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News 2007

Valterra Grants Options and Elects New Director at AGM

October 9, 2007
Valterra Resources Inc. reported today that it has granted 1.5 million incentive stock options to directors, officers, employees and consultants, each exercisable at $0.25 per share and for a period of five years.

The granting of the stock options is subject to regulatory approval.

The company also reports that Mr. Don Head was elected to the Board of Directors at the companyís Annual General Meeting, held today. Mr.Head is a director of Global Entertainment (since 2000) and Vice Chairman of the Board since July, 2007. Until September 2006, Mr. Head was Chairman of the Board , President and CEO of Capital Title Group, Inc., a $380 million holding company with in excess of 2,500 employees which was acquired by merger by LandAmerica Financial Group, Inc. (NYSE:LFG) on September 8, 2006. Mr. Head co-founded Centurian Development and Investments, Inc., a custom designer and builder of residential homes and is also a partner in America West Capital One LLC, a residential real estate developer in Arizona. He is a graduate of Arizona State  University with a BA in Business and holds a law degree from the University of Arizona.

On Behalf of the Board of Directors

"Lawrence Page"

Lawrence Page, Q.C.
President and Director
Valterra Resource Corporation

For further information, please contact Jay Oness at 604-641-2771 or by email at

The CNQ Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. We seek safe harbor.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Valterra Resource Corporation relies upon litigation protection for forward looking statements.
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