Terra Ventures Inc. ("Terra") is pleased to announce that it has entered into an option agreement with Novus Gold Corp. ("Novus", TSXV: NOV) to acquire a 60% interest in the Dorothea Gold Property in Ontario (the "Property"). To exercise the option, Terra must pay Novus $7,500, make payments to the underlying vendor of $95,000 over a period of four years, and incur $400,000 in expenditures on the Property over a period of four years. The underlying vendor will retain a 2.0% net smelter returns royalty on the Property, 1.5% of which may be purchased for $500,000.
The Property consists of one mineral claim comprising 192 hectares in the Thunder Bay Mining District of Ontario. The main target of interest on the Property is the Hillside showing, discovered in the early 1990s. The showing consists of a poorly exposed shear zone in mafic volcanics, cut by multiple quartz stringers, some with visible gold. Assays of grab samples of vein material ranged up to 42 g/T Au.
Mike Magrum, P.Eng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
For further particulars about Terra, please contact Gunther Roehlig, President, at 1-866-683-0911 or visit the Company’s website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
Gunther Roehlig, President & CEO