Mr. Joseph Carrabba reports

TERAS PROVIDES UPDATE TO ITS SHAREHOLDERS

A cease trade order has been issued by the Alberta Securities Commission (ASC) and trading of Teras Resources Inc.'s shares has been halted.

Teras states: "We have not been able to complete the company's May 31, 2023, annual audit within the compliance deadline; therefore, the ACS has issued a cease trade order. The reason the company failed to meet its deadline was due to insufficient cash to pay its auditor. The company is currently working to resolve this matter within the time frame provided and will update the shareholders with the company's progress."

About Teras Resources Inc.

Teras main project is its Cahuilla project located in Imperial county, California.

We seek Safe Harbor.