Teras Resources Inc.

Teras Resources Inc.

September 29, 2010 09:01 ET

Teras Resources Pleased With Diamond Drilling Progress at Cahuilla

CALGARY, ALBERTA--(Marketwire - Sept. 29, 2010) - Teras Resources Inc. ("Teras" or the "Company") (TSX VENTURE:TRA) announces that the Company is pleased with the progress of its Phase 1 diamond drilling program at the Cahuilla gold-silver project in Imperial County, California. The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple bonanza-grade veins that occur within an extensive body of disseminated gold-silver mineralization. For further information on the Cahuilla project see 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.

A total of twenty holes have been permitted for the Phase 1 diamond drill program and five holes will initially be completed totaling approximately 2,000 feet (600 meters). The main purpose of this initial core drilling program will be to test the continuity of shallow high grade gold-silver veins which were intersected in historical drilling. The goal of the program is to expand the existing non-NI 43-101 compliant historical gold resource, as defined by Mine Development Associates in October 1996, and use the new drill information with the goal of calculating a mineral resource that will be NI 43-101 compliant. 

The Company is anticipating delivery of the first hole results to a certified lab in early October with initial assay results expected in November 2010. Permitting is underway for the Phase 2 program which, assuming positive results of a Phase 1 program, will consist of 200 drill holes totaling approximately 150,000 feet (46,000 meters) and the Company anticipates that approvals will be obtained in early 2011. 

The primary objective of the Company is to focus on developing a NI 43-101 compliant mineral resource.

Thomas E. Callicrate B.Sc., Professional Geologist 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. Callicrate has reviewed and verified the technical information contained in this news release through his knowledge and experience with the project.

About Teras

Teras' vision is to acquire and advance properties with established technical merit. Teras' exploration work will be focused on exploration programs with the goal of proving resources with a NI 43-101 compliant resource report.

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", "goal" 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. 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. 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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