MUTUAL FUND ROLLOVERS & REDEMPTIONS

Terra Mutual Funds are valued monthly. The price of a mutual fund share is calculated in Canadian dollars at 4:00pm on each Valuation Date. The "Valuation Date" means the last business day of any month on which the TSX is open for business. Redemptions are processed through your Dealer or directly through Terra, depending on where the LP units were held. A 30-day notice period prior to the next Valuation Date will apply to redemption requests.

REDEMPTION PAYMENT
Terra Redemptions are executed monthly, based on the net asset value (NAV) on the last business day of the month. Electronic redemptions are fulfilled on the 5th business day after month end. Direct redemptions are fulfilled by the 15th day after month end. Terra does not charge redemption fees.

TERRA 2010 FLOW-THROUGH LIMITED PARTNERSHIP
The 2010 Flow-Through LP assets are anticipated to rollover into Terra's ETF Mutual Fund on or about June/July 2011. Upon completion of the rollover, investors receive redeemable mutual fund shares, which they can choose to retain or redeem beginning September 30, 2011.

TERRA 2009 FLOW-THROUGH LIMITED PARTNERSHIP
The 2009 Flow-Through LP assets have rolled into Terra's ETF Mutual Fund. Investors received redeemable mutual fund shares, which they can choose to retain or redeem. Redemptions are administered through your Dealer or directly through Terra, depending on where the LP units were held. Terra ETF Fund shares may be tendered for redemption beginning July 1, 2010 for the next Valuation Date being July 30, 2010. For shares tendered after 4:00pm Toronto time on July 30, 2010, the shares may be redeemed on the next Valuation Date being August 31, 2010 provided the shares are tendered before 4:00pm on August 31, 2010. Thereafter, shares may be redeemed provided that a redemption request is submitted at least 30 days prior to the next month-end Valuation Date.

2005 TO 2008 TERRA FLOW-THROUGH LIMITED PARTNERSHIPS
The assets of the 2005, 2006, 2007 and 2008 Flow-Through LPs have rolled into Terra's Small Cap Resource Mutual Fund. Investors received redeemable mutual fund shares, which they can choose to retain or redeem. Redemptions are processed through your Dealer or directly through Terra, depending on where the LP units were held. Shares may be redeemed provided that a redemption request is submitted at least 30 days prior to the next month-end Valuation Date.

DEALER PURCHASES:
If your Terra Flow-Through LPs were purchased through a Registered Dealer and are held "on book", please contact your Investment Advisor and request that they submit an electronic redemption order.

DIRECT PURCHASES:
If your Terra Flow-Through LPs were purchased directly, please complete and fax the Redemption Form to Terra at 416-203-1544. To obtain a Redemption Form, please contact Terra at info@terrafunds.ca or 1-888-449-4645.