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Overview:
The initial Phase I drill program of 8 R-C drill holes at the Middlegate Property was completed June 10, 2008, with a total of 7,500 feet drilled. Samples have been submitted for assay to American Assay Laboratories of Sparks, Nevada. The results, when received, will be reviewed along with additional information from soil sampling, rock sampling and mapping programs in order to identify further targets. Terraco is permitted for additional drilling at Middlegate.
The Middlegate property is located five (5) miles south of the town of Middlegate, Churchill County, Nevada and approximately 30 miles from the historic mine of Paradise Peak which from 1986 through to 1994, produced over 1.6 million ounces of gold and 24 million ounces of silver1 whilst being operated by Meridian Gold and approximately 20 miles southwest of the Denton-Rawhide mine which was operated by Kennecott Minerals, who produced over 1.1 million ounces of gold and 9 million ounces of silver from 1990 to 20002.
Geological:
Based upon initial observations, Middlegate alteration and mineralization commences at a very high level, at or near paleo-surface. Targets at the Middlegate Property include volcanic‑hosted, epithermal stockwork, breccia, and/or vein gold-silver deposits.
Exploration:
Based on initial rock sampling results which reported up to 9.2 grams per ton (“gpt”) (0.296 troy ounces per ton (“opt”) gold and 39.7 gpt (1.28 opt) silver, the company during 2008, commenced an exploration program which will include additional rock sampling; detailed mapping; soil sampling; geophysics and drilling.
1 Information disclosed on Meridian Gold Inc. website: http://www.meridiangold.com/operations_past.cfm
2 Information disclosed on Kennecott Minerals Company website: http://kennecottminerals.com/mines/rawhide.html | 
