July 10, 2008
TERAS RESOURCES INC. ANNOUNCES TERMINATION OF LETTER OF INTENT TO
COMPLETE BUSINESS COMBINATION
Teras Resources Inc., ("Teras") (TSXV: TRA) announces that the Letter of Intent (see news release
dated June 26, 2008) for a proposed arm’s length business combination (the “Proposed Transaction”) of
Boxxer Gold Corp. and with a wholly owned subsidiary of Prize has been collectively and jointly
terminated by the parties.
Teras Resources Inc., is a Canadian junior resource company exploring its two Montana US, projects;
the first known as the Golden Jubilee in Granite County and the second is a Patented property known as
the Watseca which embraces a portion of the Rabbit Mining District in Madison County. Teras also
holds three properties in Nevada US., in which it is currently engaged in exploring. The properties are
known as the Tuco and Tombstone in Mineral County and Spanish Canyon located in the Grantsville
Teras will continue to update shareholders on the progress of future corporate news, financings, and
FOR FURTHER INFORMATION PLEASE CONTACT:
Teras Resources Inc.
Peter Leger, President
Stock Symbol TRA on the TSX-Venture Exchange
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.