QTA Quaterra Resources Inc

Quaterra Resources Inc. (the "Company") (TSX VENTURE:QTA)(NYSE MKT:QMM) today
announced it has concluded an Amended Agreement with Goldcorp Inc. ("Goldcorp")
(TSX:G)(NYSE:GG) which amends certain terms of the Investment Framework
Agreement (IFA) dated January 29, 2010, the terms of which were outlined in the
Company's news release dated February 10, 2010.


"We are pleased to be continuing our exploration with Goldcorp in central
Mexico," says Quaterra President and CEO Thomas Patton. "We believe that with
Quaterra's exploration talents and Goldcorp's technical expertise and financial
commitment of $15.8 million to date and $1 million for 2013 we are well
positioned to discover and develop major deposits."


The Amended Agreement extends the expiration for designation of Advanced
Properties to January 2016 from January 2014 and also modifies certain earn-in
requirements after a property has been selected as an Advanced Property: 1)
Lowers spending requirement to earn a 2% NSR royalty to $1 million over first
three years (from $2 million over two years); 2) Lowers the minimum annual
expenditure requirement after three years to $250,000 thousand from $1 million;
3) allows Goldcorp to pool expenditures from other projects to one project to
meet the earn-in requirement described above.


Goldcorp can earn a 70% interest in any Advanced Property by completing a
feasibility study (increased from 65%). At the time a production decision is
made, the Company may either participate at 30% or ask Goldcorp to underwrite
loan guarantees in return for an additional 6% interest in the property.
Goldcorp has committed up to $1 million for 2013 exploration on properties in
central Mexico that fall under the IFA.


Details on properties and expenditures will be announced when available.

Quaterra Shareholders Approve AGM Resolutions

Quaterra also announces that all resolutions were passed by the requisite
majority at Quaterra's annual general meeting held in Vancouver, British
Columbia on June 12, 2013.


Election of Directors

The following incumbent directors were re-elected: Thomas C. Patton, Tracy
Stevenson, LeRoy Wilkes, Anthony Walsh, Lawrence Page, Q.C., John Kerr and Todd
Hilditch. With the exception of Thomas C. Patton and Lawrence Page Q.C., the
Company's directors are independent.


Appointment of Auditors

Smythe Ratcliffe, Chartered Accountants were re-appointed as auditors of the
Company for the ensuing year, and the directors were authorized to fix the
remuneration to be paid to the auditors.


Stock Option Plan

The Company's 2013 Stock Option Plan was approved and the number of stock
options to be granted under the 2013 Plan is a rolling 10% of the number of
outstanding issued common shares of the Company, from time to time, less the
number of outstanding stock options.


Shareholder Rights Plan

The Company also reported that the shareholders have approved a Shareholder
Right Plan at its annual general meeting. The Shareholder Rights Plan was
adopted to ensure the fair treatment of all Quaterra shareholders in the event
of an unsolicited take-over bid for the outstanding common shares of the
Company. In the event that a take-over bid should occur, the Shareholder Rights
Plan provides a mechanism to ensure that shareholders have adequate time to
properly evaluate and assess it without facing undue pressure or coercion. The
Shareholder Rights Plan also provides the board of directors with additional
time to consider any take-over bid and, if applicable, to explore alternative
transactions in order to maximize shareholder value. Accordingly, the
Shareholder Rights Plan is not designed to prevent take-over bids that treat
Quaterra's shareholders fairly. 


The Company's report of voting results will be filed on SEDAR at www.sedar.com
and on the Company's website.


NYSE MKT Notice

Quaterra also announced that it received notice on June 6, 2013 from the New
York Stock Exchange MKT (the "Exchange") citing non-compliance by the Company
with one of the continued listing standards as set forth in Part 10 of the NYSE
MKT Company Guide (the "Company Guide"). 


The notice is based on a review by the Exchange of information that the Company
has publicly disclosed, including information contained in the Company's Form
6-K filed May 10, 2013 which contained the condensed interim consolidated
financial statements for the three months ended March 31, 2013.


The Exchange advised that Quaterra Resources "is not in compliance with Section
1003(a)(iv) of the Company Guide in that it has sustained losses which are so
substantial in relation to its overall operations or its existing financial
resources, or its financial condition has become so impaired that it appears
questionable, in the opinion of the Exchange, as to whether the Company will be
able to continue operations and/or meet its obligations as they mature" and
additionally the Exchange advises that as a result of Quaterra's low selling
price, Quaterra's common stock may not be suitable for auction market trading. 


Their determination that the Company's financial condition has become impaired
is based in part on the fact that Quaterra had $462,547 in cash available for
general operations as of March 31, 2013 with an operating cash burn rate of
$229,559 per month for the three preceding months. In the Form 6-K, Quaterra
disclosed that without additional financing it may have to delay or cancel
further exploration of its properties and could potentially lose some of or all
of its interest in those properties. Presently, the Company does not have any
revenue generating mines and consequently no current cash flows from operating
activities. As the Company has historically obtained funding through the private
placement issuance of additional equity to maintain its ongoing exploration
programs and property commitments, there can be no assurance the Company will be
successful in similar efforts in the future. 


In order to maintain its listing, the Company must submit a plan of compliance
by July 8, 2013 (the "Plan") addressing how it intends to regain compliance with
Section 1003(a)(iv) of the Company Guide by September 6, 2013 (the "Plan
Period"). The Company is currently in the process of preparing the Plan for
submission to the Exchange which may contain a recommendation to shareholders to
consider a capital consolidation. 


The notice from the Exchange does not impact the Company's listing on the TSX
Venture Exchange ("TSX-V") and its common shares will continue to be listed and
traded on the TSX-V, subject to compliance with continued listing standards. 


Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE MKT:QMM) is a junior exploration
company focused on making significant mineral discoveries in North America. The
Company uses in-house expertise and its 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,

Dr. Thomas Patton, President and CEO, Quaterra Resources Inc.

Some statements contained in this news 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.


Expanded information on the Company's projects is described on our website at
www.quaterra.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Quaterra Resources Inc.
Lauren Stope
604-641-2746
info@quaterra.com
www.quaterra.com

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