Quaterra Completes Last Of Two Sales Of Water Rights In Yerington

VANCOUVER - Quaterra Resources Inc. reported that its wholly-owned subsidiary Singatse Peak Services LLC (SP) has closed the second of two sales of certain primary ground water rights associated with its copper property in Yerington, Nevada.

Prior, SPS announced it had entered into two separate purchase and sale agreements to sell certain primary ground water rights to Desert Pearl Farms, LLC and Desert Hills Dairy, LLC, two unrelated limited liability companies based in Yerington.

Following these transactions, SPS will retain approximately 6,000 acre-feet per year of primary ground water permitted for mining on its 51-square-mile Yerington property. The 2012 Preliminary Economic Assessment at MacArthur estimated water consumption of 2,590 acre-feet per year for a 41,000 ton a day oxide mine at the property's MacArthur deposit. Quaterra estimates that 3,100 acre-feet of water is required to mine and operate a 50,000 ton a day sulfide mine on the property.