# Canterra Minerals Expands Lundberg Indicated Mineral Resource by 55% to 26.1 Mt at the Buchans Project in Newfoundland Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2 Original source: https://orestocks.com/company/CTM.V/press-releases/4620757320250310 Publisher: orestocks Original announcement: 2026-10-06T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-06T11:24:28.734Z Atlas analysis updated: 2026-10-06T11:24:28.734Z - Company: Canterra Minerals - Ticker: CTM.V - Exchange: Unavailable - Region: Newfoundland - Primary commodity: Copper - Secondary commodities: Zinc, Lead, Silver, Gold - Document categories: Resource update - Extracted: 2026-10-06 11:24:29 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Canterra Minerals announced an updated Mineral Resource Estimate for its Lundberg Deposit, part of the Buchans Project in Newfoundland. The Indicated Mineral Resource increased by 55% to 26.1 million tonnes, with a 34% increase in contained copper equivalent to 226 thousand tonnes. While the resource shows significant growth and high confidence with 97% in the Indicated category, the average grade for Indicated resources declined by 13% for copper equivalent. Reasoning: Canterra Minerals announced a significant update to the Lundberg Mineral Resource, increasing Indicated tonnage by 55% and contained copper equivalent by 34%, providing a strong foundation for future development. However, this growth was accompanied by a 13% decline in average Indicated CuEq grade. - Positive factor: Significant increase in Indicated tonnage \(+55%\) - Positive factor: Substantial growth in Indicated contained copper equivalent \(+34%\) - Positive factor: High confidence with 97% of tonnage in the Indicated category - Positive factor: Resource is pit-constrained, indicating reasonable prospects for economic extraction - Positive factor: QP/CP signed off on the estimate and it is NI 43-101 compliant - Positive factor: Detailed disclosure of cut-off grade and metal equivalent assumptions - Negative factor: Average grade for Indicated resources declined by 13-14% across all metals and CuEq - Negative factor: Growth is dilutive, with tonnage increasing more than contained metal due to lower grades Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 10 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Indicated tonnage increased by 55% from 16.8 Mt to 26.1 Mt. Evidence · text > 55% increase in Indicated tonnage.The Lundberg Deposit now hosts 26.1 million tonnes \(Mt\) in the Indicated category, compared with 16.8 Mt in the 2019 estimate **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Indicated contained copper equivalent increased by 34% from 168.5 kt to 226.2 kt. Evidence · text > 34% increase in Indicated contained copper equivalent \(“CuEq”\).226 thousand tonnes \(kt\) of CuEq, including 95 kt of copper, 342 kt of zinc and 146 kt of lead, together with 4.2 million ounces of silver and 51,000 ounces of gold contained in the Indicated category. **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: 97% of the Mineral Resource tonnage is now in the Indicated category, indicating high confidence. Evidence · text > 97% of Mineral Resource tonnage is in the Indicated category. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Matthew Harrington, P.Geo., and Paul Moore, MSc., P.Geo. are named as Qualified Persons responsible for the MRE and technical information. Evidence · text > Matthew Harrington, P.Geo., of Mercator, is an independent Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects \(“NI 43-101”\) and is responsible for the technical disclosure regarding the 2026 MRE contained in this news release. Paul Moore, MSc., P.Geo. \(NL\), Vice President of Exploration, is the Qualified Person for the Company and has reviewed and approved the other scientific and technical information in this news release. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate is stated to be consistent with CIM Definition Standards and NI 43-101. Evidence · text > The classification of the current Mineral Resource Estimate into Indicated and Inferred is consistent with the Canadian Institute of Mining, Metallurgy, and Petroleum \(“CIM”\) Definition Standards for Mineral Resources and Mineral Reserves, May 10, 2014 \(“CIM Definition Standards”\). **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The NSR cut-off grade of US$20.40/t is clearly stated. Evidence · text > Mineral Resources are reported at a cut-off of US$20.40/t NSR within the optimized pit shell **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an updated Mineral Resource Estimate for the Lundberg Deposit. Evidence · text > Canterra Minerals Expands Lundberg Indicated Mineral Resource by 55% to 26.1 Mt at the Buchans Project in Newfoundland **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: The Indicated CuEq grade declined by 13% from 1.00% to 0.87%. Evidence · table > −13 Context: 1.00 **Dilutive Growth** Polarity: negative Definition: Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion. Why it applies: Tonnage increased by 55% while contained metal increased by 34%, indicating a lower average grade for the additional material. Evidence · text > 55% increase in Indicated tonnage. ... 