PanTerra Resource Corp. - Renewal of Expired Options

TSX-V: PRC

CALGARY , Dec. 9 /CNW/ - PanTerra Resource Corp. (The "Company") wishes to announce that pursuant to the terms and conditions of its Stock Option Plan, it has granted, in the aggregate, 85,000 incentive stock options (the "Options") to replace those that have recently expired, to the officers, directors and employees of the Company. The options will be exercisable for a five year period at $0.24 per share.

PanTerra Resource Corp. is an Alberta-based oil and gas company currently producing approx 90 BOPD and 300 mcf / day of gas and is focused on the exploration and development of conventional and unconventional potential in Western Canada . The Corporation holds 'rights' in various properties in Western Canada . PanTerra trades on the TSX Venture Exchange under the symbol "PRC". Further information can be found at: www.panterraresource.com.

Neither 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 news release.

For further information: Fred P. Rumak P.Geol., President and C.E.O. at [phone], Email: [email protected]; or Herve B. Collet, V.P. Operations/C.O.O. at [phone], Email: [email protected]