LOS ANGELES and ZIBO, China, Oct. 17 /PRNewswire-FirstCall/ -- Terra Nostra Resources Corporation (OTC:TNRO) (BULLETIN BOARD: TNRO) is pleased to announce that it has undertaken additional steps to increase its majority ownership in both Shandong Terra Nostra Jinpeng Metallurgical Co. Ltd. and Shandong Quanxin Stainless Steel Co. Ltd. from 51% to 90%. Terra Nostra is increasing its ownership in the two joint ventures under the framework of an Equity Transfer Agreement entered into with its Joint Venture partners in April 2007. The Company is moving forward with an independent valuation of the respective operations, which will form the basis for final negotiations between the parties. The transaction is expected to be completed not later than December 31, 2007. "Overall market conditions remain strong, with the joint venture operations continuing to ramp up production levels to meet customer demand, maximize manufacturing efficiencies, and deliver top and bottom line growth for shareholders", said Mr. Sun Liu James Po, Terra Nostra's CEO, "and we therefore believe this to be an opportune moment to work towards completing this transaction." About Terra Nostra Resources Corporation Terra Nostra is a leading copper and stainless steel producer in China through its 51% majority interests in two Joint Venture companies in China. Shandong Terra Nostra Jinpeng Metallurgical Co. Ltd. has an existing and under construction total production capacity of 170,000 MT of electrolytic copper and 20,000 MT of low-oxygen copper, together with value-added copper rod and wire capabilities. Shandong Quanxin Stainless Steel Co. Ltd. operates a modern stainless steel production facility with a 230,000 MT capacity casting mill, and a 150,000 MT rolling mill. The two joint venture companies, with total assets in excess of US$180 million and over 1,000 employees, are located in the highly industrialized coastal province of Shandong, midway between Beijing and Shanghai. More information on Terra Nostra can be found at http://www.tnr-corp.com/. Investor Contact: Mercantile Ascendency, Tom Collins, 214 559 9885 Forward Looking Statements Except for the historical information contained herein, the matters set forth in this press release, including statements with respect to expectations concerning (i) projects underway or under consideration, including production capacity and completion schedules; (ii) business and future potential of Terra Nostra Resources Corporation ("TNRO"); (iii) estimates or implications of future earnings, profits, EBITDA, and the sensitivity of earnings to metals prices; (iv) estimates of future metals production, sales and profitability; (v) estimates of future cash flows, and the sensitivity of cash flows to the other metals and ore costs as well as, but not limited to, fluctuations in fuel prices, scrap prices, and the availability of both, and statements related to these matters or which use words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology are all forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Further risks, uncertainties and other factors, which affect the forward- looking statements included herein, and could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements include, but are not limited to, completion of TNRO's capital contributions to the joint venture companies, working capital financing, metals price volatility, competition for projects, reserve acquisition costs, currency fluctuations, international economic uncertainty, sovereign risk, force majeure, changes in tax law or concession law, project scheduling delays, labor disputes, increased production costs and variances in ore grade, scrap grade or recovery rates from those assumed in production plans, political and operational risks in the countries in which TNR may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in TNRO's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the year ended May, 31, 2007. Copies of each filing may be obtained from TNRO or the SEC. Furthermore, metals operation, by their very nature, entail inherent cyclical, sectoral, and commodity risk and could expose an investor to the entire loss of all capital invested. TNRO does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. DATASOURCE: Terra Nostra Resources Corporation CONTACT: Mercantile Ascendency, Tom Collins, +1-214-559-9885 Web site: http://www.tnr-corp.com/

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