Valterra Resource Corporation reported that a second stage of metallurgical analyses of a +20kg grab sample from the discovery trench at the +140 sq. km Bobcaygeon Graphite Property, located near Peterborough in Southern Ontario, returned the following highlights: 65.6% graphite reported to jumbo and large flake size fraction classifications Including 45.6% jumbo flake (+48 mesh or > 0.297mm); 99% carbon recovery into the flash and rougher concentrate which graded 65- 70% C(g) prior to any upgrading via cleaning circuit. Valterra is proceeding with the next stage of metallurgical test work at SGS Lakefield. This will include a cleaner flotation circuit aimed at increasing the concentrate grade to +95% C(g). Also, enhanced optical
mineralogy work is proposed on sub-samples of the different concentrate size fractions to better assess individual flakes and needles of graphite. The sample, which was processed by SGS Lakefield, was comprised of float pieces from a shallow backhoe trench and returned a previously released high-grade assay of 34% C(g). Microscopic analyses of the sample provided by SGS Lakefield in an earlier report identified the graphite
as primarily flaky and platy particles with size ranges from 0.05mm to 3mm and visually much of the sample appears to be coarse in nature.

The company also announced that Jean-Pierre Colin has resigned as a director effective November 14, 2012.