Canterra Minerals Corporation (TSX VENTURE:CTM) (the "Company") wishes to
announce that it has made application to the TSX Venture Exchange for the
issuance of 1,312,750 replacement options, at a price of $0.33 per share, to be
issued to insiders of the Company. Shareholders approved the cancellation of
current options held by insiders and the replacement of options on the same
terms and conditions as the original grants, at the Company's annual general
meeting held on December 9, 2010.


CANTERRA MINERALS CORPORATION

David B. Clarke, President & CEO
Canterra Minerals (TSXV:CTM)
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