(Source: MARKETWIRE)Quaterra Resources Inc. (TSX VENTURE: QTA)(NYSE Amex: QMM) (the "Company") today announced that it has completed its offering (the "Offering") for 9,666,206 Units at CDN $0.60 per Unit (together with 42,000 Units for finders' fees incurred in making the Offering) for gross proceeds of $5,774,523.60. Each Unit is comprised of one common equity share and one non-transferable full share warrant exercisable to purchase one additional common equity share at a price of CDN $0.75 for a period of two years subsequent to the closing of the Offering.

The Company originally announced the Offering as consisting of 10,000,000 Units. On September 10, 2009 the Company announced that it was completing, subject to receipt of final regulatory approval from the NYSE Amex, that portion of the Offering consisting of 8,235,643 Units. The NYSE Amex subsequently granted an exemption pursuant to Section 110 of the NYSE Amex Company Guide to allow the Offering to exceed 20% of the outstanding common shares of the Company, as described below. The Company then completed the Offering with respect to 9,666,206 Units, an increase of 1,430,563 Units from that announced on September 10, 2009. Additional subscription agreements were received but were not able to be processed by the Company due to time and regulatory constraints.

The Offering is subject to restrictions on trading in Canada for a period of four months from the date of issue of such securities up until January 29, 2010. In addition, in the United States, sales may only be affected outside the United States in accordance with Rule 904 of Regulation S and applicable State securities laws or affected in the United States in accordance with other exemptions from registration under U.S. securities laws and applicable State securities laws.

Proceeds of the Offering will be used to fund the Company's exploration programs at the Company's Nieves and Americas-Mirasol silver and gold projects in Mexico and at the MacArthur and Yerington copper projects in Nevada, as well as general and administration expenses.

Quaterra Resources Inc. (TSX VENTURE: QTA)(NYSE Amex: QMM) is a junior exploration company focused on making significant mineral discoveries in North America. The Company uses in-house expertise and its extensive network of consultants, prospectors and industry contacts to identify, acquire and evaluate prospects in mining-friendly jurisdictions with the potential to host large and/or high-grade base metal, precious metal or uranium deposits.