Teras Appoints Mr. Michael Attaway to its Board of Directors and Mr. Patrick Fahey as Technical Advisor to the Board
23 May 2014 - 10:00PM
Access Wire
Calgary, AB / ACCESSWIRE / May 23, 2014
/ Teras Resources
Inc. ("Teras" or the "Company") (TRA.V): is
pleased to announce the appointment of Mr. Michael
Attaway to its Board of Directors and Mr. Patrick Fahey as
technical Advisor to its Board of Directors.
Peter Leger, President and CEO
for Teras comments "We are very pleased to have Mr. Attaway and Mr.
Fahey join the Teras team. Mr. Attaway brings years of mining
experience to the company as well as years of direct mining
experience with a similar project in California known as the
McLaughlin mine. Mr. Fahey also brings years of experience using
advanced tools and techniques to identify, expand and develop
projects such as Cahuilla. We look forward to moving Cahuilla to
the next stage with the additions to our team"
Mike Attaway, PE, has over 35 years'
experience in developing and operating mines; including senior
management, engineering, environmental permitting and compliance,
mine evaluation and government relations. He has participated in
the construction and start-up of six mines. Three of those mines
were gold mines in California: the McLaughlin Mine, the Colosseum
Mine and the Castle Mountain Mine. His mining experience in
California totals 17 years. Mr. Attaway also has successfully
operated a heap leach gold mine near the Arctic Circle. As well,
Mike has helped develop Pulp Agglomeration in the gold industry
increasing recovery and eliminating the need for a tailing pond. He
has also received numerous safety and environmental
awards.
Mike has worked in the western US, Mexico, the Yukon
Territory and Chile. He is currently the COO of Lincoln Mining
Company. Mike is a registered professional mining engineer. He has
a BS in Mining Engineering from the University of Arizona and an
MBA in Management from Golden Gate University.
Patrick Louis Fahey, P. Geo,
M.Sc. has over 30 years of international exploration experience in
gold and base metals ranging from grass roots through development
stage. 2005 to 2011, Pat served as Vice President, Exploration and
Chief Geologist for Quadra Mining Ltd. and Quadra FNX Mining Ltd
(now KGHM International). Under Pat's lead, the Quadra exploration
team discovered and drilled out the major new Sierra Gorda porphyry
copper deposit in Chile, expected to come on stream in mid-2014.
His team also added major new reserves extending the mine life of
Quadra's Robinson mine near Ely, Nevada. In the 1990's, Pat was
Manager of Southwest Exploration for Magma Copper and then
Principal Geologist for BHP Minerals leading a major porphyry
copper generative program in Arizona and Sonora. He has authored
and co-authored a number of papers and abstracts on geology and ore
deposits; and he is a Member of the Geological Society of America,
and a Fellow of the Society of Economic Geologists.
Teras continues to focus on
delivering shareholder value by developing its Cahuilla project in
Imperial County, California. As of May 21st, 2014 the company
received confirmation from Inspectorate Lab in Reno Nevada that the
results from the last diamond core drill program should be
completed within the next few days. The results will then be
reviewed by our technical team and released shortly
thereafter.
About Teras
Teras is focused on developing
its Cahuilla project located in Imperial County, California. The
project encompasses an area of at least 3 km by 1.5 km and Teras
believes that the Cahuilla project has the potential to develop
into a mining operation consisting of altered and mineralized
sedimentary and volcanic host rocks with numerous sheeted
high-grade quartz veins. Teras filed a NI 43-101 compliant
technical report with an indicated resource of 1.0 million ounces
of gold and 11.9 million ounces of silver on its Cahuilla project
(70 million tons at an average grade of 0.015 ounces per ton gold
and 0.17 ounces per ton silver with a cut-off of 0.008 ounces per
ton gold) and inferred class of 10 million tons grading 0.011 opt
gold and 0.10 opt silver. Gold equivalent ounces are 1.2 million
ounces in indicated class and 130,000 ounces in inferred class
using a ratio of 55 silver ounces to 1 gold ounce.
Dale A Vitone P. Eng.,
registered with the Association of Professional Engineers of
Ontario, Alberta and Northwest Territories and a director of 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 mining scientific and technical information contained
in this news release.
For
further project and corporate information, contact:
--------------------------
|Teras Resources Inc. | |
|Peter Leger, President| |
|(403) 262-8411 | |
|(403) 852-0644 | |
|Email: pleger@teras.ca| |
|Website: www.teras.ca | |
| | |
--------------------------
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy of accuracy of this news release.
This press release contains
"forward-looking information" within the meaning of applicable
Canadian securities legislation. All statements, other than
statements of historical fact, included herein are forward-looking
information. Generally, forward-looking information may be
identified by the use of forward-looking terminology such as
"plans", "goals", " expects" or "does not expect", "proposed",
"potential", "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 diamond drilling program being conducted by the
Company and the timing of results of such program; the potential of
the Company's Cahuilla project to develop into a mining operation;
and the Company's goals for the Cahuilla project. 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 availability of
third parties to conduct and evaluate the results of the diamond
drilling program; the actual results of exploration projects and
current exploration programs 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. A description of other assumptions used to
develop such forward-looking information and a description of other
risk factors that may cause actual results to differ materially
from forward-looking information can be found in the Company's
disclosure documents on the SEDAR website at
www.sedar.com. 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.
SOURCE: Teras Resources Inc.
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