Teras Provides Update to Its Shareholders

July 3rd, 2019

Calgary, Alberta--(Newsfile Corp. - June 26, 2019) - Teras Resources Inc. (TSXV: TRA) ("Teras" or the "Company"): announces that it has recently assigned the rights to its Clipper project situated in Lander Nevada. The terms of the assignment are such that Teras will receive cash payments of $60,000 USD over 5 months starting on August 15th, 2019. Teras will also receive half percent NSR which is purchasable for $250,000 USD. Teras is in discussions on other assets of the company and will update its shareholders in the near term.
Teras has recently received approval from the TSX Venture under submission 237475 to extend 13,483,750 Warrants having an exercise price of $0.15; issued in a private placement on July 6th, 2017 set to expire July 4th, 2019. The Warrants have been extended until July 4th, 2020; all other terms of the Warrants remain the same.
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 host rocks with numerous sheeted high-grade sheeted quartz veins. Teras filed a NI 43-101 technical report with an indicated resource of 1.0 million ounces of gold and 11.9 million ounces of silver on its Cahuilla project (70 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) and inferred class of 10 million tons grading 0.011 opt gold and 0.10 opt silver. Gold equivalent ounces are 1.2 million ounces in indicated class and 130,000 ounces in inferred class using a ratio of 55 silver ounces to 1 gold ounce. For further information on the Cahuilla project refer to the NI 43-101 technical report entitled "Cahuilla Property 43-101 Technical Report," filed with Sedar on November 27, 2012.
Dr. Dennis LaPoint, a qualified person under National Instrument 43-101 "Standards of Disclosure for Mineral Projects," and a Director for 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. Dr. LaPoint has reviewed and verified the mining, scientific and technical information contained in this news release. Dr. LaPoint is a registered geologist with the Society of Mining Engineers.
For further project and corporate information, contact:
Teras Resources Inc.
Peter Leger, President
(403) 262-8411
(403) 852-0644
Email: pleger@teras.ca
Website: www.teras.ca

« Back to All Articles

Current Teras Stock Price
Last Trade (+0.00)
,
View Detailed Stock Information

Current Gold Price $CAD

Current Gold Price in $CDN

Teras News

July 3, 2019
Teras Provides Update to Its Shareholders

More Details

April 17, 2019
Teras Announces Increase To and Closing of Unit Private Placement

More Details

August 5, 2018
Teras Announces Increase to and Closing of Unit Private Placement for its Upcoming Cahuilla Project Program

More Details

July 12, 2018
Teras Completes Its Acquisition and Adds High Profile Nevada Project and World Class Management

More Details

April 30, 2018
Teras Announces $1,400,000 Private Placement to Advance It's Cahuilla Project to a New Level

More Details

April 26, 2018
Teras Takes Leap Forward Adding World Class Management Expertise and High Profile Nevada Project with Merger

More Details