Five Capital Pool Companies Complete Combination of Funds and Share Distribution

Terrace Resources Inc. (TSX VENTURE:TZR.P) ("Terrace"), Bowram Energy Inc. (TSX
VENTURE:BRO.P) ("Bowram"), Woodbridge Energy Ltd. ("Woodbridge") (TSX
VENTURE:WMD.P), Chinook Capital Corp. (TSX VENTURE:CNK.P) ("Chinook") and
Fortriu Capital Corp. (TSX VENTURE:FTC.P) ("Fortriu") (collectively, the
"Companies") are pleased to announce that the Companies have completed the
private placement and distribution of Terrace shares described in the joint news
release dated May 25, 2009.


The Companies have now completed the steps noted below as part of the business
combination transaction pursuant to which the Companies have aggregated their
capital into one entity (Terrace) so that a qualifying transaction can be
pursued with significant funding on hand during a renewed two year period.


Terrace Share Consolidation

Effective May 29, 2009 Terrace consolidated its 18,000,000 outstanding shares
into 10,550,501 post-consolidation shares on the basis of a consolidation ratio
of 1.70608 pre-consolidation shares for one (1) post-consolidation share.


Terrace Private Placement

On June 2, 2009, Terrace issued a total of 20,331,320 post-consolidation common
shares at a price of $0.10 per share to Bowram, Woodbridge, Chinook and Fortriu
(collectively, the "Investing CPCs") for aggregate gross proceeds, before
transaction costs, of $2,033,132, as a result of which the Investing CPCs have
combined their cash with the cash holdings of Terrace.


Share Distribution

In conjunction with the completion of the private placement, each of the
Investing CPCs will distribute the shares of Terrace it acquired under the
private placement to the Investing CPC's shareholders, on a pro rata basis, as
at the distribution record date of June 2, 2009.


Dissolution of Investing CPCs

Pursuant to the business combination transaction, the Investing CPCs will be
dissolved on or about June 5, 2009 under the provisions of the Business
Corporations Act (British Columbia).


Following the dissolutions Terrace will make its final filing with the TSX
Venture Exchange in connection with the transaction, including confirmation of
the cash escrow pursuant to which 90% of all cash held by Terrace, net of
transaction costs, will be placed in trust, subject to either being released to
Terrace upon the completion of a qualifying transaction or returned to the
shareholders of Terrace if it does not complete a qualifying transaction within
24 months after the closing of the transaction.


Trading in Terrace's shares remains halted by the Exchange, under the new symbol
"TZR.P", until the completion of the remaining steps under the business
combination transaction. The Investing CPCs will be de-listed from the Exchange
in conjunction with the dissolutions.


ON BEHALF OF THE BOARDS OF DIRECTORS OF:

Terrace Resources Inc.

William McCartney, Chief Executive Officer

Bowram Energy Inc.

David Winter, Chief Executive Officer

Woodbridge Energy Ltd.

Eric Boehnke, Chief Executive Officer

Chinook Capital Corp.

Paul Clough, Chief Executive Officer

Fortriu Capital Corp.

Aaron Keay, Chief Executive Officer