Uniterre Resources Ltd.

Uniterre Resources Ltd.

January 07, 2005 16:52 ET

Uniterre Sells Interest in Mineral Holdings


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: UNITERRE RESOURCES LTD.

TSX VENTURE SYMBOL: UNT

JANUARY 7, 2005 - 16:52 ET

Uniterre Sells Interest in Mineral Holdings

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 7, 2005) - Uniterre
Resources Ltd. (TSX VENTURE:UNT) announced today the sale by Patriot
Energy Company Limited, a wholly owned subsidiary of Uniterre, of oil
and gas interests in Saskatchewan to Athena Resources Ltd.

These interests, which included freehold and wells at Section
22-3-34-W1M, in the Carnduff Area, were sold for a price of $100,000.

"This sale follows our previously stated corporate strategy of divesting
mineral and oil and gas interests, in favour of investing in electrical
generation, particularly wind," said Michael Altman, President of
Uniterre Resources Ltd. "We feel strongly that a wind and renewables
focus will allow us to capitalize on a growing interest in these
sectors."

Uniterre Resources Ltd. is the whole owner of Nai Kun Wind Development
Inc., a wind development company developing a 700 MW wind farm in Hecate
Strait, British Columbia.

About Uniterre Resources Ltd. (www.uniterre.ca)

Uniterre Resources Ltd. has traded on the Vancouver Stock Exchange, and
now the Toronto Venture Exchange, since 1967. The current directors
include Michael H. Altman, Michael C Burns, Larry Blonde, Steve Sanders,
David Korbin and Lou Starck. Uniterre has historic interests in oil and
gas ventures in Alberta, Saskatchewan and Texas and is a major partner
in the development of Canada's largest wind farm, Nai Kun, located in
the Hecate Strait.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Uniterre Resources Ltd.
    Erin Airton
    (604) 808-6420
    Website: www.uniterre.ca