Valterra Announces Private Placements

1100-1199 West Hastings Street, Vancouver, British Columbia, V6E 3T5

“A Manex Resource Group Company”

November 17, 2010 VTA-CNSX 3VA-Frankfurt NR-09-10

Valterra Announces Private Placements

Valterra Resource Corporation (“Valterra”) reported today that it plans to issue up to 50,750,000 units in two non-brokered private placements for total gross proceeds of $2,537,500.

Valterra plans to issue up to 15,000,000 units in a flow-through private placement at a price of $0.05 per unit (“Flow-Through Unit”) to raise $750,000, and to issue up to 35,750,000 units in a non-flow-through private placement at a price of $0.05 per unit (“NFT Unit”) to raise $1,787,500. Each Flow-Through Unit will consist of one flow-through common share and one-half share purchase warrant, with each whole warrant (a “Warrant”) exercisable to purchase one additional non-flow-through common share at an exercise price of $0.10 per share for a period of two years. Each NFT Unit will consist of one non-flowthrough common share and one Warrant.

Valterra expects to close a first tranche of the private placements this week. Proceeds from the private placements will be used to fund planned drill programs on Valterra’s mineral exploration projects in south eastern British Columbia and for working capital. Finder’s fees may be payable. The private placements and finder’s fees are subject to regulatory approval.

On behalf of the Board of Directors,

“Lawrence Page”

Lawrence Page, Director Valterra Resource Corporation

For further information, please visit Valterra’s website at valterraresource.com or contact Liana Shahinian at 1-888-456-1112 / 604-641-2773 or by email at [email protected].

The Canadian National Stock Exchange (CNSX) 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.