Quaterra Extends Option Agreements on Two Central Mexico Projects

Quaterra Resources Inc. (the Company) (TSX VENTURE:QTA) (NYSE MKT:QMM), today
announced the extension of option agreements covering two projects in central
Mexico. 


The two projects are located in the highly prospective Mexican silver belt.
Microondas is an epithermal gold-silver prospect in Zacatecas State, 30 miles
northwest of the Fresnillo silver mine, covering over 11,000 acres (about 17
square miles). Santo Domingo is a large copper - gold system in Durango State,
40 miles northeast of the Pitarilla silver property, situated within a 26,700
acre (41.7 square miles) claim block. 


The Optionor has agreed to accept 678,580 shares of Quaterra stock in lieu of
US$95,000 of cash option payments for the Microondas and Santo Domingo
properties, thereby extending the leases until June 1, 2014 and July 1, 2014
respectively. 


The issuance of shares is subject to regulatory approval from both exchanges.

About Quaterra Resources, Inc.

Quaterra Resources Inc. (NYSE MKT:QMM) (TSX VENTURE:QTA) is a junior exploration
and development company with a successful track record of making significant
mineral discoveries in North America. The Company's primary objective is the
advancement of its flagship projects in the Yerington copper district, Nevada.
The monetization of non-core assets is in progress to accelerate this effort.


On behalf of the Board of Directors,

Mr. Steven Dischler, President & CEO 

Should you wish to receive news releases by fax please provide your contact
details to Quaterra at 604-681-9059 (direct), 1-855-681-9059 (toll free) or
email [e-mail]. 


Disclosure notes:

This press release, required by applicable Canadian laws, does not constitute an
offer of the securities described herein. These securities offered have not been
and will not be registered under the United States Securities Act of 1933, as
amended, or any state securities laws, and may not be offered or sold in the
United States or to U.S. persons unless registered or exempt from registration
requirements. 


Some statements contained in this news release are forward-looking statements
within the safe harbor of the United States Private Securities Litigation Reform
Act of 1995. These statements generally are identified by words such as the
Company "believes", "expects", and similar language, or convey estimates and
statements that describe the Company's future plans, objectives or goals. Since
forward-looking statements are based on assumptions and address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Further information regarding risks and uncertainties which may
cause results to differ materially from those projected in forward-looking
statements, are included in filings by the Company with securities regulatory
authorities. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date thereof. The Company
does not undertake to update any forward-looking statement that may be made from
time to time except in accordance with applicable securities laws. References
may be made in this press release to historic mineral resource estimates. None
of these are NI 43-101 compliant and a qualified person has not done sufficient
work to classify these historic estimates as a current mineral resource. They
should not be relied upon and Quaterra does not treat them as current mineral
resources.


The TSX Venture Exchange and the NYSE MKT have not reviewed and do not accept
responsibility for the adequacy or accuracy of the contents of this news
release, which has been prepared by management.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Quaterra Resources Inc.
Mr. Steven Dischler
President & CEO
775-463-9600
[e-mail]