Joint News Release of Terrace Ventures Inc. (TVER) and Pengram Corporation (PNGM) -- Golden Snow Project Update

  Joint News Release of Terrace Ventures Inc. (TVER) and Pengram Corporation
                     (PNGM) -- Golden Snow Project Update

PR Newswire

BELLINGHAM, Wash., Nov. 12, 2012

BELLINGHAM, Wash., Nov. 12, 2012 /PRNewswire/ --Terrace Ventures Inc.
(Symbol: TVER.OTCQB) ("Terrace") and Pengram Corporation (Symbol: PNGM.PK)
("Pengram") issued the following joint news release today with respect to the
Golden Snow Project in Eureka County, Nevada.

Terrace is earning up to a 75% interest in the Golden Snow Property from
Pengram. Once Terrace has completed earning its interest, the parties will
form a 75/25 joint venture.

During 2012, Terrace completed a work program on the property that consisted
of soil sampling and rock sampling. Fourteen rock samples were collected in
the area of a previously identified large 2,800 ft. diameter magnetic
anomaly. Seventy-two soil samples were collected to help delineate the
extension of the collapse breccia zones on the Golden Snow Project. Based on
the successful completion of the program, Terrace's geological consultant has
recommended that a program consisting of 3,000 feet of reverse circulation
drilling to test locations for gold bearing collapse breccias and to test a
probable intrusive indicated by ground magnetic data. The program has an
estimated cost of $175,000. Subject to financing, Terrace intends to proceed
with the recommended program. The geological consultant also recommended that
Terrace locate and record additional claims adjacent to the property. This
process is underway.

About the Golden Snow Project

The Golden Snow Project is located in the Battle Mountain-Eureka Trend,
approximately eight miles south of the East Archimedes gold deposit where
Barrick Gold Corporation is currently mining a Carlin-type sediment hosted
gold deposit (approximately 2 million ounces gold produced and discovered).
The Eureka district is at the south end of a northerly trending series of
intrusives. Within the district a prominent north-south alignment of gold
deposits trends towards the Golden Snow Project.

Gold reported by Timberline Resources Corp for the Lookout and South Adit area
(approximately 2 to 4 miles north of the Golden Snow Project) includes:

  o390,000 ounces in a Measured & Indicated Resource category (20.7 million
    tons @ 0.019 opt Au)
  o221,000 ounces in an Inferred Resource category (18.4 million tons @ 0.012
    opt Au)

These are localized along the Ratto Ridge Fault Zone, which projects south
onto the Golden Snow Project.

About Terrace Ventures Inc. (TVER)

Terrace's business plan is to assemble a portfolio of mineral properties with
gold potential and to engage in the exploration and development of these
properties. Terrace currently has an option agreement to acquire up to a 75%
interest in Pengram's Golden Snow Property.

Investor Contact for Terrace:
 Tel: (360) 220-5218

About Pengram Corporation (PNGM)

Pengram Corporation (PNGM) is an exploration-stage company. Pengram is
engaged in the acquisition and exploration of properties to search for gold
mineralization in Canada and the United States. In Nevada, the Company
controls 168 claims covering approximately 4.4 square miles. In Canada,
Pengram controls 8,372 acres (3,388 hectares) in the historically prolific
Cariboo Mining District.

Investor Contact for Pengram:
 Tel: (877) 225-8808

Forward Looking Statement

Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties. Words
such as "expects," "intends," "plans," "may," "could," "should,"
"anticipates," "likely," "believes" and words of similar import also identify
forward-looking statements. Forward-looking statements are based on current
facts and analyses and other information that are based on forecasts of future
results, estimates of amounts not yet determined and assumptions of
management. The statements regarding future exploration on the Golden Snow
Project in this news release are forward-looking statements. Such statements
are based on current expectations. Actual results could vary materially from
the description contained herein due to many risk factors; in particular,
there is no assurance that Terrace will obtain the financing necessary to
complete the recommended work program and the additional requirements to earn
its 75% interest in the property. There is also no assurance that exploration
work on the Golden Snow Property will result in a discovery of a commercial
body of ore. The forward-looking statements contained in this news release
speak only as of the date on which they are made, and neither Terrace nor
Pengram undertakes any obligation to update any forward-looking statement to
reflect events or circumstances after the date of this press release.

SOURCE Pengram Corporation

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