Teras Resources Inc.
TSX VENTURE : TRA

Teras Resources Inc.

February 01, 2012 09:01 ET

Teras Receives Assay Results Including 1.5m of 983 g/t Silver and 9.2m of 493.3 g/t Silver

CALGARY, ALBERTA--(Marketwire - Feb. 1, 2012) - Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA): is very pleased to announce the receipt of additional assay results from its reverse circulation drill program at the Cahuilla gold-silver project in Imperial County, California. The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple high grade veins that occur within an extensive body of disseminated gold-silver mineralization. For further information on the Cahuilla project refer to the NI 43-101 technical report entitled "Cahuilla Property 43-101 Technical Report," dated October 25, 2007 prepared by Todd Wakefield, MAusIMM of AMEC E&C Services filed on Sedar on November 15, 2007.

The most recent drilling was conducted approximately 250 meters southwest of the main body of known gold mineralization in an area containing relatively sparse drill coverage. As a result of the high grade gold mineralization encountered in CAH-139 and high grade silver values intersected in CAH-142, the number of drill holes dedicated to this area will be significantly increased as this prospective area deserves more attention since very little historic drilling currently exists.

With respect to CAH-142, gold and silver mineralization is completely open to the north, east and south as well as at depth. CAH-139 is situated approximately 160 meters west of CAH-142 and is completely open to the north, west and south as well as at depth. The long intercepts of lower grade gold mineralization were expected in this area as demonstrated by historic drill results, however the high grade gold and silver mineralization represent the discovery of new veins and/or strongly mineralized zones that will require significantly more drill testing.

Assaying of the reverse circulation samples is being conducted by Inspectorate Laboratory in Reno, Nevada. Drill samples were collected by Mr. Paul Stubble (consulting project geologist), split on site, placed in sample bags and delivered to Inspectorate Laboratory in Reno, Nevada for analysis.

The Company is very pleased to announce gold and higher grade silver assay results from the recent drilling:

Hole # From To TD Thickness - m
(ft)
Gold - g/t
(oz/ton)
CAH-141 19.8 91.4 91.4 71.6 (235) 0.62 (0.018)
CAH-142 3.1 10.7 173.7 7.6 (25) 0.55 (0.016)
25.9 82.3 56.4 (185) 1.13 (0.033)
102.1 140.2 38.1 (125) 1.61 (0.047)
Including 103.6 112.8 9.2 (30) *3.80 (0.111)
Including 128.0 137.2 9.2 (30) *1.92 (0.056)
CAH-143 18.3 73.2 182.9 54.9 (180) 0.62 (0.018)
97.5 114.3 16.8 (0.054) 1.85 (0.054)
Including 108.2 111.3 3.1 (10) 7.16 (0.209)
CAH-144 86.9 120.4 178.3 33.5 (110) 2.05 (0.060)
Including 94.5 100.6 6.1 (20) 7.50 (0.219)
Including 97.6 99.1 1.5 (5) 17.23 (0.503)
CAH-145 0 91.4 152.4 91.4 (300) 0.51 (0.015)
129.5 135.6 6.1 (20) 1.27 (0.037)
CAH-146 13.7 118.9 182.9 105.2 (345) 0.48 (0.014)
CAH-147 30.5 103.6 175.3 73.1 (240) 0.58 (0.017)
CAH-148 33.5 73.2 140.2 39.7 (130) 0.45 (0.013)

*The higher grade gold intercepts in CAH-142 also contain significant silver values including 213.6 grams (6.24 oz/t) from 103.6 to 112.8 meters (9.2m) and 493.3 grams (14.40 oz/t) from 128.0 to 137.2 meters (9.2m) including 1.5 meters of 4.45 grams gold (0.130 oz/t) and 983 grams silver (28.7 oz/t) from 135.6 to 137.1 meters.

Primary objectives of the drill program are to expand the known gold and silver mineralization delineated by historic drilling as well as search for additional high grade veins. Mr. Peter Leger, President/CEO of Teras Resources, remarked "Teras is very excited by the discovery of high grade silver mineralization and looks forward to better defining this new highly prospective mineralized area. Gold has been encountered along the entire three plus kilometer strike length at Cahuilla and the company is pleased to be aggressively drilling the project to enlarge the area containing known gold/silver mineralization."

Dale Vitone P. Eng., 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. Mr. Vitone has reviewed and verified the technical information contained in this news release.

About Teras

Teras' vision is to acquire and advance properties with established technical merit. The Company's exploration efforts will be focused on detailed drill programs with the goal of proving resources through the preparation of NI 43-101 compliant resource reports.

This press release may contain "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 reverse circulation drill program. 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 and future costs and expenses being based on historical costs and expenses, adjusted for inflation. 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.

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 of accuracy of this news release.

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