Minterra Resource Corp. (the "Company")(TSX VENTURE: MTR) is pleased to announced that it has entered into an agreement with Bolder Investment Partners, Ltd., for a "best efforts" private placement of up to 14,000,000 units at a price of 25 cents per unit for gross proceeds to the Company of $3.5-million. Each unit shall consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.30 for 24 months from the closing date.

The Company will use the net proceeds from the placement to complete further drilling at the Elder Creek (Cortez trend) and Eden (West Nevada Rift) gold projects in Nevada, to continue exploration at the Golden Snow and Agate Pass gold projects, in the Cortez Trend of Nevada, as well as for general corporate purposes.

In connection with the placement, Minterra will pay a commission of 8.0 per cent in cash, or at the Agent's election up to half may be paid in Units, on the number of units sold by the Agent in the placement and will issue "broker warrants" to the Agent, entitling them to purchase at a price of 30 cents per share, for 24 months from the closing date, a maximum number of additional common shares equal to 10.0 per cent of the number of shares sold by the Agent in the placement.

The placement will be effected pursuant to prospectus exemptions under applicable securities legislation. The placement is subject to receipt of all necessary corporate and regulatory approvals, including the acceptance of the TSX Venture Exchange, and to the signing of an Agency Agreement. The shares and warrants issued in the placement will be subject to a four-month "hold period" under applicable securities legislation.

There are currently 31,937,195 common shares of the Company issued and outstanding.