Calgary, Alberta–(Newsfile Corp. – March 31, 2022) – Teras Resources Inc. (TSXV: TRA) (OTCQX:TRARF) (“Teras” or the “Company”) reports that it has increased its land position on its Watseka gold property in Madison County Montana.
Teras’ Watseka property consists of 12 patented mining claims owned by Teras. The Watseka property currently has a mill site processing facility equipped for treating precious metal ores as well as a separate assay laboratory for analysing ore to be mined and processed. The mill and mine site are located in the Rochester Mining District, Madison County, Montana, on the east slope of the continental divide where mine operations can be conducted year-round. Primary access to the mine site is via county roads leading from a state highway that are maintained throughout the year by state and federal funds.
Mr. Joseph Carrabba, CEO of Teras, stated “We are pleased to advance our Watseka project with the addition of approximately 65 acres of leased land that joins our project. These claims are strategic in the development of Watseka, which we could potentially mine and mill at our site. The newly leased lands have been historically sampled and drilled with very encouraging results. We will provide our shareholders with further progress reports in the coming weeks.”
Effective immediately, Lawrence O’Conner has resigned as Vice President of Project Development to pursue other opportunities. We wish Mr. O’Conner success in his future endeavours.
Teras main project is its Cahuilla project located in Imperial County, California.
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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 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. In particular, this press release contains forward-looking information regarding: the ability to raise the capital needed for the companies Watseca project, the development and advancement of the Watseca project, the development of the geologic model in respect of the Watseca project, the development of further drill plans in relation to the Watseca project and the potential of the Watseca project to develop into a mining operation. 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, future costs and expenses being based on historical costs and expenses, adjusted for inflation, the ability of the Company to obtain acceptable financing, market acceptance of its exploration programs and projects; consistent and favorable commodity prices; and regulatory acceptance of the Company’s geologic models . 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.