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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 24, 2009) -Valterra Resource Corporation(CNSX:VTA)(FRANKFURT:3VA) reported that the company has closed a first tranche of the two previously announced (December 14, 2009) non-brokered private placements for gross proceeds of C$583,000, including participation by MineralFields Group.

Flow-through Unit
Each "flow-through unit" issued in the first tranche was priced at $0.08 per flow-through unit and consisted of one flow-through common share and one-half of one share purchase warrant, with each whole warrant exercisable to purchase one additional non flow-through common share at an exercise price of $0.15 per share for a period of two years. The first tranche of this private placement consisted of 6,975,000 units for gross proceeds of $558,000.

Non Flow-Through Unit
Each "non flow-through unit" issued in the first tranche was priced at $0.08 per non flow-through unit and consisted of one common share and one share purchase warrant exercisable to purchase one additional common share at an exercise price of $0.10 per share for a period of two years. The first tranche of this private placement consisted of 312,500 units for gross proceeds of $25,000.

All securities issued pursuant to these two private placements, including common shares, share purchase warrants, finders' warrants and finders' options issued as finders' fees, carry a legend restricting trading of the securities until April 24, 2010. The private placements and any finders' fees may be subject to regulatory approval.

On behalf of the Board of Directors,

"Lawrence Page, Q.C."

Lawrence Page, Q.C., President, Director,
Valterra Resource Corporation

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.