Teras Resources Inc. announced the appointment of Mr. Joseph "Joe" Carrabba as Director, President and CEO. He holds a Bachelor's Degree in Geology from Capital University and an MBA from Frostburg State University. He has an extensive and impressive mining background; he recently retired as Director of Newmont Mining (June 2019) serving on Newmont's Operations and Safety Committee and the Environmental and Social Committee as well as Chair of Newmont's Safely and Sustainability Committee.

He was also the Chairman, President and Chief Executive Officer of Cliffs Natural Resources Inc., formerly Cleveland-Cliffs Inc. from 2005 to 2013, with multinational mining operations in North America, Australia, Latin America and Asia. From 2003 to 2005, he served as President and Chief Operating Officer of Diavik Diamond Mines Inc. He has extensive board experience with several listed companies including Key Bank, Lithium-X, Fura Gems, Newmont Mining, and Timken Steel. He is also on the board of many TSX-listed companies including AECON, NioCorp, Winston Gold and Bond Resources.

The company has announced that Mr. John Batiuk has resigned as a director of company to pursue his retirement.