Communicators

Terra Ventures Inc.: 69.2 Metres of Uranium Mineralization in First Hole of Midwest NE Summer Drill Program

Vancouver, BC – July 8, 2008 -- Terra Ventures Inc. (TSX-V: TAS) ("Terra" or "the Company") is pleased to provide an update on the Midwest NorthEast Uranium property in which Terra owns a 10% production carried interest.

In a press release dated July 8, 2008, Hathor reported “Hathor Exploration Limited (HAT–TSX.V) announces that it has encountered basement-hosted uranium mineralization over a core length of 69.2 metres in drill hole MWNE-08-30, the first hole completed during the summer 2008 diamond drill program on Hathor’s 90%-owned Midwest NorthEast project.

Roughrider Zone mineralization was discovered on the Midwest NE property in February, 2008 (see Hathor news releases dated February 26, March 3 and 25, April 23 and 25, and May 22, 2008). Drill hole MWNE-08-30 was a 15 metre “step-out”, drilled at an azimuth of 308o and a dip of - 45o, which targeted the northeast strike extension of Roughrider Zone uranium mineralization. For a drill hole location map, please visit Hathor's website at www.hathor.ca .

The sub-Athabasca unconformity, in drill hole MWNE-08-30, was encountered at a core length of 302 metres, corresponding to a vertical depth of about 214 metres. The hole ended in fresh, unaltered, non-uranium-bearing granitic rocks at a drill core length of 419 metres.

Hathor measures natural gamma emission radiation in counts per second (cps) using a hand-held Exploranium GR-110G gamma ray scintillometer. Drill hole MWNE-08-30 intersected a 69.2 metre interval of elevated radioactivity, ranging from background (less than 200 cps) to greater than 9,999 cps (off-scale). Nineteen individual zones (ranging from 0.1 to 3.4 metres) of highly radioactive (5,000 cps to greater than 9,999 cps) mineralization were encountered within broader zones of elevated radioactivity (greater than 500 cps), of up to 20.7 metres.

Scintillometer results for the continuous 69.2 metre drill core interval from hole MWNE-08-30 are presented below. The reader is cautioned that: 1) all intersections are down-hole, core interval measurements and true thicknesses are yet to be determined; and, 2) scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. Hathor uses scintillometer readings as a reliable guide for its continuing drill program. For general comparisons of scintillometer cps readings vs. assay results, please review results posted in Hathor’s news releases concerning its winter drill program.

Drill core samples will be submitted for uranium, base and precious metal assay analyses by the Geoanalytical Laboratories of the Saskatchewan Research Council (SRC), having facilities operating in accordance with ISO/IEC 17025:2005 (CAN-P-4E) general requirements for the competence of mineral testing and calibration laboratories.

Hathor’s helicopter-supported summer drill program, which began on June 19th, is using the services of TEAM Drilling LP, an entity having ownership by the local Athabasca area communities of northern Saskatchewan. Helicopter services are provided by Highland Helicopters Ltd. of Richmond, B.C.

The summer project is based on Hathor’s new Roughrider Zone exploration model that shows the primary summer drill target is the location where the intersecting, basement-hosted uranium-bearing structures of its Roughrider Zone discovery meet the Athabasca unconformity. This target, centred approximately 90 m ENE from the uranium mineralization in discovery hole MWNE-08-12, is identified by coincident gravity and resistivity lows, and remains untested.

Terra Ventures owns a 10% carried interest in the Midwest NorthEast property.

With capital resources in excess of $25 million, Hathor continues to aggressively advance its portfolio of 11 Athabasca region uranium exploration projects. This area accounts for approximately 25 per cent of the world's annual mine production of uranium. All of this production comes from unconformity-style uranium ore deposits - the highest-grade uranium ore deposits in the world.

Benjamin Ainsworth, P.Eng., a director of the company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Midwest NE Project – Drill Hole MWNE-08-30 – Mineralized Interval Scintillometer Results

