Teryl Resources Corp.
OTC Bulletin Board : TRYLF

Teryl Resources Corp.

August 05, 2009 09:15 ET

Teryl Resources Receives Additional Significant Gold Assays on the Gil Joint Venture Property, Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2009) - Teryl Resources Corp. (TSX VENTURE:TRC)(OTCBB:TRYLF) is pleased to announce that additional significant gold assays have been received from our joint venture partner Fairbanks Gold Mining, Inc. (FGMI), a subsidiary of Kinross Gold Corporation, for the R/C drilling program on the Gil J/V property located in the Fairbanks mining district, Alaska.

A total of 33 R/C drill holes and 6 core drill holes have been completed in the 2009 exploration program which has been budgeted for $1.6 million. Certified assays are pending on all drill holes. The main focus of the drilling is on the Sourdough Ridge zone, which is similar in geology to the Main Gil zone. The Main Gil zone has been drilled extensively in the past over a 3,000 ft strike length with an average grade of .04 ounces gold per ton.

Preliminary assays from the following holes as follows:

Ounces Per Grams Per
Hole Number Feet Ton Gold Ton Gold
GVR-09-540 105' (from 145'-250') .14 4.00
GVR-09-534 75' (from 15'-90') .09 2.50
GVR-09-523 110' (from 125'-230') .04 1.10

These drill results are in addition to previously reported assays from a Company News Release dated July 2, 2009.

As of July 2, 2009 the Gil Project is an advanced exploration program controlled by Teryl Resources and joint venture partner, Kinross Gold Corporation. The exploration area is located 19 miles north of Fairbanks, Alaska and 8 miles northeast of Alaska's largest gold producer, the Fort Knox Mine (owned by Kinross Gold). The Gil Project consists of three adjacent prospect areas; the Main Gil Zone, the North Gil Zone and Sourdough Ridge.

A total of US$7,500,000 has been expended by the joint venture partners between 1992 and 2008, with Teryl and Kinross accounting for 20% and 80% respectively of total expenditures. Lode prospects at the Gil have been tested by 86 core holes totaling 33,354 feet, 327 reverse circulation drill holes, totaling 93,804 feet, and 21 trenches with a combined length of approximately 7,420 feet.

John Robertson states that the current gold assay results are extremely favorable compared to the adjacent producing Fort Knox Mine values of .03 ounces per ton.


With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX:K)(NYSE:KGC) (80% Kinross/20% Teryl). To date USD$7.5 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. A USD$1.6 million budget has been approved for 2009 to draft test several gold anomolies on the Gil Claims. The Company's other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTCBB:LNXGF); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl also has one joint venture silver prospect located in Northern BC, Canada. Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company's website at http://www.terylresources.com.


John Robertson, President


This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated; the accuracy of reserve and resource estimates, if any, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; changes in laws, rules and regulations applicable to Teryl, and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, and the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in the Company's Financial Statements, Management Discussion and Analysis and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com, and the Company's 20-F annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom.

Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Teryl Resources Corp.
    John Robertson
    (604) 278-5996 or Toll Free: 1-800-665-4616
    (604) 278-3409 (FAX)