The National League South side do not own their current Treyew Road home and must leave at the end of the season.
Silver Bow's planning permission runs out on 28 July and Masters is trying to find them a place to play next term.
"I've got to say it is very worrying off-field and it is a distraction," he told BBC Radio Cornwall.
"I've been working with them [developers] to try and make it viable and we've been working very hard over the last six weeks to find a solution.
"We are now into the end game of everything, it's got to be sorted out. We must have a football ground in Truro to get the infrastructure in place."
Treyew Road is owned by Helical, who plan to build a retail park on the site when the club moves to the outskirts of the city.
Truro, only two points above the drop zone, again have the option of ground sharing with Devon side Torquay next season, but Masters says this not their preferred route.
"By the end of next week I'm hoping to release something which will us the place where we are playing [next season]," Masters added.
"The developers at this time are telling me that the whole project at Silver Bow is no longer financially viable, which is a massive statement to make.
"If the decisions are not made in the favour of Truro City, there won't be any Truro City around."
Truro City chairman Peter Masters says the developers of the club's proposed new Silver Bow stadium have told him it is "no longer financially viable".