Communicators

Terra announces Strategic Private Placement through Peninsula with Lundin-controlled Corporation as the Principal Investor

Vancouver, BC: Terra Ventures Inc. (TSX-V: TAS) is pleased to announce that it has on August 10, 2008 negotiated a strategic private placement of 7 million units @ $0.80 per unit to raise gross proceeds of $5,600,000. Each unit will consist of one share and one warrant to buy one share for $1.20 for two years from closing. The proceeds of the placement will be used for general corporate purposes, for continued exploration and development of the Company’s existing properties, and to finance any future property acquisitions that the Board of Directors of the Company deem appropriate.

Peninsula Merchant Syndications Corp., a private merchant bank controlled by Sam Magid, a former founding partner of Salman Partners, will receive a strategic advisory fee in respect of the financing of 318,000 units.

Of the 7 million units, 4 million will be purchased by a private corporation owned by a Trust whose settlor is the Estate of Adolf H Lundin.

Mr. James Hutton, the Chairman of the Board of Terra, commented: “This strategic investment in Terra by a world leader in mining investments is a strong validation of Terra’s uranium assets and business plan”.

The financing is subject to regulatory approval.

Terra Ventures is a junior exploration company focused on acquiring and developing quality uranium projects which have world class potential. The Company is dedicated to building shareholder value by acquiring strategic uranium properties in this period of strengthening global demand for uranium supply. The Company's combination of strategic land positions, advanced stage projects and no risk carried interest projects - combined with technical expertise and management's fundraising ability – are the foundation for growth in the uranium business.

For further particulars about the Company please contact Gunther Roehlig, Director, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.

On behalf of the board of directors of

TERRA VENTURES INC.

“Gunther Roelig”

Gunther Roelig,
President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

“NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.”