Valterra Resource Corporation

Valterra Resource Corporation

January 14, 2010 14:39 ET

Valterra's Rapid Expansion Continues With Acquisition of the Rozan Property, Southeast BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2010) - Valterra Resource Corporation (CNSX:VTA)(FRANKFURT:3VA) announced today that the company has entered into an exclusive option agreement to acquire a 100% interest) in the 1,950 hectare, gold-silver-lead-zinc Rozan Property located in south-eastern British Columbia.

The Rozan property consists of thirty-two mineral claims and is located approximately 12 kilometres due northwest of the historic mining town of Ymir BC. The property is well positioned with respect to infrastructure, access and services and is strategically located south of Valterra's Star and Toughnut properties. The company now controls over 3,890 hectares locally within a metallogenic region that elsewhere hosts several past producers and significant gold deposits nearby at Kena (1.0 million ounce 43-101 compliant resource(1) – Sultan Minerals Inc.) and Kenville (386,000 ounce 43-101 compliant resource(2) – Anglo Swiss Resources Inc.). Other active exploration projects in the region include the Ymir camp currently being explored by Duncastle Gold Corp. (DUN-V).

The main mineralized occurrences on the property - Golden Eagle, T.S., and Flying Dutchman - date to the late 1800s, and from 1928 to the 1970s William Rozan operated a small-scale hand-mining gold operation. Geochemical soil sampling undertaken in the late 1980s / early 1990s successfully identified a broad 1.0 km x 2.0 km area of anomalous gold. Beginning in 2000, Emgold Mining Corp. explored the property with soil sampling, prospecting-mapping-rock sampling studies, ground geophysics, DIGHEM airborne geophysics, and minor widely-spaced diamond drilling. Historical drill results include 1.45 g/t Au over 4.08 metres in hole RM00-001 and 60.73 g/t Au and 6.4 g/t Ag over 0.25 metres in hole RM00-002. Mineralization reportedly occurred as near surface sheeted/stockworked quartz zones hosted in a granodiorite unit.

The Rozan property geology is amenable to several polymetallic deposit styles including intrusion-related Au systems (vein-stockwork-brecciated-disseminated-skarn), shear-hosted hydro- to mesothermal Au-Ag-Pb-Zn or porphyry/ skarn Au-Cu-Mo-W. The claim area is underlain by Early Jurassic Elise and Archibald formation units assigned to the Rossland Group that consist largely of prospective submarine volcanic, volcaniclastic and sedimentary rocks. These rocks are intruded by Middle Jurassic feldspar porphyries of the Silver King Intrusive Suite and in turn by Middle to Late Jurassic granite-granodiorite-monzonite bodies mapped as Nelson Intrusions. These structurally controlled units are often deformed by the regionally prominent Silver King Shear Zone that is up to two kilometres wide and forms the core of the Hall Creek syncline.

To acquire the property, the company must, on an aggregate-basis, pay C$200,000, issue 350,000 Units consisting of common shares and Share Purchase Warrants exercisable on an annual basis to purchase Common Shares at a price per share based upon the trading price of Common Shares at the respective dates of annual issuance of Units, and incur C$1.0 million dollars of exploration expenditures over a five-year period. The property is subject to a 3% NSR of which 2% can be purchased initially by Emgold for C$1.0 million with Valterra having the right to participate in such purchase and acquire a 1% NSR for C$500,000 or C$750,000 if Valterra elects to extend the date of election to purchase its interest.

In December 2009, Valterra announced the results of a private placement lead by MineralFields Group that raised in excess of C$550,000, the proceeds of which will be used for funding 2010 exploration programs on the company's mineral projects (see NR-15-09).

To view the Rozan Property Southeast BC, Canada – Location, Claims and Terrain Map, please click on the following link:

2010 Exploration Proposal for Valterra in Southeast BC

- Drilling of the main Toughnut occurrence, where approximately 1,000 to 1,500 metres of diamond drilling is proposed. Historical drill results yielded values of 1.57 g/t Au and 1.26 g/t Ag over 24.66 metres in drill hole GWS-90-18

- Expansion of the Alma N zone and further delineation of near surface gold-silver +/- copper mineralization drill-intersected during the 2009 and 2008 exploration programs. Highlights from the 2009 program at the centrally located Alma N zone included 4.07 g/t Au & 1.57 g/t Ag over 47.64 metres in drill hole VST09-007. Valterra has currently outlined approximately 250 metres of mineralized strike length to the zone which remains under-explored and open for further expansion, and

- Further drilling and/or surface exploration is also anticipated within the 3.5 kilometre-long mineral belt targeting the Eureka, Star, Gold Eagle and Rozan zones that are defined historically by a combination of previous wide-spaced drilling, geochemical and geophysical surveys

About Valterra Resource Corporation

Valterra is a Manex Resource Group Company focused on exploration of mineral properties in the Kootenay Region of BC where it controls a total of approximately 10,995 hectares. The Star gold-silver-copper claims, located southwest of Nelson BC and the recently acquired Toughnut gold-silver-copper-lead-zinc claim block adjoins the company's Star claims ("Star Project"). This particular project area encompasses over 1,900 ha and the claims contain five structurally aligned gold zones within the regionally prominent and historically prolific Silver King Shear Zone.

One of the Star Property mines - the Eureka (ca. 1897) - reportedly produced minor amounts of ore averaging 2.13 g/t Au, 125.0 g/t Ag and 1.77% Cu(3). This mineralized belt currently measures approximately 3.5 kilometres in length, and trends largely in an en echelon fashion with respect to the former mines at Kenville and Silver King, and the advanced stage gold prospect at Kena.

Valterra also has an interest in the Swift Katie copper-gold porphyry/shear-hosted project near Salmo BC. In August 2009, the 7,064 ha property was the subject of a Mineral Property Working Option Agreement with Tosca Mining Corp. (formerly JRTL Capital Corp.). Valterra granted Tosca a five-year option to acquire a 60% interest (subject to a 3% net smelter return royalty over the Property in favour of the original property vendors). Tosca is required to make staged cash payments to Valterra in the amount C$155,000, issue a total of 500,000 shares, and incur exploration expenditures on the property aggregating C$3.0 million (see NR-12-09).

Since 2007, Valterra has aggressively explored and expanded its claim blocks within the gold-enriched "Rossland Volcanic Belt" by completing over 6,225 metres of diamond drilling, conducting 505 line-kilometres of heli-borne geophysics, undertaking a variety of mapping-prospecting-sampling programs, staking mineral claims, as well as acquiring new properties and joint venturing.

Brian McGrath, P.Geo., is the Qualified Person responsible for reviewing the technical results reported in this release.

On behalf of the Board of Directors,

Lawrence Page, Q.C., President, Director, Valterra Resource Corporation

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Valterra Resource Corporation relies upon litigation protection for forward looking statements.

(1) Resource information gathered from the Kena Property Technical Report dated June 3, 2004.

(2) Resource information gathered from the Kenville Gold Mine - 257 Level Technical Report dated July 22, 2009.

(3) Historical production/inventory statistics for the Eureka mine were obtained from public documents available from the BC Government Mineral Inventory File (MINFILE) database. The reporting standards used in this specific file were obtained prior to the establishment of NI43-101 regulations. Valterra Resource Corporation has not independently verified this historical data. Valterra Resource Corporation has no reason to believe that these results are not representative of mineralization associated with the underground mining activity.

The Canadian National Stock Exchange (CNSX) 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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