Quaterra Resources Inc. (TSX VENTURE:QTA)(NYSE MKT:QMM) today announced that
further to Quaterra's news release of October 4, 2012, Freeport-McMoRan Mineral
Properties Inc. (FMMP) has paid the Company US$1 million based on the
acquisition of certain designated properties near Butte Valley, Nevada. 


"We are pleased in these challenging market times to receive a US$1,000,000 cash
payment, with no dilution, that will be used to continue work on the Company's
district-scale, 100%-owned Yerington copper project as well as general and
administrative purposes. Quaterra retains upside through its right, if FMMP
completes a positive feasibility study, to elect to acquire either a 30% working
interest in the project or a 2% NSR royalty," said Tom Patton, President and CEO
of Quaterra.


Butte Valley is a large, partially explored porphyry copper system located in
eastern Nevada about 40 miles north of Ely in north-central White Pine County. 


The Company will continue to focus on monetizing non-core assets and making
other positive changes to increase the efficiency of its operations.


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. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


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