Terrace Resources Inc.
TSX VENTURE : TZR.P

June 12, 2009 17:01 ET

Completion of Business Combination of Five CPCs and Resumption of Trading of Terrace Resources Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2009) - Terrace Resources Inc. (TSX VENTURE:TZR.P) ("Terrace") is pleased to announce that it has completed all steps of the business combination transaction further to the joint news releases dated June 2, 2009 and May 25, 2009.

Terrace confirms that effective June 5, 2009, each of Bowram Energy Inc., Woodbridge Energy Ltd., Chinook Capital Ltd. and Fortriu Capital Ltd. were dissolved under the Business Corporation Act (British Columbia).

Following the completion of the transactions, Terrace has 30,881,821 common shares issued and outstanding. Pursuant to a bulletin of the TSX Venture Exchange issued today, shares of Terrace will resume trading on the Exchange (symbol: TZR.P) at market open on June 15, 2009.

Terrace has two years following the date of the Exchange's bulletin to complete a "Qualifying Transaction" under the policies of the Exchange.

TERRACE RESOURCES INC.

William McCartney, Chief Executive Officer

Neither 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 release.

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