Mr. Rick Gittleman reports

INTERRA COPPER ANNOUNCES PRIVATE PLACEMENT FINANCING AND CREDIT FACILITY

Interra Copper Corp. intends to close a non-brokered private placement by issuing up to an aggregate of two million units at a price of 20 cents per unit for gross proceeds of up to $400,000.

Each unit consists of one common share in the capital of the company and one-half of one share purchase warrant, whereby each whole share purchase warrant shall be convertible into an additional share at an exercise price of 35 cents per warrant share. Each warrant shall expire on the date that is three years following the date of issuance. The expiry date is subject to acceleration in the event the volume-weighted average trading price of the company's common shares on the Canadian Securities Exchange is equal to or greater than 45 cents for a continuous 30-day period at any time after that date which is four months following the date of issuance, in which case the expiry date of the warrants shall automatically accelerate and the warrants will expire on that date which is 30 days after the date on which notice of such acceleration event is provided to the holder.

Proceeds from the private placement are intended for exploration activities and general working capital purposes. Closing of the private placement, subject to the receipt of all necessary regulatory and other approvals, is anticipated to occur in early March.

In addition, the company intends to enter into a revolving credit facility with a of up to $400,000. The terms of the facility are set out herein.

We seek Safe Harbor.