Panterra grants incentive stock options; signs investor relations agreement



    PAN - TSXV

    CALGARY, Oct. 26 /CNW/ - PanTerra Resource Corp. (The "Company")
announces that pursuant to the terms and conditions of its 2007 Stock Option
Plan, it has granted, in the aggregate, 800,000 incentive stock options (the
"Options"), to certain Directors, Officers and Employees of the Company. The
Options will be exercisable over a three year period at $0.28 per share, with
33.3% vesting immediately, then 33.3% in one year, and the final 33.3% vesting
in two years.
    PanTerra is also pleased to announce, conditional on approval from the
TSX Venture Exchange, that it has entered into an independent contract with
Big Picture Geoscience Inc. ("Big Picture"), to provide investor relations
services for the Company. This contract may be renewed semi-annually.
    Big Picture is a Calgary-based investor relations firm run by Jim
Letourneau P.Geol. that provides corporate and investor relations services to
Canadian public companies. The services to be provided include increasing the
Company's visibility to current shareholders and to reach out to potential
shareholders via the introduction of the Company to money managers and
institutional fund managers.
    Pursuant to the agreement, Big Picture will receive a retainer fee of
$1,500 per month and the reimbursement of pre-approved expenses. These fees
will be paid out of the Company's general working capital. Additionally, Big
Picture will receive 150,000 incentive stock options. The Options will be
exercisable over a 12 month period at $0.28 per share, with 25% of the options
vesting every three months.

    PanTerra Resource Corp. is an Alberta-based resource company focused on
the exploration and development of unconventional shallow and shale gas in the
Province of Saskatchewan. The Company holds three Exploration Permits and four
licenses for a total of 1.1-million acres on four properties in Saskatchewan.
PanTerra trades on the TSX Venture Exchange under the symbol "PAN". Further
information can be found at www.panterraresource.com.

    The TSX Venture Exchange has not reviewed nor accepts responsibility for
    the adequacy or accuracy of the contents of this news release.





For further information:

For further information: Fred P. Rumak, P.Geol., President and C.E.O.,
at (403) 261-5900, Email: fred@panterraresource.com


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