34% increase in Indicated contained copper equivalent \(“CuEq”\). ## Extracted facts Stored fact records: 10. Some facts used in scoring do not have a stored record. ## Resource Estimates (10) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-0) Buchans Project · copper #### Identity - Project: Buchans Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:2b729e90df18e5dfcc74 - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 26080000 - Grade: 0.36 - Grade Unit: % - Contained Metal: 94.8 - Contained Unit: kt - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 16790000 - Prior Grade: 0.42 - Prior Contained Metal: 70.5 #### Metal Equivalent - Metal Eq. Grade: 0.87 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Indicated copper contained metal increased significantly, but the average grade decreased. - Positive factor: Significant increase in contained metal \(+34%\) - Positive factor: High confidence category \(Indicated\) - Negative factor: Grade declined by 14% Evidence · table > 0.36 Context: 26.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 26080000 against 16790000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.36 against 0.42 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 94.8 against 70.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-1) Buchans Project · zinc #### Identity - Project: Buchans Project - Commodity: zinc - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:2b729e90df18e5dfcc74 - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 26080000 - Grade: 1.31 - Grade Unit: % - Contained Metal: 341.6 - Contained Unit: kt - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 16790000 - Prior Grade: 1.53 - Prior Contained Metal: 256.9 #### Metal Equivalent - Metal Eq. Grade: 0.87 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Indicated zinc contained metal increased significantly, but the average grade decreased. - Positive factor: Significant increase in contained metal \(+33%\) - Positive factor: High confidence category \(Indicated\) - Negative factor: Grade declined by 14% Evidence · table > 1.31 Context: 26.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 26080000 against 16790000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 1.31 against 1.53 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 341.6 against 256.9 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-2) Buchans Project · lead #### Identity - Project: Buchans Project - Commodity: lead - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:2b729e90df18e5dfcc74 - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 26080000 - Grade: 0.56 - Grade Unit: % - Contained Metal: 146.2 - Contained Unit: kt - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 16790000 - Prior Grade: 0.64 - Prior Contained Metal: 107.5 #### Metal Equivalent - Metal Eq. Grade: 0.87 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Indicated lead contained metal increased significantly, but the average grade decreased. - Positive factor: Significant increase in contained metal \(+36%\) - Positive factor: High confidence category \(Indicated\) - Negative factor: Grade declined by 13% Evidence · table > 0.56 Context: 26.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 26080000 against 16790000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.56 against 0.64 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 146.2 against 107.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-3) Buchans Project · silver #### Identity - Project: Buchans Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:2b729e90df18e5dfcc74 - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 26080000 - Grade: 5.02 - Grade Unit: g/t - Contained Metal: 4.21 - Contained Unit: moz - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 16790000 - Prior Grade: 5.69 - Prior Contained Metal: 3.07 #### Metal Equivalent - Metal Eq. Grade: 0.87 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Indicated silver contained metal increased significantly, but the average grade decreased. - Positive factor: Significant increase in contained metal \(+37%\) - Positive factor: High confidence category \(Indicated\) - Negative factor: Grade declined by 12% Evidence · table > 5.02 Context: 26.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 26080000 against 16790000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 5.02 against 5.69 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 4.21 against 3.07 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-4) Buchans Project · gold #### Identity - Project: Buchans Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:2b729e90df18e5dfcc74 - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 26080000 - Grade: 0.06 - Grade Unit: g/t - Contained Metal: 51.4 - Contained Unit: koz - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 16790000 - Prior Grade: 0.07 - Prior Contained Metal: 37.8 #### Metal Equivalent - Metal Eq. Grade: 0.87 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Indicated gold contained metal increased significantly, but the average grade decreased. - Positive factor: Significant increase in contained metal \(+36%\) - Positive factor: High confidence category \(Indicated\) - Negative factor: Grade declined by 14% Evidence · table > 0.06 Context: 26.08 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 26080000 against 16790000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.06 against 0.07 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 51.4 against 37.8 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-5) Buchans Project · copper #### Identity - Project: Buchans Project - Commodity: copper - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:8287849112a1ec50439a - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 870000 - Grade: 0.48 - Grade Unit: % - Contained Metal: 4.2 - Contained Unit: kt - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 380000 - Prior Grade: 0.36 - Prior Contained Metal: 1.4 #### Metal Equivalent - Metal Eq. Grade: 1.54 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Inferred copper contained metal and grade increased significantly, providing exploration upside. - Positive factor: Significant increase in contained metal \(+200%\) - Positive factor: Grade increased by 33% - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 0.48 Context: 0.87 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 870000 against 380000 previously **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: 0.48 against 0.36 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 4.2 against 1.4 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-6) Buchans Project · zinc #### Identity - Project: Buchans Project - Commodity: zinc - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:8287849112a1ec50439a - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 870000 - Grade: 2.21 - Grade Unit: % - Contained Metal: 19.2 - Contained Unit: kt - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 380000 - Prior Grade: 2.03 - Prior Contained Metal: 7.7 #### Metal Equivalent - Metal Eq. Grade: 1.54 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Inferred zinc contained metal and grade increased significantly, providing exploration upside. - Positive factor: Significant increase in contained metal \(+149%\) - Positive factor: Grade increased by 9% - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 2.21 Context: 0.87 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 870000 against 380000 previously **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: 2.21 against 2.03 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 19.2 against 7.7 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-7) Buchans Project · lead #### Identity - Project: Buchans Project - Commodity: lead - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:8287849112a1ec50439a - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 870000 - Grade: 1.13 - Grade Unit: % - Contained Metal: 9.9 - Contained Unit: kt - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 380000 - Prior Grade: 1.01 - Prior Contained Metal: 3.9 #### Metal Equivalent - Metal Eq. Grade: 1.54 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Inferred lead contained metal and grade increased significantly, providing exploration upside. - Positive factor: Significant increase in contained metal \(+154%\) - Positive factor: Grade increased by 12% - Negative factor: Lower confidence category \(Inferred\) Evidence · table > 1.13 Context: 0.87 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 870000 against 380000 previously **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: 1.13 against 1.01 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 9.9 against 3.9 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-8) Buchans Project · silver #### Identity - Project: Buchans Project - Commodity: silver - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:8287849112a1ec50439a - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 870000 - Grade: 20.87 - Grade Unit: g/t - Contained Metal: 0.58 - Contained Unit: moz - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 380000 - Prior Grade: 22.35 - Prior Contained Metal: 0.27 #### Metal Equivalent - Metal Eq. Grade: 1.54 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Inferred silver contained metal increased significantly, but the average grade decreased slightly. - Positive factor: Significant increase in contained metal \(+115%\) - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Grade declined by 7% Evidence · table > 20.87 Context: 0.87 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 870000 against 380000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 20.87 against 22.35 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 0.58 against 0.27 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/canterra-minerals-expands-lundberg-indicated-mineral-resource-by-55-to-26-1-mt-a--3fabfe98-5f71-4d8b-9246-c4d3b59f3df2#fact-resource-facts-9) Buchans Project · gold #### Identity - Project: Buchans Project - Commodity: gold - Region: canada\_nl - Reported Region: Newfoundland - Ticker: CTM.V #### Resource scope - Estimate type: resource - Effective date: 2026-09-02T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Matthew Harrington, P.Geo., Paul Moore, MSc., P.Geo. - Resource group id: resource:8287849112a1ec50439a - Deposit or zone: Lundberg Deposit - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 870000 - Grade: 0.28 - Grade Unit: g/t - Contained Metal: 7.8 - Contained Unit: koz - Cutoff Grade: 20.4 - Cutoff Unit: US$/t NSR #### Prior Estimate - Resource Date: 2026-09-02 - Prior Tonnes: 380000 - Prior Grade: 0.31 - Prior Contained Metal: 3.8 #### Metal Equivalent - Metal Eq. Grade: 1.54 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Lab - Laboratory: SGS Canada and Eastern Analytical Ltd. #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-06T00:00:00.000Z Reasoning: Inferred gold contained metal increased significantly, but the average grade decreased slightly. - Positive factor: Significant increase in contained metal \(+105%\) - Negative factor: Lower confidence category \(Inferred\) - Negative factor: Grade declined by 10% Evidence · table > 0.28 Context: 0.87 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: 870000 against 380000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.28 against 0.31 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 7.8 against 3.8 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.