CaiTerra International Energy Disposes of Undeveloped Mineral Rights in Faust Area of Alberta

CaiTerra International Energy Corporation ("CaiTerra" or the "Company") (TSX
VENTURE:CTI) is pleased to announce that, further to its press release dated
January 29, 2013, it has completed the disposition of 25% of its interests in
certain undeveloped mineral rights in the Faust area of Alberta (the "Faust
Property") to an arm's length Alberta private company (the "Purchaser"). 


The Faust Property was recently acquired by CaiTerra on December 14, 2012 for a
total cash payment of CDN$2,500,000 and is located just north of the prolific
Swan Hills oil field and west of Black Pearl Resources Inc.'s Mooney Pool
producing oil property and south of the Town of Slave Lake. The lands forming
the Faust Property are Crown leases with varying expiry dates. The Faust
Property comprises approximately 18,600 net acres (approximately 30 sections) of
lands of interest that are not subject to expiry for the next 3 years and a
further 3,840 net acres (6 sections) of lands of interest that have been
continued through to the end of April 2013. 


The disposition was completed in accordance with the terms of a definitive
purchase and sale agreement entered into with the Purchaser. At closing, the
Purchaser purchased 25% of CaiTerra's interest in and to the Faust Property in
consideration for a cash payment of CDN$1,000,000 (subject to adjustments). The
Purchaser has the option to purchase an additional 25% of CaiTerra's interest in
and to the Faust Property in consideration for an additional cash payment of
CDN$1,000,000 (the "Option"). The Option must be exercised by notice in writing
to CaiTerra on or before February 13, 2013 and the closing of the purchase and
sale of such additional 25% interest contemplated by the Option shall occur on
or before February 15, 2013. Further details regarding the terms of the
transaction are set out in the definitive purchase and sale agreement which will
be filed on CaiTerra's profile on SEDAR at www.sedar.com.


Cautionary Statements

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any of
the words "will", "expects", "believe", "plans", "potential" and similar
expressions are intended to identify forward-looking statements or information.
More particularly and without limitation, this press release contains forward
looking statements and information concerning the exercise of the Option, the
timing and the anticipated closing date of the Option, and the Company's
anticipated interests in the Faust Property. The Company cautions that there are
no assurances or guarantees that the transaction will be completed as proposed
or at all. 


Although the Company believes that the expectations and assumptions on which
such forward looking statements and information are based are reasonable, undue
reliance should not be placed on the forward-looking statements and information
because the Company can give no assurance that they will prove to be correct.


Since forward-looking statements and information address future events and
conditions, by their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a
number of factors and risks. These include, but are not limited to, the risks
associated with the oil and gas industry in general such as operational risks in
development, exploration and production; delays or changes in plans with respect
to exploration or development projects or capital expenditures; the uncertainty
of reserve and resource estimates; the uncertainty of estimates and projections
relating to reserves, resources, production, costs and expenses; health, safety
and environmental risks; commodity price and exchange rate fluctuations;
marketing and transportation; loss of markets; environmental risks; competition;
incorrect assessment of the value of acquisitions; failure to realize the
anticipated benefits of acquisitions; ability to access sufficient capital from
internal and external sources; changes in legislation, including but not limited
to tax laws, royalties and environmental regulations, actual production from the
acquired assets may be greater or less than estimates; failure to obtain the
necessary regulatory approval, stock exchange and other regulatory approvals on
the timelines planned. Management has included the above summary of assumptions
and risks related to forward looking information provided in this press release
in order to provide security holders with a more complete perspective on the
Company's future operations and such information may not be appropriate for
other purposes.


The forward-looking statements and information contained in this press release
are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or information, whether
as a result of new information, future events or otherwise, unless so required
by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CaiTerra International Energy Corporation
Craig Robson
Chief Executive Officer and Director
[phone]