VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2012) - CaiTerra International Energy Corporation ("CaiTerra" or the "Company") (TSX VENTURE:CTI) is pleased to announce that it has completed its previously announced acquisition of certain undeveloped mineral rights in the Faust area of Alberta (the "Faust Property") from First Mountain Exploration Ltd. ("First Mountain") (TSX VENTURE:FMX) for the purchase price of approximately of $2.5 million in cash.

The Faust Property is located just north of the prolific Swan Hills oil field and south of the Town of Slave Lake. The lands forming the Faust Property are Crown leases with varying expiry dates. The Faust Property comprises approximately 18,600 net acres (approximately 30 sections) of lands of interest that are not subject to expiry for the next 3 years and a further 3,840 net acres (6 sections) of lands of interest that have been continued through to the end of April 2013.