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News 2007

Drilling underway at Swift-Katie; Additional Claims Added

November 30, 2007
Valterra Resource Corp. reported today that drilling has commenced on its Swift-Katie copper/gold porphyry property, located seven kilometres southwest of Salmo, in southeastern British Columbia. Up to 1,200 metres of drilling is planned to test a series of targets developed through the summer of 2007.

An independent geological report summarizing the historical exploration and technical merits of the project has been completed. 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 also reports that it has added six claims to both the northern and eastern margin of the property, bringing the total claims to 13 for an area of 7,064 hectares. The claims were added as a result of reconnaissance mapping on the property in October 2007.

The Swift-Katie claims are within a highly metallogenic area of British Columbia that historically has hosted several important mining districts including the Rossland gold-copper camp, located 50 kilometers to the southwest and the adjacent Ymir camp which is currently being explored by Dundee Mines Ltd. The property is underlain by rocks of the Rossland Group and is considered very favourable for the discovery of significant mineral deposits.

Historically, the property is described as an alkaline porphyry target. Bulk-tonnage grade, copper and gold mineralization is hosted primarily by andesitic volcanic breccias in spatial association with monzonite porphyry intrusions. Previous work includes numerous geological, geochemical and geophysical surveys and the drilling of 65 core holes for a total of 14,866 metres which resulted in the identification of several exploration targets, the most significant of which being the Katie, the 17 and the Swift zones. The planned drill program will test offsets of copper-gold mineralization in both the main Katie zone and the adjacent 17 Zone.

The company also reported that final contracts have been signed for an anticipated 500 line-kilometre Airborne DIGHEM EM / Magnetic survey over the property scheduled for December 2007. The survey is planned to cover the entire property and is designed to trace out major lithological variations and structural breaks associated with the mineralization.
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R.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."

Lawrence Page, Q.C., President, Director , Valterra Resource Corp.
 
For further information, please contact Jay Oness at either 1-888-456-1112 or 604-684-9384; email at corpdev@mnxltd.com.

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 Resources Corporation  relies upon litigation protection for forward looking statements.

 The TSX Venture Exchange/CNQ Exchange 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.
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.
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