CTM Canterra Minerals Corp

NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION INTO THE USA

Canterra Minerals Corporation (TSX VENTURE:CTM) (the "Company") Further to the
news release dated May 21, 2014, the Company is pleased to announce that it has
closed its non-brokered private placement for total gross proceeds of $2 Million
from the sale of 16,214,285 units (the "Units") at a price of $0.07 per Unit and
8,650,000 common shares issued as "flow-through" shares for the purposes of the
Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.10 per
Flow-Through Share. The Units and Flow-Through Shares are collectively referred
to herein as the "Offering". 


Each Unit consists of one common share one-half of one non-transferable common
share purchase warrant. Each full Warrant entitles the holder to purchase one
additional common share until July 29, 2016 at a price of $0.10. In the event
that, at any time after the expiry of the four month hold period, the Company's
common shares trade at a closing price on the TSX Venture Exchange is greater
than $0.20 per share during any twenty consecutive trading-day period the
Company may accelerate the Warrant Expiry Date by giving notice to the holders
thereof and in such case the Warrants will expire on the 21st business day after
the date on which such notice is given to the holders by the Company.


The Company paid finders' fees totaling $18,741 representing 6% of a portion of
the gross proceeds raised and issued aggregate finders warrants of 258,729
representing 6% of a portion of the Offering sold. Each of the finders' warrants
are exercisable until July 29, 2015, at a price of $0.10 per share.


The proceeds from the private placement will be used by the Company for property
acquisition, general corporate purposes, and general exploration expenditures
which will constitute qualified Canadian exploration expenditures.


Subject to Exchange acceptance and as a result of his subscription to the
Offering, Mr. Jim Pattison acquired 14,000,000 common shares, representing
18.72% of the total issued and outstanding common shares of the Company. Mr.
Pattison has the right to acquire an additional 3,000,000 common shares if all
Warrants are fully exercised resulting in an ownership of 16.84% of the total
issued and outstanding common shares. 


The securities issued in connection with the Offering are subject to a standard
four month hold period expiring on November 30, 2014. 


CANTERRA MINERALS CORPORATION

Randy Turner, President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canterra Minerals Corporation
Randy Turner
President
604-687-6644

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