Teras Provides Corporate Update
Calgary, AB / TNW-ACCESSWIRE / March 18 2014 / Teras Resources Inc. ("Teras" or the "Company") (TRA.V): is pleased to announce the appointment of Mr. Doug Pinder as Capital Markets and Finance Advisor to the company's board of directors.
Mr. Doug Pinder B.Com, is a corporate executive with more than 30 years' experience building businesses in numerous industries. Most recently Mr. Pinder acted as Senior Vice President and Area Manager for TD Waterhouse: a division of one of Canada's leading financial institutions, TD Bank. Mr. Pinder has significant experience in capital markets, financings, regulatory and governance environments, and advising companies in public and private markets across a broad range of industry sectors.
Peter Leger, president and CEO for Teras comments "We are very pleased to have Mr. Pinder join the company at such an important time in developing our Cahuilla project. Mr. Pinder's experience and skill set will play an important role in assisting Teras to grow its presence in the industry and with Capital markets"
Teras continues to focus on delivering shareholder value by developing its Cahuilla project in Imperial County, California. As of March 17th, 2014 the company completed 4 diamond core holes of its current angled drill program with respective depths of 500, 650, 600 and 500 feet and currently on the 5th hole with a target depth of 600 feet. Core will begin shipping tomorrow to Inspectorate Lab in Reno Nevada. The results of the drilling will be released once received.
About Teras
Teras is focused on developing its Cahuilla project located in Imperial County, California. The project encompasses an area of at least 3 km by 1.5 km and Teras believes that the Cahuilla project has the potential to develop into a mining operation consisting of altered and mineralized sedimentary and volcanic host rocks with numerous sheeted high-grade quartz veins. Teras filed a NI 43-101 compliant technical report with an indicated resource of 1.0 million plus ounces of gold and 11 million plus ounces of silver on its Cahuilla project (70.148 million tons at an average grade of 0.015 ounces per ton gold and 0.17 ounces per ton silver with a cut-off of 0.008 ounces per ton gold). The Company has a goal to increase the grade and tonnage of the resource and develop the project for future mining operations.
Dale A Vitone P. Eng., registered with the Association of Professional Engineers of Ontario, Alberta and Northwest Territories and a director of Teras, 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 mining scientific and technical information contained in this news release.
For further project and corporate information, contact:
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|Teras Resources Inc. | |
|Peter Leger, President| |
|(403) 262-8411 | |
|(403) 852-0644 | |
|Email: pleger@teras.ca| |
|Website: www.teras.ca | |
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This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "goals", " expects" or "does not expect", "proposed", "potential", "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. In particular, this press release contains forward-looking information regarding the diamond drilling program being conducted by the Company and the timing of results of such program; the potential of the Company's Cahuilla project to develop into a mining operation; and the Company's goals for the Cahuilla project. 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 availability of third parties to conduct and evaluate the results of the diamond drilling program; the actual results of exploration projects and current exploration programs 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. A description of other assumptions used to develop such forward-looking information and a description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. 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.
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