Terra Ventures Inc.

Terra Ventures Inc.

October 01, 2007 10:54 ET

Terra Ventures Inc.: Quebec Permit Received

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2007) - Terra Ventures Inc. (TSX VENTURE:TAS) is pleased to provide the following financial and property update to its shareholders:

Quebec Uranium Project

The Company is pleased to announce that it has received permitting to construct year round road access to its Lac Kachiwiss uranium property near Sept Isles, Quebec. Road construction has commenced with a plan of drilling as soon as feasible.

The Lac Kachiwiss uranium deposit consists of a body of complex, heterogeneous pegmatitic material with a strike length of 4,000 metres and a maximum exposed width of 800 metres. On the basis of the Getty Mines drilling, which tested about one-third of the exposed area of pegmatite, approximately 35 per cent of the body carries uranium values in excess of 0.1 pound of U3O8 per ton, and about 20 per cent carries values of 0.2 pound per ton or better. A non-43-101-compliant resource estimate of 18.3 million short tons grading 0.31 pound of U3O8 per short ton, in drill indicated and geologically inferred categories was prepared internally by Getty Mines in 1978. This resource estimate was restricted to the drilled area only, but included the statement that "potential for additional resources to the east and west of the main body, and at depth, is encouraging." The average depth of Getty's holes was 82 metres, and the deepest hole was 180 metres. The pegmatite body is open at depth, and remains untested by drilling outside the 700-by-700-metre area of the Getty drilling. Getty's reports consistently refer to the Lac Kachiwiss uranium-bearing zone as an "Rossing-type deposit". (See March 2, 2007 press release for the "Qualifying statement on historical resource estimate").


The Company has approximately $9,500,000 in its treasury at this time. All of these funds are in term deposits with the Bank of Montreal and are available at any time.

Utah Uranium Project

The Company has decided to investigate opportunities which will unlock further value in the Utah uranium project. These opportunities could include business arrangements which would create the critical mass necessary to achieve a potential mining operation.

The properties are located north of the Yellow Cat mining district in eastern Utah. Previous work by Hunt Oil mineral division, in 1980 and 1981, encountered widespread low-to-intermediate-grade uranium mineralization, mostly in stacked fluvial channel sandstones near the middle of the Brushy basin member of the Jurassic Morrison formation. Hunt Oil carried out an extensive drill program, which outlined a possible resource of 12.68 million tons of mineralized sandstone containing 5,785,333 pounds of uranium and 34,712,000 pounds of vanadium on one of the properties. The other properties contain drill intersections of uranium mineralization, which will require follow-up drilling. (See May 22, 2007 press release for the "Qualifying statement on historical resource estimate").

Saskatchewan Uranium Projects

The company continues to hold its carried interests in two Saskatchewan projects with significant potential for high grade unconformity type uranium deposits. In addition, the Company is evaluating results to date from its Carswell and Black Lake projects.

Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

On behalf of the board of directors of


Greig Hutton, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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