Teras Provides Its Shareholders With Corporate Update
Published : July 15, 2011
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Keywords :   Diamond | Gold | Market | Silver |

CALGARY, ALBERTA--(Marketwire - July 15, 2011) - Teras Resources Inc. ("Teras" or the "Company") (News - Market indicators): Peter Leger, President and Chief Executive Officer of Teras is pleased to announce that Teras has completed 12 additional core drill holes on its Cahuilla project and has entered into negotiations with Consolidated Goldfields Corporation to take the next steps in advancing the Cahuilla project. The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple bonanza-grade veins that occur within an extensive body of disseminated gold-silver mineralization. For further information on the Cahuilla project refer to the NI 43-101 technical report entitled "Cahuilla Property 43-101 Technical Report," dated October 25, 2007 prepared by Todd Wakefield, MAusIMM of AMEC E&C Services filed on Sedar on November 15, 2007.

The core program consisted of 12 Diamond drill holes totalling 333 meters. The purpose of the drill program is to test the surface dimensions and down dip extensions of the outcropping sheeted quartz veins on High Grade Hill using a series of shallow fenced holes to develop continuity and expand near surface gold/silver mineralization. Assaying of the core is currently in progress and is being conducted by Inspectorate Laboratory in Reno, Nevada. Results of the core samples will be announced once the analyses are completed.

Results from High Grade Hill will determine where we focus our more extensive reverse circulation drill program, which is anticipated to begin later this year. The principle objectives of the upcoming drill program will be to explore the many high grade veins that have been intersected throughout the project area and focus on the expansion of disseminated mineralization that was defined by historic drilling.

Dale Vitone P. Eng., a Director for the Company is the Company's nominated qualified person responsible for monitoring the supervision and quality control of the programs completed on the Company's properties. Mr. Vitone has reviewed and verified the technical information contained in this news release.

Mr. Thomas Callicrate, Vice president of Exploration for the Company has resigned as an office of the Company to avoid any conflicts while Teras and Consolidated Goldfields Corporation take the next steps in advancing the Cahuilla project. Toby Mancuso, having a long-time relationship with the project from a technical and mineral owner standpoint, will remain an Officer of Teras to guide the advancement of Cahuilla in a timely manner.

About Teras

Teras' vision is to acquire and advance properties with established technical merit. The Company's exploration work will be focused on detailed Diamond drilling programs with the goal of proving resources with an NI 43-101 compliant resource report.

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", " expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports or prior exploration results, and future costs and expenses being based on historical costs and expenses, adjusted for inflation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Teras Resources Inc.
Peter Leger
President
(403) 852-0644
pleger@teras.ca
www.teras.ca

Teras Resources Inc.

CODE : TRA.V
ISIN : CA8808411018
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Teras Resources is a gold development stage company based in Canada.

Teras Resources holds various exploration projects in USA.

Its main exploration properties are GOLDEN JUBILEE and CAHUILLA GOLD in USA.

Teras Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.6 millions as of today (US$ 1.2 millions, € 1.1 millions).

Its stock quote reached its highest recent level on March 16, 2012 at CA$ 1.80, and its lowest recent point on October 06, 2023 at CA$ 0.01.

Teras Resources has 161 000 000 shares outstanding.

