| February 1, 2006
Golden Snow Project Acquired
Trading Symbol: MTR New Acquisition
John Greenslade, President of Minterra Resource Corp. (the "Company"), is pleased to advise that it has acquired a further project in the Cortez Trend, Nevada.
Golden Snow Project Acquired - Immediately adjacent to Stacatto Gold's South Eureka Property
The Company has agreed to acquire a 100% interest in the Golden Snow Project from Scoonover Exploration LLC., a Nevada company. The Golden Snow project is comprised of 99 claims on the Battle Mountain - Eureka Trend and is contiguous to the southern end of South Eureka Project held by Staccato Gold Resources Ltd. TSX-V symbol "CAT"). The project is also located approximately 8 miles south of the East Archimedes gold deposit (formerly the Archimedes Mine operated by Homestake) where Barrick Gold Corporation is currently developing an open pit gold mine.
The Eureka district is at the south end of a northerly trending series of intrusives. Within the district a prominent north-south alignment of gold deposits trends on to the Golden Snow Project (see attached map). Recently announced high-grade intercepts by Staccato on the adjacent ground appear to be along a strong fault zone. Published mapping shows this fault as a district scale structure that projects into the Golden Snow area.
The Company will acquire the Golden Snow project under a 10 year lease-option agreement by paying an initial $15,000 advance royalty payment which escalates to $30,000 at year 5, issuing Scoonover 200,000 shares in the capital of the Company, and paying all claim staking and filing costs. The claims are subject to a 3% NSR with a buy down provision. Scoonover is a Nevada corporation controlled by E.L. (Buster) Hunsaker. Hunsaker is arms-length to the Company however the Company does retain Hunsaker to provide geological consulting services to the Company in Nevada.
Possible Joint Ventures
The Company is currently discussing possible option-joint venture arrangements with third parties on certain of its Nevada projects in order to increase its annual exploration budget and to expedite review of the projects. No agreements have yet been finalized however in any such agreements the Company would expect to retain operatorship and exploration control of the projects.
Eden Drill results available shortly
The Company has now completed 4 reverse circulation drill holes on the Eden project, located near Winnemuca, Nevada, and expects to provide results later this week.
Company drops Gold View
The Company has now completed a review of drill results previously announced for the Gold View project, located in the Cortez Trend, in the context of previous geological, geophysical and geochemical surveys and has advised the Optionor that it is withdrawing from such project. The Company will complete required surface reclamation of the property when weather permits.
John W. Greenslade, P.Eng., a Qualified Person has reviewed the technical disclosure contained herein and accepts responsibility for such disclosure.
About Minterra
Minterra is a gold exploration company based in Vancouver, British Columbia. It is focused on gold exploration in the Great Basin of Nevada and currently has 14 projects in the Cortez and Carlin Trends of Nevada, as well as the West Nevada Rift.
ON BEHALF OF THE BOARD OF DIRECTORS OF MINTERRA RESOURCE CORP.
"JOHN W. GREENSLADE"
JOHN W. GREENSLADE, PRESIDENT
For further information please contact John Greenslade, President, at (604) 687-6690 Investor Relations: Denby Greenslade (604) 687-6690.
The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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