QTA Quaterra Resources Inc

Quaterra Resources Inc. (the "Company") (TSX VENTURE:QTA)(NYSE MKT:QMM)(NYSE
Amex:QMM) today announced that its previously announced private placement was
increased (the "Offering") and has closed with the issuance of 6,541,571 units
(the "Units") for gross proceeds of US$2,289,550. 


Each Unit is comprised of one common share and one non-transferable common share
purchase warrant of the Company. Each share purchase warrant is exercisable to
purchase one additional common share at US$0.53 per share for a period of two
years from the closing of the Offering, expiring December 28, 2014, subject to
the following acceleration provision: if, at any time after four months from the
date of closing of the Offering, the five-day weighted average trading price of
the Company's common stock on the NYSE MKT exceeds US$1.00 (the last day of such
five-day period being the "Trigger Date"), the Company will, within seven days
of the Trigger Date (the "Notice Date") accelerate the expiry date of the
warrants by giving notice to the holders of the warrants that the expiry date of
the warrants has been accelerated to 30 days after the Notice Date.


All of the common shares and warrants issued pursuant to the Offering bear, and
any common shares issued upon exercise of warrants prior to April 29, 2013 will
bear, legends restricting the securities from trading for a period of four
months and one day from closing, expiring on April 29, 2013. Finders fees of
US$25,000 were paid in cash with regard to the sale of some of the Units. 


Proceeds of the Offering are intended to be used to fund the Company's
exploration and development programs at the Company's silver and gold projects
in Mexico and at the MacArthur and Yerington copper projects in Nevada, as well
as general and administration expenses.


Amended NI43-101 filed for Nieves preliminary economic assessment

Quaterra and its 50% joint-venture partner Blackberry Ventures I, LLC, have
filed on SEDAR an amended Canadian National Instrument 43-101-compliant
technical report for the preliminary economic assessment (PEA) of their Nieves
silver property in Zacatecas State, Mexico. 


The amended report was prepared by M3 Engineering & Technology of Tucson,
Arizona, and follows the announcement of the Nieves PEA in a news release on
September 19, 2012. The technical report includes a description of the project
resources, mine plan, capital costs, operating costs, metallurgy and financial
analysis. There are no material differences between the technical report filed
on November 2, 2012 and the amended report filed today. The change relates to a
decimal point error in figure 22-4 for lead and zinc values. Because lead and
zinc were not used in the model, there is no effect on project economics. In
addition, the estimated concentrate grade was clarified at the end of section
13.4. 


The Qualified Person for the updated Nieves project resource estimate in this
release is Jason Baker, P. Eng., of Caracle Creek International Consulting Inc.
(CCIC) of Toronto, Canada. Zsuzsanna Magyarosi Ph.D., P.Geo. (APGO#2031), also
of CCIC, is the Qualified Person responsible for the QA/QC evaluation. Doris M.
Fox M.Sc., P.Geo., also of CCIC, is the Qualified Person responsible for the
site visit and sampling procedures. The Qualified Person for the preliminary
economic assessment is Joshua Snider P.E. with M3 Engineering & Technology
Corp., Tucson, Arizona. The Qualified Person for the mining portion of the PEA
is Jeffery Choquette P.E. of Butte, Montana, and for metallurgy Thomas L.
Drielick P.E. of M3 Engineering & Technology Corp., Tucson, Arizona. The
complete NI43-101-compliant technical report is available at www.sedar.com and
on the company's website. 


Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE MKT:QMM)(NYSE Amex:QMM) is a
junior exploration company focused on making significant mineral discoveries in
North America. The Company uses in-house expertise and its extensive network of
consultants, prospectors and industry contacts to identify, acquire and evaluate
prospects in mining-friendly jurisdictions with the potential to host large
and/or high-grade base and precious metal deposits. 


On behalf of the Board of Directors, 

Thomas Patton, President and CEO, Quaterra Resources Inc. 

Scott Hean, Chief Financial Officer, Quaterra Resources Inc.

This press release, required by applicable Canadian laws, does not constitute an
offer of the securities described herein. These securities offered have not been
and will not be registered under the United States Securities Act of 1933, as
amended, or any State securities laws, and may not be offered or sold in the
United States or to U.S. persons unless registered or exempt therefrom.


Disclosure note 

The mining terms "indicated resource" and "inferred resource" are used in this
news release in accordance with Canadian regulations but are not recognized by
the United States Securities and Exchange Commission. For clarification, the
Company has no properties that contain "reserves" as defined by the SEC and is
providing the forgoing, in part, in order to meet its requirements under
National Instrument 43-101 adopted by the BC Securities Commission and the
Canadian Securities Administrators.


A PEA should not be considered to be a pre-feasibility or feasibility study, as
the economics and technical viability of the Project have not been demonstrated
at this time. A PEA is preliminary in nature and includes Inferred Mineral
Resources that are considered too geologically speculative at this time to have
the economic considerations applied to them to be categorized as Mineral
Reserves. Thus, there is no certainty that the production profile concluded in
the PEA will be realized. Actual results may vary, perhaps materially.


Some statements contained in this press release are forward-looking statements
within the safe harbor of the Private Securities Litigation Reform Act of 1995.
These statements generally are identified by words such as the Company
"believes", "expects", and similar language, or convey estimates and statements
that describe the Company's future plans, objectives or goals. Since
forward-looking statements are based on assumptions and address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Further information regarding risks and uncertainties which may
cause results to differ materially from those projected in forward-looking
statements, are included in filings by the Company with securities regulatory
authorities. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date thereof. The Company
does not undertake to update any forward-looking statement that may be made from
time to time except in accordance with applicable securities laws. References
may be made in this press release to historic mineral resource estimates. None
of these are NI 43-101 compliant and a qualified person has not done sufficient
work to classify these historic estimates as a current mineral resource. They
should not be relied upon and Quaterra does not treat them as current mineral
resources.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Quaterra Resources Inc.
Thomas Patton
President and CEO
604-641-2758


Quaterra Resources Inc.
Lauren Stope
Manager Communications
604-641-2746
www.quaterraresources.com

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