Teras Resources Inc.

Teras Resources Inc.

January 18, 2007 09:00 ET

Teras Announces the Appointment of Its New CFO

CALGARY, ALBERTA--(CCNMatthews - Jan. 18, 2007) - Teras Resources Inc. ("Teras") (TSX VENTURE:TRA): Peter Leger, President and Chief Executive Officer of Teras is pleased to announce the appointment of its new CFO Mr. Trent Fedak. We are excited with the full time commitment Mr. Fedak has made to the company and the high level of enthusiasm he offers. Mr. Fedak will play an instrumental role as a team member in the growth of the company.

Trent Fedak is a native of Foam Lake, Saskatchewan. Mr. Fedak earned a Bachelor of Commerce Degree with majors in Finance and Information Systems at the University of Saskatchewan in Saskatoon.

Subsequent to this, Mr. Fedak became an Area Sales Manager for New Holland Canada Inc. a subsidiary of CNH Global N.V. Mr. Fedak was quickly promoted to Western Canada Parts Sales Manager with New Holland after a short time with the company. Through his career Mr. Fedak has held other positions as Sales Manager - North America for a private agricultural company, as well as other positions with publicly traded oil & gas and agricultural companies. Mr. Fedak's motivation and determination have been major contributors to his current success. Mr. Fedak has received several acknowledgements and awards for business and sales excellence throughout his career.

Mr. Fedak currently holds the position of V.P. Finance at Modus Group Management Inc. in Calgary, AB. He is an active corporate member at the Calgary Chamber of Commerce, a member of the Airdrie Oilmens' Association, and a member of the Calgary Real Estate Board.

Teras would also like to inform its shareholders that Thomas M. M. Bender has resigned as a director as of today. Teras would like to thank Mr Bender for his services and wish him all the best in future endeavours.

Teras Resources Inc. is a junior mining and exploration company located in Calgary, Alberta, Canada. At present, the company holds two properties of interest for gold exploration which are located in Montana, USA, and management is reviewing options to acquire several additional gold targets in the U.S. and Canada. Both properties in Montana are partially exploited small gold mines with publicly available historical data. The Watseka mine site data is currently being reviewed in detail, and non NI43-101 historical reports indicate that the mine has only been partially exploited. Teras intends to carry out a literature review of the historical data and early stage exploration in the immediate district in the spring of 2007.

Teras' other main property of interest is the "Golden Jubilee" property, which consists of a claim block located in Granite County, Montana. The property includes an abandoned gold mine with available historical data indicating a partially exploited replacement style gold vein. A detailed exploration work program and budget has been prepared for this project and feasibility diamond drilling is planned for the spring of 2007, if permits can be acquired. An independent technical report which is NI43-101 compliant will be carried out after the drilling program in the summer of 2007 has been completed.

Teras' vision is to acquire properties with established technical merit that are at or near to the pre-feasibility stage. The company's exploration work will be focused on detailed diamond drilling programs and proving resources with an NI 43-101 compliant resource report.

Dale A. Vitone, B.Sc., P.Eng., 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.

Teras will continue to update shareholders on the progress of future corporate news, financings, and project developments.

Stock Symbol TRA on the TSX-Venture Exchange

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the Alberta Securities Commission, the British Columbia Securities Commission and maintained on www.sedar.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Teras Resources Inc.
    Peter Leger
    (403) 852-0644