John Greenslade, President of Minterra Resource Corp. (the "Company"), is pleased to advise that, subject to TSX Venture Exchange (the "Exchange") approval, it is proceeding with a private placement of 8,000,000 Units at a price of $0.25 per Unit for gross proceeds of $2,000,000. Each Unit will consist of one share and one half of a share purchase warrant, one full warrant will permit the holder to purchase a further share for a period of 2 years from issuance at a price of $0.30 per share. The Company has agreed to pay a finders fee to Sandstone Ventures Corp. (Sandstone) of 8% of the gross proceeds, up to one-half of the finders fee may be paid in shares of the Company at a deemed price of $0.25 per share. Sandstone is arms-length to the Company.

Proceeds of the placement will be utilised to fund the acquisition and initial exploration costs of the eleven projects in the Carlin and Cortez trends of Nevada acquired under option agreements with Golden Patriot, Corp. and Mill City Gold Corp. (See News Releases dated July 27, 2004 and September 7, 2004).

ON BEHALF OF THE BOARD OF DIRECTORS OF

MINTERRA RESOURCE CORP.

"JOHN W. GREENSLADE"

JOHN W. GREENSLADE, PRESIDENT

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 responsibity for the adequacy or accuracy of this release.