From To Interval* Maximum
(metres) (metres) (metres) CPS
332.2 332.3 0.1 1,000
332.3 332.8 0.5 400
332.8 333.6 0.8 600
333.6 333.8 0.2 1,400
333.8 334.2 0.4 700
334.2 335.0 0.8 4,000
335.0 335.2 0.2 300
335.2 335.4 0.2 1,100
335.4 335.7 0.3 500
335.7 336.4 0.7 >9,999
336.4 336.5 0.1 600
336.5 336.9 0.4 >9,999
336.9 337.0 0.1 3,000
337.0 337.5 0.5 4,000
337.5 337.7 0.2 >9,999
337.7 338.0 0.3 1,500
338.0 338.3 0.3 1,000
338.3 338.5 0.2 2,000
338.5 339.4 0.9 1,000
339.4 339.7 0.3 1,200
339.7 340.0 0.3 7,000
340.0 340.3 0.3 3,500
340.3 340.4 0.1 5,000
340.4 340.8 0.4 2,000
340.8 341.0 0.2 3,000
341.0 341.2 0.2 2,000
341.2 341.5 0.3 5,000
341.5 341.8 0.3 2,000
341.8 342.0 0.2 4,000
342.0 342.3 0.3 2,000
342.3 342.5 0.2 700
342.5 342.8 0.3 4,000
342.8 342.9 0.1 8,000
342.9 343.6 0.7 >9,999
343.6 343.8 0.2 4,000
343.8 344.3 0.5 500
344.3 344.7 0.4 >9,999
344.7 345.0 0.3 4,000
345.0 345.8 0.8 600
345.8 346.2 0.4 2,500
346.2 347.6 1.4 500
347.6 348.0 0.4 3,000
348.0 348.5 0.5 2,000
348.5 348.8 0.3 1,000
348.8 350.0 1.2 >9,999
350.0 350.4 0.4 3,000
350.4 350.7 0.3 1,000
350.7 350.8 0.1 4,000
350.8 351.0 0.2 2,000
351.0 351.1 0.1 5,000
351.1 351.4 0.3 >9,999
351.4 351.7 0.3 2,000
351.7 352.1 0.4 600
352.1 352.7 0.6 1,000
352.7 353.8 1.1 400
353.8 354.0 0.2 1,500
354.0 354.2 0.2 5,000
354.2 354.5 0.3 9,000
354.5 355.4 0.9 1,200
355.4 355.6 0.2 5,000
355.6 356.0 0.4 3,000
356.0 357.1 1.1 300
357.1 357.4 0.3 900
357.4 358.9 1.5 400
358.9 359.1 0.2 1,500
359.1 363.1 4.0 500
363.1 363.5 0.4 300
363.5 363.7 0.2 2,000
363.7 364.0 0.3 600
364.0 364.6 0.6 200
364.6 364.7 0.1 7,000
364.7 365.3 0.6 400
365.3 365.5 0.2 1,100
365.5 365.9 0.4 500
365.9 366.0 0.1 800
366.0 366.4 0.4 600
366.4 366.7 0.3 1,100
366.7 366.9 0.2 4,000
366.9 367.0 0.1 1,000
367.0 367.1 0.1 7,000
367.1 369.9 2.8 >9,999
369.9 370.2 0.3 5,000
370.2 370.4 0.2 >9,999
370.4 371.0 0.6 900
371.0 372.0 1.0 500
372.0 374.2 2.2 600
374.2 374.5 0.3 3,000
374.5 374.6 0.1 9,000
374.6 374.9 0.3 1,000
374.9 375.0 0.1 >9,999
375.0 375.3 0.3 2,000
375.3 375.5 0.2 800
375.5 375.8 0.3 1,500
375.8 377.0 1.2 800
377.0 379.7 2.7 500
379.7 380.3 0.6 900
380.3 386.0 5.7 500
386.0 387.0 1.0 300
387.0 387.3 0.3 1,000
387.3 388.3 1.0 700
388.3 388.6 0.3 1,100
388.6 389.0 0.4 2,100
389.0 389.5 0.5 800
389.5 390.0 0.5 400
390.0 390.7 0.7 500
390.7 391.2 0.5 400
391.2 391.3 0.1 900
391.3 394.7 3.4 600
394.7 395.6 0.9 500
395.6 395.9 0.3 1,400
395.9 396.0 0.1 8,000
396.0 396.4 0.4 > 9,999
396.4 396.8 0.4 1,500
396.8 396.9 0.1 3,200
396.9 397.0 0.1 1,700
397.0 397.6 0.6 > 9,999
397.6 397.9 0.3 5,000
397.9 398.3 0.4 > 9,999
398.3 399.5 1.2 1,200
399.5 399.8 0.3 6,000
399.8 399.9 0.1 > 9,999
399.9 400.3 0.4 6,000
400.3 400.5 0.2 > 9,999
400.5 400.6 0.1 7,000
400.6 400.8 0.2 4,000
400.8 401.4 0.6 600
Total 69.2 metres
* All intersections are down-hole, core interval measurements and true thicknesses are yet to be determined

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 Terra Ventures, please contact Gunther Roehlig, President, 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 Roehlig”


Gunther Roehlig, President

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

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “potential” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.