CTM Canterra Minerals Corp

Canterra Minerals Corporation (TSX VENTURE:CTM) ("Canterra" or the "Company") is
pleased to announce that it has staked 43 new mineral claims covering more than
43,000 hectares ("ha") in the southern portion of the Slave Province, Northwest
Territories, as part of the Company's return to diamond exploration. 


Randy Turner, President and CEO states; "Through this staking initiative,
Canterra has increased its land holdings in an area that continues to deliver
significant diamond discoveries. Our team is focusing its attention on the
Southern Slave based on our vast diamond knowledge, and the systematic study of
our large proprietary dataset accumulated over a period of 15 years. Analysis of
this data with new advances in techniques and technology has re-ignited our
interest in diamond exploration and will be the Company's focus going forward."


The Slave Province, including the prolific Lac de Gras and Southern Slave areas,
has a proven history of diamond discovery and development. It is host to three
of Canada's four producing diamond mines, making Canada the world's 3rd largest
diamond producer on a value basis. The recent staking provides three new
properties to the Company's asset portfolio and expands two existing properties
which were maintained by the Company due to their considerable potential for the
discovery of new diamondiferous kimberlite bodies. Each of these properties host
indicator mineral trains which are composed of numerous G10 garnets, chromites
and ilmenites sourced from within the diamond stability field, and which are
potentially associated with diamond-bearing kimberlite sources.


For additional information and to view maps of the property portfolio please
visit the Company's website: www.canterraminerals.com.


King Property:

The Company acquired the King Property in 2000. Seven mineral claims have been
staked northeast of the existing mineral leases, increasing the property size to
approximately 13,500 ha. The King Property is located approx. 8 kilometres
("km") to the north of and contiguous to the Snap Lake Diamond Mine owned and
operated by De Beers Canada. The kimberlite body at Snap Lake is a 2.5 metre
thick dyke gently dipping (15 - 20 degrees) to the east-northeast with a
northwesterly strike. The northern extension of the Snap Lake kimberlite dyke
lies at depth within the King Property and has been defined by previous drilling
as well as a seismic survey.


Hilltop Property:

The Company acquired the Hilltop Property in 1999. Five mineral claims have been
staked in addition to the four mineral leases previously held, increasing the
property size to approximately 7,200 ha. A previously identified 7 km long
kimberlite indicator mineral train contains G10 garnets, chromites and
ilmenites, as well as numerous kimberlite fragments. Evaluation of airborne
geophysical data has identified 15 anomalies for future follow up. The Hilltop
Property is strategically located approx. 30 km southwest of the Snap Lake
Diamond Mine. 


Marlin Property:

The Marlin Property comprises 10 mineral claims covering an area of
approximately 10,450 ha and is located approx. 20 km northwest of the Gahcho Kue
Project, which is being advanced by De Beers Canada and Mountain Province
Diamonds Inc. The Marlin Property was staked based on the presence of anomalous
indicator minerals including G10 garnets and chromites which appear to have been
sourced from within the acquired claim block, as well as seven geophysical
anomalies identified from a previous airborne magnetic and electromagnetic
survey. 


Prism Property:

The Prism Property comprises 11 mineral claims covering approximately 11,500 ha
and is located approx. 35 km south of the Snap Lake Diamond Mine. The Prism
Property hosts two kimberlite indicator mineral trains that contain G10 garnets,
chromites and picro-ilmenites. Nine geophysical anomalies have been identified
from a previous airborne geophysical survey coincident with these mineral
trains.


Gwen Property:

The Gwen Property comprises 10 mineral claims covering an area of approximately
10,450 ha and is located approx. 30 km east and adjacent to two diamond-bearing
kimberlite pipes (CL-25 and CL-174) which were discovered by Winspear Resources
Ltd. in 1994-1995. 


The Company continues to evaluate other areas within the Southern Slave for
future land acquisition. 


When completed, the Company will be announcing the details of the exploration
programs currently being planned for these properties.


Walter Melnyk, P. Eng., Vice-President of Exploration for Canterra is the
Qualified Person, as defined by National Instrument 43-101 and has reviewed the
technical information in this news release.


Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canterra Minerals Corporation
Randy Turner
President & CEO
604-687-6644
rturner@canterraminerals.com


Canterra Minerals Corporation
Sophie Taylor
Corporate Communications
604-687-6644
604-687-1448 (FAX)
staylor@canterraminerals.com
www.canterraminerals.com

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