Terra Nostra Completes Funding of Copper Joint Venture

LOS ANGELES and ZIBO, China, Dec. 20  /PRNewswire-FirstCall/ -- Terra Nostra Resources Corporation (OTC:TNRO) (BULLETIN BOARD: TNRO)  a majority owner of two joint venture companies in the copper and stainless steel industries in China, today announces that it has achieved a major milestone by delivering the final payment towards its capital contribution for the copper joint venture.

Terra Nostra was required under the Shandong Terra Nostra-Jinpeng Metallurgical Co., Ltd. joint venture agreement to contribute a total of US$27.234 million. The Company is pleased to announce that a final payment of US$3 million was remitted on December 19, 2007, thereby completing the Company's capital contribution requirement in its entirety.

Management of Terra Nostra is presently in Zibo, China, to direct the final governmental registration of its equity interest and is working in close cooperation with its joint venture partner to implement 2008 operational strategies. Furthermore, negotiations towards consummating the acquisition of the additional 39% interest in both the copper and stainless steel joint ventures are actively underway, together with extensive coordination and review relative to the planned listing of the Copper Joint Venture on the Hong Kong Stock Exchange.

"This is a very significant event for our Company and represents a major milestone in our operations. We are now actively recruiting additional China based personnel to work with our joint venture partner to review past achievements and undertake a formal plan for the next phase of growth. Achieving this goal was also a crucial prerequisite for the spin off of our copper company and our Hong Kong Stock Exchange Listing. We are currently working in conjunction with our sponsor, a well rounded legal team and our anticipated Big 4 auditor to undertake the required tax and restructure planning for our listing in Hong Kong," Don Nicholson, President of Terra Nostra states.

About Terra Nostra Resources Corporation

Terra Nostra is a leading copper and stainless steel producer in China through its 51% majority interests in two joint venture companies in China. Shandong Terra Nostra Jinpeng Metallurgical Co., Ltd. has an existing and under construction total production capacity of 170,000 MT of electrolytic copper and 20,000 MT of low-oxygen copper, together with value-added copper rod and wire capabilities.  Shandong Quanxin Stainless Steel Co., Ltd. operates a modern stainless steel production facility with a 230,000 MT capacity casting mill, and a 150,000 MT rolling mill.  The two joint venture companies, with total assets in excess of US$180 million and over 1,000 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. Terra Nostra has entered into an agreement to increase its majority ownership in both joint ventures from 51% to 90%. More information on Terra Nostra can be found at http://www.tnr-corp.com/.

  Investor Contact: Mercantile Ascendency, Tom Collins, [phone]


  Forward Looking Statements


Except for the historical information contained herein, the matters set forth in this press release, including statements with respect to expectations concerning (i) projects underway or under consideration, including production capacity and completion schedules; (ii) business and future potential of Terra Nostra Resources Corporation ("TNRO"); (iii) estimates or implications of future earnings, profits, EBITDA, and the sensitivity of earnings to metals prices; (iv) estimates of future metals production, sales and profitability; (v) estimates of future cash flows, and the sensitivity of cash flows to the other metals and ore costs as well as, but not limited to, fluctuations in fuel prices, scrap prices, and the availability of both, and statements related to these matters or which use words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology are all forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Further risks, uncertainties and other factors, which affect the forward- looking statements included herein, and could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements include, but are not limited to, completion of TNRO's capital contributions to the joint venture companies, working capital financing, metals price volatility, competition for projects, reserve acquisition costs, currency fluctuations, international economic uncertainty, sovereign risk, force majeure, changes in tax law or concession law, project scheduling delays, labor disputes, increased production costs and variances in ore grade, scrap grade or recovery rates from those assumed in production plans, political and operational risks in the countries in which TNR may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in TNRO's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-QSB for the year ended August, 31, 2007. Copies of each filing may be obtained from TNRO or the SEC. Furthermore, metals operation, by their very nature, entail inherent cyclical, sectoral, and commodity risk and could expose an investor to the entire loss of all capital invested. TNRO does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. 

DATASOURCE: Terra Nostra Resources Corporation



CONTACT: Investor Contact: Mercantile Ascendency, Tom Collins,

[phone] 



Web site:  http://www.tnr-corp.com/ 

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