Grant of Incentive Stock Options

NEWS RELEASE

October 28, 2010

Grant of Incentive Stock Options

Vancouver, B.C. – Canterra Minerals Corporation (CTM-TSX.V) (the "Company") wishes to announce the granting of incentive stock options to certain directors, officers and employees to purchase up to 250,000 common shares under the Company’s Incentive Stock Option Plan. The options will be granted for a period of five (5) years, commencing on October 28, 2010, exercisable at a price of $0.26 per share.

CANTERRA MINERALS CORPORATION

“David B. Clarke”

David B. Clarke, President

For further information, contact David Clarke, President at 604-687-6644 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

P.O. Box 11584, Suite 1410 - 650 West Georgia Street, Vancouver, British Columbia V6B 4N8 Telephone: 604-687-6644 Facsimile: 604-687-1448 E-Mail: [email protected]