Terra Ventures Inc.

Terra Ventures Inc.

June 18, 2010 20:46 ET

Terra Granted Option by Novus Gold Corp. to Acquire a 60% Interest in the Dorothea Gold Property, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2010) - Terra Ventures Inc. ("Terra") (TSX VENTURE:TAS) is pleased to announce that it has entered into an option agreement with Novus Gold Corp. ("Novus") (TSX VENTURE:NOV) to acquire a 60% interest in the Dorothea Gold Property in Ontario (the "Property"). To exercise the option, Terra must pay Novus $7,500, make payments to the underlying vendor of $95,000 over a period of four years, and incur $400,000 in expenditures on the Property over a period of four years. The underlying vendor will retain a 2.0% net smelter returns royalty on the Property, 1.5% of which may be purchased for $500,000.

The Property consists of one mineral claim comprising 192 hectares in the Thunder Bay Mining District of Ontario. The main target of interest on the Property is the Hillside showing, discovered in the early 1990s. The showing consists of a poorly exposed shear zone in mafic volcanics, cut by multiple quartz stringers, some with visible gold. Assays of grab samples of vein material ranged up to 42 g/T Au.

Mike Magrum, P. Eng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.

On behalf of the board of directors of


Gunther Roehlig, President & CEO

This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.

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 or accuracy of this news release.

Contact Information

  • For further particulars about Terra, please contact
    Gunther Roehlig