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09/27/13 - $0.10
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terrace ventures inc (TVER) Details

Terrace Ventures Inc., an exploration stage company, acquires and develops mineral properties in Canada. It has an option to acquire up to a 75% interest in the Golden Snow Project consisting of 111 unpatented mining claims covering approximately 3.5 square miles located in the Eureka Mining District in Eureka County, Nevada. The company was founded in 2001 and is based in Blaine, Washington.

terrace ventures inc (TVER) Top Compensated Officers

Chief Executive Officer, President, Chief Fin...
Total Annual Compensation: $30.0K
Compensation as of Fiscal Year 2013.

terrace ventures inc (TVER) Key Developments

Terrace Ventures Inc. Announces Change of Auditor

On June 27, 2013, Terrace Ventures Inc. received a notice of resignation from Sarna & Company as the company's independent registered public accounting firm. On June 27, 2013, the company appointed Saturna Group Chartered Accountants LLP as its new independent registered public accounting firm. The company's Board of Directors approved the engagement of Saturna Group Chartered Accountants LLP.

Terrace Ventures Inc. and Pengram Corporation Provide Update on Golden Snow Project

Terrace Ventures Inc. and Pengram Corporation provided update with respect to the Golden Snow Project in Eureka County, Nevada. Terrace is earning up to a 75% interest in the Golden Snow Property from Pengram. Once Terrace has completed earning its interest, the parties will form a 75/25 joint venture. During 2012, Terrace completed a work program on the property that consisted of soil sampling and rock sampling. Fourteen rock samples were collected in the area of a previously identified large 2,800 ft. diameter magnetic anomaly. Seventy-two soil samples were collected to help delineate the extension of the collapse breccia zones on the Golden Snow Project. Based on the successful completion of the program, Terrace's geological consultant has recommended that a program consisting of 3,000 feet of reverse circulation drilling to test locations for gold bearing collapse breccias and to test a probable intrusive indicated by ground magnetic data. The program has an estimated cost of $175,000. Subject to financing, Terrace intends to proceed with the recommended program. The geological consultant also recommended that Terrace locate and record additional claims adjacent to the property. This process is underway.


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