Terex Resources Inc.
TSX VENTURE : TRR

Terex Resources Inc.

May 19, 2006 14:35 ET

Terex Closes Private Placement Over-Subscribed

TORONTO, ONTARIO--(CCNMatthews - May 19, 2006) - Terex Resources Inc. (TSX VENTURE:TRR) is pleased to announce that it has closed the private placement announced on April 20, 2006. The Company raised a total of $824,750 (6,598,000 units), close to 40% over subscribed. Of the amount raised $679,250 (5,434,000 units) was made in flow-through common share units with the balance of $145,500 (1,164,000 units) in common share units. Each unit was priced at $0.125 and comprised one common share and one common share purchase warrant exercisable at $0.15 for a period of 12 months post the closing date. The securities issued on closing are subject to a four-month hold period and the private placement is subject to regulatory approvals. A 7% finder's fee was paid to certain qualified parties at the discretion of the Company. The net proceeds of the offering will be used for exploration work on Terex's properties in the Wawa region where a drilling program is scheduled to commence this summer and for general working capital purposes.

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Shares Outstanding: 51,972,622

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

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