---

CERTIFICATIONS

I, Howard Thomson, certify that;

|(1) | I have reviewed this Annual Report on Form
        10-KSB/A of Terrace Ventures Inc.;                                                                                                                                                                                                                                                     
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                           
|(2) | Based on my knowledge, this report does not
        contain any untrue statement of a material fact or omit to state a material
        fact necessary to make the statements made, in light of the circumstances
        under which such statements were made, not misleading with respect to
        the period covered by this report;
|    |                                                                                                                                                                                                                                                                                                                                           
|(3) | Based on my knowledge, the financial statements,
        and other financial information included in this report, fairly present
        in all material respects the financial condition, results of operations
        and cash flows of the small business issuer as of, and for, the periods
        presented in this report;        
|    |                                                                                                                                                                                                                                                                                                                                           
|(4) | I am responsible for establishing and maintaining
        disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
        and 15d-15(e)) for the small business issuer and have:                                                                                                                                   
|    |                                                                                                                                                                                                                                                                                                                                           
|    | a)                                                                                                                                                                                                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                           
|    | b)                                                                                                                                                                                                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                           
|    | c)                                                                                                                                                                                                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                           
|(5) | I have disclosed, based on our most recent
        evaluation of the internal control over financial reporting, to the small
        business issuers auditors and the audit committee of small business
        issuers board of directors (or persons performing the equivalent
        functions):                                   
|    |                                                                                                                                                                                                                                                                                                                                           
|    | a)                                                                                                                                                                                                                                                                                                                                        
|    |                                                                                                                                                                                                                                                                                                                                           
|    | b)                                                                                                                                                                                                                                                                                                                                        

Date: March 29, 2007

|       | */s/ Howard Thomson*        
|------ | ----------------------------
|By:    | HOWARD THOMSON              
|Title: | Chief Executive Officer, and
|       | Chief Financial Officer     

---