Third Drill Hole Results At Bear Copper Deposit

VANCOUVER - Quaterra Resources Incand its subsidiary Singatse Peak Services LLC (SPS) reported results from Hole B-050, the third core hole of a drill program to explore and further define the Bear deposit, a large porphyry copper system on the Company’s 52-square mile property in the historic Yerington Copper District of Nevada. The drill program is being funded with option payments to SPS by Freeport-McMoRan Nevada LLC (Freeport Nevada).

Hole B-050, drilled vertically to a depth of 3,838 feet, intercepted 521.9 feet of 0.36% copper beginning at a depth of 2,429.2 feet. Included within this interval is 279.3 feet of 0.44% copper starting at 2,491.4 feet. A 6.1 foot interval of massive pyrite-magnetite-chalcopyrite skarn starting at 2,330.5 feet averages 1.91% copper, 0.22 ppm gold and 5.7 ppm silver This hole extends the Bear mineralized system an additional 650 feet north of the nearest historic drill hole.

Hole B-050, collared 1,050 feet north-northeast of Hole B-048, is the third hole of an exploration program designed to corroborate historic assay results, determine geologic controls for higher grade mineralization and attempt to extend higher grade mineralization to the north. Copper mineralization starting at a depth of 2,429.2 feet occurs in typical porphyry copper-style, potassically altered quartz monzonite with small amounts of molybdenite. The thickness of the mineralized intercept is similar to those in adjacent historic drill holes.

The significance of the narrow zone of higher grade copper-gold-silver mineralization occurring above the main mineralized interval is unknown. The skarn is bracketed by quartz porphyry dikes and quartz veining and is part of a larger zone characterized by pyrite and magnetite veining, weakly anomalous gold and potassic alteration. All of these features are guides to mineralization elsewhere in the district.

Hole B-051, the fourth of the current drill program and located 1,150 feet east of Hole B-049, is in progress.

Core samples were either sawed or split by SPS personnel in Yerington, Nevada, and shipped to Bureau Veritas Minerals NA  Inspectorate America Corporation, an ISO certified assaying/geochemistry facility, in Reno, Nevada for sample preparation. Gold analyses are assayed in Bureau Veritas lab in Reno using their  FA430  procedure (fire assay with atomic absorption finish) with a 5 ppb Au detection limit. Prepared pulps are shipped to Bureau Veritas lab in Vancouver, B.C., Canada, for analysis using their MA 300 procedure for 35 elements ICP-ES analysis. Commercially prepared standards and blanks are inserted by SPS at 50-foot intervals to insure precision of results as a quality control measure. SPS has a chain of custody program to ensure sample security during all stages of sample collection, cutting, shipping, and storage.