22 June 2016
Vancouver, BC - Canterra Minerals Corporation (CTM-TSX.V) ("Canterra" or "the Company") is pleased to announce that it has signed an Option Agreement with Mr. Michael Magrum ("Magrum") to acquire up to a 70% interest in the CL-25 Property (the "Property") located in the South Slave Region of the Northwest Territories ("NT").
The CL-25 Property consists of one claim (1,045.10 hectares) entirely surrounded by Canterra's Gwen Property. The Property contains two diamondiferous kimberlite pipes known as CL-25 and CL-174 discovered by Winspear Diamonds in 1994 and 1995 respectively. Historical data from Assessment Reports indicates that 212 diamonds (9 macros) were recovered from CL-25 and 340 diamonds (11 macros) were recovered from CL-174. Indicators from the adjacent Gwen Property suggest other potential kimberlite sources may be present. The Property is located approximately 260 kilometres ("km") northeast of Yellowknife, NT; approximately 30 km east of the Snap Lake Diamond Mine and 50 km west of the Gahcho Kué deposit being developed by Mountain Province Diamonds Inc. and De Beers Canada.