Valterra Resource Corporation

Valterra Resource Corporation

September 19, 2007 16:00 ET

Valterra Resource Corporation Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 19, 2007) - Valterra Resource Corporation announced today that the company has agreed to issue a total of 6.6 million common shares by way of non-brokered private placement to raise $1,811,500 in gross proceeds. The offering will consist of 3.23 million flow-through shares at a price of $0.30 per share and 3.37 million non flow-through shares at a price of $0.25 per share.

Net proceeds from this offering will be utilized for eligible Canadian exploration expenses incurred in an exploration program on the Swift Katie project, comprising of eight mineral tenure claim blocks, which total 5,415 hectares, located in the Nelson Mining Division near Salmo, British Columbia and for general working capital. Commissions and finders fees may be paid by the company with relation to this offering subject to regulatory approval.

The Swift Katie claims are within a highly metallogenic area of British Columbia that historically has hosted several important mining camps. The geology within the claims is very favourable to discovering and developing mineral deposits. An independent geological report recommends an exploration program in two stages at an estimated cost of $450,000 for Phase I. The Swift Katie Copper-Gold Property Technical Report dated July 23, 2007 by David K. Makepeace, B.Sc., M.Eng. P.Eng and Barry Price, M.Sc., P.Geo was prepared in compliance with National Instrument 43-101 and is available for viewing on SEDAR at www.sedar.com.

The company reserves the right to expend the flow-through funds in 2007 on any other eligible Canadian exploration property after assessment of results derived in the first phase of exploration on the Swift Katie claims.

The company has applied to list its shares on the Canadian Trading and Quotation System Inc. (the "CNQ"). On May 10, 2007 the CNQ granted the company conditional listing approval. The company's shares will be brought to trade under the symbol "VALT".

Rob Macdonald (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 and Director

Valterra Resource Corporation

Contact Information

  • Valterra Resource Corporation
    Lawrence Page, Q.C.
    President and Director
    (604) 684-9384
    (604) 688-4670 (FAX)