PanTerra Resource Corp. Announces Grant of Stock Options

TSX-V: PRC

CALGARY, July 23, 2012 /CNW/ - PanTerra Resource Corp. (TSX.V: PRC) ("PanTerra") announces that pursuant to the terms and conditions of its stock option plan and letters of surrender received by PanTerra from three of its directors and two of its officers, PanTerra has cancelled, in the aggregate, 185,000 incentive stock options to purchase Common Shares of PanTerra on July 18, 2012, and, in the aggregate, 450,000 incentive stock options to purchase Common Shares of PanTerra on July 23, 2012.

PanTerra also announces that pursuant to the terms and conditions of its stock option plan, it has granted, in the aggregate, 1,005,000 incentive stock options to purchase Common Shares of PanTerra (the "Options") to four of its directors, one of its officers and seven of its consultants. The Options are exercisable over a five year period at an exercise price of $0.10 per share and vest immediately.

Company information can be found at: www.panterraresource.com.

Neither the 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 release.

SOURCE: PanTerra Resource Corp.

Fred P. Rumak P.Geol.      
President and C.E.O.     
403-261-5900         
Email:  [email protected]  

Jake Pronk P. Geol
V.P. Exploration
403-261-5900 
Email:  [email protected]