PanTerra Company Update

    PAN - TSXV

    CALGARY, Sept. 3 /CNW/ - PanTerra Resource Corp. (The "Company") wishes
to announce that after several months of reservoir and engineering evaluations
it is preparing for its 2008 fall field program. The program will consist of
well completions, fracture stimulations, drilling, coring and geophysical work
utilizing flow-through funds raised earlier this year.

    PanTerra Resource Corp. is an Alberta-based resource company focused on
the exploration and development of unconventional shallow and shale gas and
its deeper rights potential in the Province of Saskatchewan. The Company holds
'all rights' in three Exploration Permits for a total of approximately
1.1 million acres in the Province of Saskatchewan. PanTerra trades on the
TSX Venture Exchange under the symbol "PAN". Further information can be found

    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:; or Herve B. Collet, V.P.
Operations/C.O.O. at (403) 261-5900, Email:

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