Teras Resources Inc.

Teras Resources Inc.

February 28, 2008 12:32 ET

Teras Resources Inc. Adds a New Director to Its Board

CALGARY, ALBERTA--(Marketwire - Feb. 28, 2008) - Peter Leger, President and Chief Executive Officer of Teras Resources Inc. ("Teras") (TSX VENTURE:TRA) is pleased to announce the appointment of John Batiuk to its Board of Directors.

Mr. Batiuk brings with him more than 30 years of business experience in the field of Project Manager and Senior Analyst. Mr. Batiuk is a successful professional with many years experience of the complete life-cycle of project management, process design, business planning, problem solving, selling and marketing, and has a proven track record demonstrating his ability to create and deliver real value for organizations. With extensive experience across a wide variety of industries, Mr. Batiuk has a solid understanding of cross-functional business needs with the skills to manage and lead diverse teams.

Mr. Batiuk graduated in 1978 from the University of Toronto and holds a B.Sc., with specialties in Geology and Chemistry. He has also completed an Executive Program in Marketing Management from the University of Western Ontario in 1988. Mr. Batiuk started out working in the geology department of an open-pit mine that produced zinc, copper, lead, silver and gold. He has conducted drill site sampling, assay logging, diamond drill core handling, 3-D modeling, and a variety of field work assignments, As well, Mr. Batiuk has conducted field mapping and surveys of selected areas in North Western Ontario.

Since 1977 until present Mr. Batiuk has held extensive positions and long term contracts with companies such as Precision Drilling Ltd., Ensign Energy Services Inc., Apple Computer - Canada, Telus Mobility Inc., Campbell Soup Company Ltd., FTP Software of Canada, SAP and i2 Technologies, Inc. In addition to his project management expertise, Mr. Batiuk has also been called upon for his experience as a marketing, business planning, and customer support analyst.

"We are thrilled that Mr. Batiuk has joined the team"; says Peter Leger President and CEO of the Company. "His expertise in project management is a valuable asset for Teras in taking the company's current projects to pre-feasibility and beyond. Mr. Batiuk's geological and chemistry background will aid in the development of our projects as they move forward."

Subject to regulatory approval, the Company is granting to Mr. John Batiuk, under the terms of its stock option plan, options to purchase up to 100,000 common shares at a price of $.18 per share. The options will vest over a two year period and have an expiry date of February 21, 2013.

Teras would also like to inform its shareholders that Jane McKay has stepped down as a director effective immediately. Teras would like to thank Ms. McKay for her time and dedication to the company during her time as a director.

Teras is continuing with the development of its current properties. The Company is awaiting final proposals for project development work which Teras would like to commence by spring of 2008. Teras intends to raise funds to proceed with the work plan it has developed on its Montana and Nevada projects and a further press release will be issued with the details of this financing. The work is intended to include mapping, geophysics and sampling.

Teras' vision is to acquire and advance properties with established technical merit. The company's exploration work will be focused on detailed diamond drilling programs and proving resources with an NI 43-101 compliant resource report.

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
    Email: pleger@teras.ca
    Website: www.teras.ca
    Stirling Investor Relations
    Sam Grier
    (403) 229-2115
    (403) 802-0766 (FAX)