21 May 2014
Vancouver, B.C. - Canterra Minerals Corporation (CTM-TSX.V) ("Canterra") wishes to announce that it has arranged a non-brokered private placement of up to 14,285,714 units (the "Units") at a price of $0.07 per Unit and up to 10,000,000 common shares to be 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 for gross proceeds of up to $2,000,000. Each Unit will consist of one common share ("Common Share") of the Company and one-half of one common share purchase warrant (each whole warrant being a "Warrant") of the Company. Each Warrant will entitle the holder thereof to purchase one Common Share at $0.10 and will be exercisable for a period of 24 months after the closing date ("Warrant Expiry Date"), provided however, that in the event that the Common Shares trade at a closing price on the TSX Venture Exchange (the "TSXV") of greater than $0.20 per Common Share during any twenty consecutive trading-day period at any time after the expiry of the four month hold 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.