PanTerra Resource Closes Private Placement

PanTerra Resource has closed a financing consisting of 292,500 units (the "Units") at a price of $0.20 per Unit and 220,000 common shares to be issued on a "flow-through" basis at a price of $0.25 per share (the "Flow-Through Shares") for total gross proceeds of $113,500 (the "Offering").

Each Unit consists of one (1) common share (a "Common Share") in the capital of the Corporation and one half of one (1/2) common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one Common Share of the Corporation at an exercise price of $0.40 for a period of twenty-four (24) months from the closing of the Offering. Upon the expiration of the mandatory hold period, in the event the common shares of the Corporation close for 30 consecutive days at a price of CDN $0.65 or above per common share, the Corporation shall have the right to require conversion of the Warrants at the exercise price therefor.

No commissions were paid in connection with the Offering and all securities issued under the Offering are subject to a statutory hold period until December 1, 2010.

The proceeds from the closing will be used by PanTerra to fund its ongoing operations in central Alberta.


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