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Financings of Teras Resources Inc.
6/5/2013Announces Closing of Private Placement Financing
Nominations of Teras Resources Inc.
6/26/2013Announces the Appointment of Dr. William C. Bagby as Advisor...
6/26/2013Announces the Appointment of Dr. William C. Bagby as Advisor...
4/13/2011Appoints New Corporate Secretary and Grant of Options
Project news of Teras Resources Inc.
10/9/2013(Cahuilla Gold)Provides Drill Program Update and Expects Assay Results in t...
10/1/2013(Cahuilla Gold)Deep Diamond Drill Core From the Cahuilla Gold/Silver Projec...
9/17/2013(Cahuilla Gold)Achieves Excellent Progress With Its Current Core Drilling P...
8/28/2013(Cahuilla Gold)Initiates Mobilization of National Drilling to Continue Deve...
4/23/2013(Cahuilla Gold)Receives Positive Geochemical Sample Results at the Cahuilla...
9/27/2012(Cahuilla Gold)Receives Additional Assay Results From Its Cahuilla Gold/Sil...
3/1/2011(Cahuilla Gold)Receives Assay Results from Preliminary Core Program and Iss...
2/16/2011(Cahuilla Gold)Moves Forward to Earn in on the Cahuilla Gold Project and Is...
Corporate news of Teras Resources Inc.
7/23/2016Teras Announces Increase To And Closing Of Unit Private Plac...
7/6/2016Teras Announces $800,000 Private Placement To Advance The Ne...
5/5/2016Teras Appoints Mr. Kenneth Cunningham to its Board of Direct...
3/23/2016Teras Announces Resignation of Mr. Michael Padley as a Direc...
2/2/2016Teras Corrects New Announcement of February 2, 2016
2/2/2016Teras Announces $400,000 Private Placement
1/20/2016Teras Provides Corporate Update to Its Shareholders
7/3/2015Teras Receives Results From Core Drill Program
7/2/2015Teras Receives Results from Core Drill Program
4/14/2015Teras Completes its Drilling Program at Cahuilla and Recieve...
3/13/2015Teras Commences Core Drilling Program At Cahuilla
3/12/2015Teras Commences Core Drilling Program at Cahuilla
1/30/2015Teras Closes $1,425,940 Offering of Common Shares
1/30/2015Teras Closes $1,425,940 Offering of Common Shares
1/24/2015Teras Increases Financing to $1,425,000
1/22/2015Teras Increases Financing to $1,425,000
1/7/2015TERAS APPOINTS MR. MIKE PADLEY AS DIRECTOR OF FINANCE AND TO...
12/17/2014TERAS COMPLETES AN INDEPENDENT REVIEW OF CAHUILLA’S RECENT D...
12/16/2014Teras Completes an Independent Review of Cahuilla's Recent D...
10/2/2014Teras Announces Resignation of Mr. Gorden Glenn as a Directo...
9/12/2014Teras Provides Corporate Update
6/27/2014Teras Appoints Mr. Gordon Glenn to its Board of Directors
6/10/2014Teras Announces its Intention to Re-file its Statements
6/6/2014Teras Announces Adoption of Advance Notice By-Law
6/5/2014Teras Issues Final Tranches of Shares to Consolidated Pursua...
6/5/2014Teras Receives Results from its Core Drill Program including...
6/4/2014Teras Appoints Dr. James G. Clark as Technical Advisor to th...
5/23/2014Teras Appoints Mr. Michael Attaway to its Board of Directors...
4/25/2014Teras Provides Corporate Update
3/19/2014Teras Corporate Update
10/17/2013Receives Over $2.6 Million Dollars in Exercised Warrants
10/17/2013Receives Over $2.6 Million Dollars in Exercised Warrants
9/24/2013Completes First Deep Core Hole and Discovers Strongly Altere...
5/23/2013Announces $1.5 Million Dollar Financing
5/9/2013Provides Corporate Update and Announces the Cahuilla Technic...
5/2/2013Significantly Increasing Silver Values on Its Cahuilla Proje...
3/28/2013Receives Gravity Geophysical Results and Provides Corporate ...
2/19/2013Receives Positive Geochemical Sample Results Substantially I...
1/24/2013Receives Positive Metallurgical Test Results for Its Cahuill...
1/11/2013Files Technical Report and Provides Corporate Update
12/11/2012Provides Corporate Update
11/6/2012(Cahuilla Gold)Receives Additional Assay Results from Its Cahuilla Gold/Sil...
10/18/2012Receives Drill Results Including 128.0m of 1.26 g/t Gold fro...
10/2/2012Provides Cahuilla Project Update
7/15/2011Provides Its Shareholders With Corporate Update
5/5/2011Initiates 2nd Phase Drill Program
4/7/2011Receives Advanced Drill Permit for Its Cahuilla Project
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