X-Terra Resources Corporation

X-Terra Resources Corporation

June 02, 2008 09:00 ET

X-Terra Resources Applies For Shales License In Lowland Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 2, 2008) - X-Terra Resources Corporation (TSX VENTURE:XT) is very pleased to announce that the company has received a letter from the Ministry of Natural Resources to confirm the application permits for over 120,000 hectares made on behalf of X-Terra Resources have been received and will be processed in the coming days.

The land staked is in close proximity to Junex Resources and Intragaz Exploration near Shawinigan city and Squatex Resources in the Rimouski area in the heart of the Quebec Utica-Barnett-like shale natural gaz play.

Laurent Halle stated ; "The province of Quebec represents a vast territory where minerals and hydrocarbons potential are still largely underdeveloped. At this time, X-Terra has a diversified portfolio of exciting prospects. Management expects to be able to start up work programs shortly to explore the economic possibilities of these prospects."

The company is also granting to directors, officers and consultants incentive stock options entitling the purchase of up to 500,000 shares of the Company at a price of $0.30 per share for five years pursuant to the terms of the Company's rolling stock option plan that was approved at the June 14, 2007, annual general meeting.

About X-Terra Resources:

X-Terra is a resource company focused on acquiring and exploring energy properties in Canada. X-Terra Resources has only 6,776,671 shares outstanding.

Forward-looking Statements

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability of X-Terra to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks disclosed in filings with the Canadian securities regulators made by X-Terra. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • X-Terra Resources Corporation
    Laurent Halle
    President and CEO
    (819) 762-0609
    (819) 762-0097 (FAX)
    Email: info@terraxmanagement.com