Valterra Resource Corporation

Valterra Resource Corporation

October 09, 2007 19:00 ET

Valterra Grants Options and Elects New Director at AGM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 9, 2007) - Valterra Resources Corporation (CNQ:VALT)(FRANKFURT:3VA) reported today that following the Annual General Meeting the company appointed Directors, Mr. Lawrence Page, QC, President, Mr. Robert E. Swenarchuk, VP Corporate Development and Mr. Scott B. Hean, CFO. As well, Ms. Arie Page was appointed Corporate Secretary.

The company also reports that Mr. Donald R. Head was elected to the Board of Directors at the company's Annual General Meeting, held today. Mr.Head is a director of Global Entertainment (since 2000) and Vice Chairman of the Board since July, 2007. Until September 2006, Mr. Head was Chairman of the Board, President and CEO of Capital Title Group, Inc., a $380 million holding company with in excess of 2,500 employees which was acquired by merger by LandAmerica Financial Group, Inc. on September 8, 2006. Mr. Head co-founded Centurian Development and Investments, Inc., a custom designer and builder of residential homes and is also a partner in America West Capital One LLC, a residential real estate developer in Arizona. He is a graduate of Arizona State University with a BA in Business and holds a law degree from the University of Arizona.

The company has also contracted to begin an approximate 1,200 metre drill program on its Swift Katie property in November, 2007.

Valterra has granted 1.5 million incentive stock options to directors, officers, employees and consultants, each exercisable at $0.25 per share and for a period of five years as per the terms and conditions as set out in the company's stock option plan.

On Behalf of the Board of Directors

Lawrence Page, Q.C., President and Director

Valterra Resource Corporation

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