(Source: MARKETWIRE)Quaterra Resources Inc. (TSX VENTURE: QTA)(NYSE Amex: QMM) (the "Company") today announced that it has completed its offering (the "Offering") originally announced on September 30, 2009 and updated on October 8, 2009, and has sold 5,603,204 Units at CDN $0.60 per Unit (together with 72,000 Units for finders' fees incurred in making the Offering) for gross proceeds of $3,361,922.40. 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 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 March 1, 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.

The NYSE Amex staff has also informed the Company that it has resolved certain of the NYSE Amex listing deficiencies reported via news release on May 21, 2009. However, the Company will need to demonstrate conformance with continued listing standards for two consecutive quarters before November 18, 2010.

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 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 and precious metal deposits. The Company's preference is to acquire a 100% interest in properties on reasonable terms and maintain this interest through initial exploration and evaluation.

On behalf of the Board of Directors,

Scott Hean, Chief Financial Officer, Quaterra Resources Inc.

Statements contained in this news release that are not historical facts are forward-looking statements as the term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results.