Quaterra Resources Inc.

Quaterra Resources Inc.

June 05, 2006 13:19 ET

Quaterra Recieves $1.9 Million From Exercise of Warrants

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 5, 2006) - Quaterra Resources Inc. (TSX VENTURE:QTA) reported today that the acceleration of the Expiry Date of the Warrants from September 27, 2007 to May 29, 2006 (see news release dated April 28th,2006) has resulted in 3,814,281 warrants (100%) being exercised for total proceeds of $1,907,141 million to the company.

On behalf of the Board of Directors,

Thomas Patton, President, Quaterra Resources Inc.

Expanded information on the company's projects is described on our website at www.quaterraresources.com.

Statements contained in this news release that are not historical facts are forward-looking statements as the term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Quaterra relies upon litigation protection for forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.

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