Valterra Closes Private Placement

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

“A Manex Resource Group Company”

May 5, 2011 VTA-CNSX 3VA-Frankfurt NR-06-11

Valterra Closes Private Placement

Valterra Resource Corporation (“Valterra”) has closed the final tranche of its previously announced private placement by issuing 3,180,000 units at a price of $0.05 per unit (“Unit”) for gross proceeds of $159,000. Each Unit consists 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. Together with previous tranche closings of this private placement, Valterra has raised an aggregate $1,903,889 by the issuance of 38,077,779 Units.

Proceeds from the private placement will be used to fund future drill programs on Valterra’s mineral exploration projects located in the Nelson Mining Division of south-eastern British Columbia and for working capital. The private placement and finders’ fees are subject to regulatory approval. Securities issued pursuant to this tranche of the private placement, including common shares, share purchase warrants, and finders’ warrants issued as finders’ fees, carry a legend restricting trading of the securities until September 5, 2011.

On behalf of the Board of Directors,

“Lawrence Page, Q.C.”

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

For further information, please visit Valterra’s website at valterraresource.com or contact Liana Shahinian at 1.888.456.1112 or 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.