Teras Resources Inc. provided a corporate update for its Cahuilla gold-silver project in Imperial County, California. The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple high grade veins that occur within an extensive body of disseminated gold-silver mineralization. Harris Drilling Company of Escondido, California mobilized a second reverse circulation drill to the Cahuilla project site in December 2011 and both drills resumed operations on January 5, 2012. The company's primary objective for expediting the drill program is to prepare a NI43-101 resource compliant report, which is anticipated to be completed in the third quarter of 2012. Assay results from the December 2011 drill program are currently being received and are expected to be reported. In addition, 1,007 samples were delivered to Inspectorate Laboratories in Reno, Nevada on January 24 and results should be available in next month. Teras has also conducted an analysis of the high grade gold intercept encountered in CAH-139 as reported in the press release dated December 14, 2011. The Company wanted to ensure that assay results from this vein are reproducible for mineral resource modeling. The original samples were collected during reverse circulation drilling operations from 88.4 meters to 91.5 meters and assayed 64.54 grams/ton including 1.5 meters of 104.32 grams/ton from 88.4 meters to 89.5 meters (290 - 300' @ 1.885 ounces/ton including 290 - 295 @ 3.046 ounces/ton). Given the very high grade assay results, a separate split was collected from the bulk samples encompassing the same 3.1 meter intercept and produced gold assays of 80.79 grams/ton including 1.5 meters of 135.4 grams/ton (10' @ 2.359 ounces/ton including 5' @ 3.954 ounces/ton).