Nov. 11, 2010 (Filing Services Canada) -- Terreno Resources Corp. (TNO - TSX Venture), ("Terreno" or the "Company") is pleased to announce that effective today a new management team has been selected for the ongoing development of the Company. Philip Williams has been appointed to the position of President and Chief Executive Officer and Peter Mullens, based out of, Lima, Peru will assume responsibility for Terreno's exploration programs as Vice President of Exploration. Both Mr. Williams and Mr. Mullens will continue on Terreno's Board of Directors.
Terreno is also pleased to announce that Sheldon Inwentash has been appointed to the Company's Board of Directors. Mr. Inwentash is Chairman and CEO of Pinetree Capital Ltd., a Canadian investment company with a large portfolio of investments primarily in the junior resource and energy sectors, including Terreno. Mr. Inwentash, a Chartered Accountant, also serves as a Director and Officer for several other TSX and TSX Venture Exchange listed companies, including Mega Uranium Ltd and Brownstone Ventures Inc. He brings more than 25 years of experience in the investment industry and a deep understanding of progressive investment and financial management strategies. Mr. Inwentash was an Ontario finalist for the 2007 Ernst & Young Entrepreneur of the Year Award.
"I am pleased to have Philip and Peter assume the roles of President and CEO and VP of Exploration of Terreno," stated John Icke, Chairman and Director of the Company. "Working with Philip on the reengineering and development Terreno over the course of the past year has allowed me the opportunity to get to know him well and I expect him, with the valuable assistance of Peter, to rapidly move the company forward to the benefit of all shareholders. I am also excited that Sheldon has agreed to take a position on the Board. His presence and experience will, I am sure, provide significant benefit to the development of the Company and hopefully result in significant enterprise value enhancement."
Terreno also announces that it has granted incentive stock options to certain Directors and consultants of the Company, entitling them to purchase up to 2,780,000 common shares of the capital stock in the Company at a price of $0.35 per share for the next 5 years. The share price at the close of trading on November 9, 2010, the day prior to the grant, was $0.35 per share.
About Terreno Resources
Terreno, meaning "of the earth" in Spanish, represents the Company's focus on natural resource opportunity development in South America. Over time, Terreno intends to assemble a portfolio of projects with short, medium and long term liquidity capabilities. We intend to take advantage of the vast array of natural resource exploration opportunities in South America and plan to become a leading developer of assets on this exciting continent of South America through acquisitions or partnerships.
On behalf of the Board of Directors
"John Icke"
Chairman
For further information, please contact:
Nicola Street Capital
Tel: 604.569.0056
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Terreno Resources Corp.
1430 - 800 West Pender Street
Vancouver, BC, Canada V6C 2V6
Tel 604.688.8316
Fax 604.684.2990
info@terrenoresources.com
www.terrenoresources.com
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