PAN - TSXV CALGARY, Jan. 3 /CNW/ - PanTerra Resource Corp. (the "Company") announces that it has closed the second tranche of its previously announced brokered private placement with Wolverton Securities Ltd. of Calgary on December 30, 2005. The second tranche was comprised of 2,651,000 flow-through shares at a price of $0.25 per share and 426,000 common shares at a price of $0.22 per share, for aggregate gross proceeds of $756,470.00. The shares are subject to a four month hold period. This, along with the previously announced (December 15, 2005) first tranche which realized gross proceeds of $2,099,240 brings the total gross proceeds to $2,855,710 with a total of 10,571,000 flow-through shares issued at a price of $0.25 and 968,000 common shares issued at a price of $0.22. Wolverton Securities Ltd. as agent, received a cash commission of 8.0% and 8.0% Agent's Options exercisable into common shares of the Company at a price of $0.22 for a period of 12 months from closing. Wolverton also received a one time $10,000 corporate finance fee. The Company (as Operator) with its partner, Stealth Ventures Ltd. will commence a 25 to 40 well drilling program on its three major land holdings in the province of Saskatchewan. The drilling program will begin early in the new year. As a result of the second closing, Brickburn Asset Management (one of the first tranche placees), is still considered an 'insider' of the Company as defined in the applicable securities legislation. ON BEHALF OF THE BOARD Per: "Fred P. Rumak" Fred P. Rumak P.Geol. President and C.E.O. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of the contents of this news release.