Valterra Closes Second Tranche of Financing

Marketwired

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Valterra Resource Corporation ("Valterra") (TSX VENTURE:VQA)(3VA.F) announces that it has closed the second tranche of its financing today and, together with the first tranche closing on November 22, 2012 (see news release NR-14-12); Valterra has raised an aggregate $1,287,300.

In this second tranche closing, Valterra issued 410,000 flow-through shares at a price of $0.10 per share for gross proceeds of $41,000, and issued 612,500 Units at a price of $0.08 per Unit for gross proceeds of $49,000. Each Unit consists of one non-flow-through common share and one-half share purchase warrant, with each whole warrant exercisable to purchase one additional non-flow-through common share at an exercise price of $0.12 per share for a period of two years. All securities issued in this second tranche, including common shares, share purchase warrants, and finders' warrants issued as finders' fees, include a legend restricting trading of the securities until March 31, 2013. The financing and finders' fees relative thereto are subject to regulatory approval.

Proceeds from the private placement will be used to fund costs associated with exploration and development work and for working capital.

About Valterra Resource Corporation

Valterra is a Manex Resource Group Company. The group provides expertise in exploration, administration, and corporate development services for Valterra's mineral properties located in British Columbia and Ontario. Valterra is focussed on early stage properties with the potential to host large deposits, in regions with excellent infrastructure. Over the last several years, Valterra has acquired and explored several key projects including "Star-Toughnut", "Swift Katie" and "Bobcaygeon" which are located near roads, rail, power, and resource communities in Canada.

On behalf of the Board of Directors,

Frederick Sveinson, President, 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. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Valterra Resource Corporation's projects, and the availability of financing for Valterra Resource Corporation's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Valterra Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

Contact:
Valterra Resource Corporation
Liana Shahinian
1.888.456.1112 or 604.641.2773
liana@mnxltd.com
www.valterraresource.com

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