CTM Canterra Minerals Corp

Canterra Minerals Corporation (TSX VENTURE:CTM) ("Canterra") announced today
that is has executed a Memorandum of Understanding with Bravada Gold Corporation
(TSX VENTURE:BTA) ("Bravada") whereby Canterra may earn up to a 70 percent
interest in Bravada's Highland and East Manhattan gold/silver projects, located
respectively in western and central Nevada. Both projects are located along the
eastern edge of the Walker Lane structural zone in southwestern Nevada which is
host to several multi-million ounce gold deposits such as Round Mountain,
Paradise Peak and Rawhide.


Canterra may earn a 51 percent interest in the Highland project by making cash
payments of US$30,000, issuing 1,250,000 common shares in five annual tranches
of 250,000 shares each commencing on regulatory acceptance of the transaction
and incurring aggregate exploration expenditures of US$2 million over the four
years following regulatory acceptance. Canterra may increase its interest to 70
percent within two years of earning its 51% interest by making a further cash
payment of US$100,000, issuing a further 500,000 common shares and incurring an
additional US$4 million in exploration expenditures. The terms for Canterra
earning its 51 percent interest in the East Manhattan project are identical to
the Highland terms, except that the cash payments on signing of the Memorandum
of Understanding will be US$25,000 and further cash payments of US$30,000,
US$35,000, US$40,000 and US$45,000 will be required on or before the first,
second, third and fourth anniversaries of regulatory acceptance, respectively.
The terms for Canterra to increase its interest in the East Manhattan project
are identical to the terms for increasing the Highlands interest to 70 percent.


Initially, and as long as mutually acceptable, Bravada will be project operator.
Each property is subject to a 3% NSR in favour of the underlying vendors of the
properties. The 3% NSR on each property may be bought down to 2% upon payment of
the sum of US$1 million to the underlying vendors of that property.


Highland Project - The Highland low-sulfidation-type project consists of 66
Federal lode claims for a total of approximately 530 hectares and is located in
the Walker Lane Gold trend. Previous drilling by Bravada's US subsidiary
intersected vein zones with locally high-grade intercepts; the best hole,
H02013, intersected 1.5 meters (m) of 66.9 grams of gold per ton (g/t) and
397.7g/t silver within a 12.2 m intercept of 9.5g/t gold and 109.4g/t silver,
with true thicknesses estimated at 65% of interval. A thin layer of alluvial
gravel covers much of the property and various geophysical methods have been
employed to identify other targets, which to date, have not been drill tested.
Detailed ground magnetics, four lines of IP, and one line of AMT have been
conducted at Highland. Exploration plans include a detailed soil survey over the
main target area early in the spring, followed by a drill programme during the
second quarter.


East Manhattan Project - The East Manhattan low-sulfidation-type project
consists of 84 Federal lode claims for a total of approximately 680 hectares and
is located at the eastern edge of the Manhattan Mining district, approximately
19 kilometres southeast of the giant low-sulfidation Round Mountain Gold mine
complex. Bravada's US subsidiary conducted two drilling campaigns at the
project, primarily along two of several mapped zones of auriferous veins.
Shallow gold mineralization has been intersected along the primary vein zone for
425 m of strike length. The best drill hole, EM08-010, intersected an estimated
true thickness of 11.25 m of 2.9 g/t Au at 91.4 m depth followed by 11.25 m of
0.81 g/t Au at 118.9 m depth. The vein zone projects along strike for another
approximately 870 m to the east under thin gravel cover, which will be the
primary target for a drill program anticipated for early summer, after
additional geophysical surveys are conducted.


Walter Melnyk, P.Eng and Vice-President of Exploration, has reviewed and
approved the content of this news release.


CANTERRA MINERALS CORPORATION

Randy Turner, President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT: 
Canterra Minerals Corporation
Randy Turner
President
604-687-6644
604-687-1448 (FAX)

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