be copied, reprinted, sold, or redistributed or disclosed by the recipient or any third party, by content scraping or extraction, automated processing, or any other form or means, without the prior written consent of ARC. Any unauthorized use is prohibited. Neither ARC nor any of its respective directors, officers or employees is responsible for guaranteeing the financial success of any investment, or accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of this report or its contents. To receive future reports on covered companies please visit https://www.atriumresearch.ca/research or subscribe on our website. This report has been prepared independently of any issuer of securities mentioned herein and not as agent of any issuer of securities. No ARC personnel have authority whatsoever to make any representations or warranty on behalf of the Company. Any comments or statements made herein are those of ARC. The information contained herein is not, and under no circumstances is to be construed as, an offer to sell securities described herein, or solicitation of an offer to buy securities described herein, in Canada or any province or territory thereof. Any offer or sale of the securities described herein in Canada will be made only under an exemption from the requirements to file a prospectus with the relevant Canadian securities regulators, if applicable, and only by a dealer properly registered under applicable securities laws or, alternatively, pursuant to an exemption from the dealer registration requirement in the relevant province or territory of Canada in which such offer or sale is made. The information contained herein is under no circumstances to be construed as investment advice in any province or territory of Canada and is not tailored to the needs of the recipient. To the extent that the information contained herein references securities of an issuer incorporated, formed or created under the laws of Canada or a province or territory of Canada, any trades in such securities must be conducted through a dealer registered in Canada. No securities commission or similar regulatory authority in Canada has reviewed or in any way passed judgment upon this research report, the information contained herein or the merits of the securities described herein, and any representation to the contrary is an offence. The information contained in this report is intended to be viewed only in jurisdictions where it may be legally viewed and is not intended for use by any person or entity in any jurisdiction where such use would be contrary to local regulations or which would require any registration requirement within such jurisdiction.

On November 18, 2025, Atrium Research analysts Ben Pirie and Nicholas Cortellucci, CFA, maintained a Buy rating on Magna Terra Minerals Inc. (MTT:TSXV; BRIOF:OTCPK), with an unchanged target price of CA$0.30, representing 107% upside from the current share price at the time of the report of CA$0.15.

The rating follows new soil and rock geochemical results from the Hughes Lake Trend at the company's 100% owned Humber Copper Cobalt Project in western Newfoundland that extend the mineralized zone by an additional 1.7 kilometers.

Soil Sampling Program Results

Magna Terra Minerals Inc.  released results from a soil sampling program consisting of 837 samples at the Hughes Lake Trend. The program returned copper values ranging from less than 5 parts per million to 2,150 parts per million copper, with 46 samples representing 5.5% of the total grading greater than 500 parts per million copper. The grid was designed using 100-200 meter line spacing with 25 meter intervals between each sample.

The new dataset continues to outline the 2.2-kilometer mineralized corridor previously identified and indicates a potential 1.7-kilometer southwest extension, where elevated historic copper in soils aligns with a magnetic low. This would extend the possible strike length to 3.9 kilometers.

Rock Sampling Results and Mineralization

Rock sampling results from 57 grab samples returned copper grades between 5 parts per million and 5,452 parts per million copper, equivalent to 0.545%, with nearly 30% of samples, representing 17 of the 57 samples, grading greater than 500 parts per million copper.

Mineralization is hosted in dolomitized limestone containing visible chalcopyrite, bornite, and malachite. The spatial distribution of the samples continues to outline the 2.2-kilometer trend, with the soil and rock datasets further defining the surface footprint.

Expansion of Hughes Lake Mineralized Zone

The analysts noted that in their previous research note, they reported the expansion of the Hughes Lake mineralized zone to 2.2 kilometers based on the company's fall prospecting program.

The current soil and rock results build directly on that work by providing a larger geochemical dataset that confirms prospectivity across the corridor and outlines a target over 1.7 kilometers of strike to the southwest, bringing the total trend to more than 8 kilometers.

Analyst Commentary and Strategic Outlook

Pirie and Cortellucci stated: "Today's results add another incremental step forward at Humber, in which the systematic surface work continues to expand the scale and definition of copper mineralization along the Hughes Lake Trend."

The analysts emphasized that "the combination of strong soil responses and consistent rock sampling strengthens confidence in the established 2.2km corridor and highlights an additional 1.7km strike for follow-up." With the regional trend extending more than 8 kilometers, the analysts "see meaningful room for additional target development as this cost-effective exploration work continues through the rest of the year and into 2026."

The analysts also indicated they look forward to upcoming soil and stream sediment programs in conductive trends identified in the recently completed airborne survey, which could outline new copper targets beyond the main corridor.

Company Overview and Strategic Advantages

Magna Terra Minerals Inc. is a precious and critical metals-focused exploration company headquartered in Toronto, Canada. The company focuses on acquiring and advancing high-potential mineral projects in Atlantic Canada and Argentina while generating value for shareholders and minimizing shareholder dilution through option and joint venture partnerships.

The analysts highlighted several investment positives for the company. Magna Terra controls approximately 68,000 hectares across Newfoundland and New Brunswick through its Humber Copper-Cobalt and Rocky Brook projects, offering strong exposure to critical and precious metals in proven jurisdictions with significant discovery potential.

The company's project generation model has secured over CA$5.8 million in non-dilutive funding since 2019 and is expected to deliver an additional approximately CA$7.1 million through 2029 to fund core exploration initiatives. With seven projects in Argentina, Magna Terra is positioned to capitalize on the country's improving mining landscape and new pro-development policies.

The company maintains strict cost control and a sustainable, non-dilutive funding strategy that minimizes shareholder dilution while advancing key exploration assets. High insider ownership, led by mining investor Michael Gentile at approximately 17% alongside management at approximately 13%, ensures strong alignment with shareholders and long-term value creation.

Market Data and Financial Position

The company has 111.4 million fully diluted in-the-money shares outstanding, resulting in a market capitalization of CA$16.1 million at the current share price. Magna Terra reported cash of CA$2.7 million with no debt, resulting in an enterprise value of CA$13.5 million. Average daily trading volume is 122,800 shares.

Upcoming Catalysts

The analysts identified ongoing exploration programs at the Humber and Rocky Brook projects as key catalysts, along with ongoing cash and share payments from option agreements.