TYLER RESOURCES INC.
TSX VENTURE : TYS

TYLER RESOURCES INC.

May 23, 2006 18:46 ET

CORRECTION FROM SOURCE: Tyler Announces Results for 10 Additional Drill Holes

CALGARY, ALBERTA--(CCNMatthews - May 23, 2006) -

In the release issued today at 17:29ET there was an error. In the table titled "Significant intervals for drill holes DDH-BAH 66, 70, 71 and 73 (Goat Zone)" under the Mo(%) column and including row of BAH-66, the number should have read 0.022 not 0.22. The revised and complete version follows.

Including 1.55% Copper, 18.9 g/t Silver and 0.45% Zinc Over 21.34 Meters and 1.66% Copper, 0.25 g/t Gold, 13.3 g/t Silver and 0.49% Zinc Over 12.25 Meters in Main Zone.

Tyler Resources Inc. (TSX VENTURE:TYS) is pleased to announce assay results for 5 diamond drill holes and 5 RC ("Reverse Circulation") holes for its Bahuerachi project, Mexico.

Drill holes BAH-68 and RC #25 to 29 took place within the Main Zone and tested zones of mineralization where further data was required in preparation for modeling purposes in the upcoming resource estimate study. All of these holes intercepted their intended targets, except for RC 27 and 28 which stopped in fractured marble due to unstable ground conditions and therefore did not test their high grade skarn target at depth.

Drill holes BAH-66, 70, 71 and 73 were part of a grid drilling program to test for zones of mineralization in the southern porphyry lobe (Goat Zone, see map). All the drill holes encountered weak to moderate copper, molybdenum, and silver mineralization confirming that the southern porphyry lobe has potential to host near surface, bulk tonnage copper-molybdenum-silver targets that could add value to Main Zone Porphyry-skarn system currently being tested.

Results are presented in the following tables and discussed below. Sections for all Main Zone drill holes as reported will be updated shortly and posted with the news release on our website at www.tylerresources.com. Drill hole collar locations are shown on the attached drill plan map.

Main Zone drilling (core/RC drilling).



Significant intervals for drill holes RC 25, 26, 27, 28, 29 and
DDH BAH-68

------------------------------------------------------------------------
Hole # From (m) To (m) Interval (m) Copper (%) Gold (g/t)
------------------------------------------------------------------------
RC#25 0 88.41 88.41 0.67 0.06
------------------------------------------------------------------------
Including 65.55 86.89 21.34 1.55 0.08
------------------------------------------------------------------------
RC #26 0 99.09 99.09 0.58 0.03
------------------------------------------------------------------------
including 45.73 57.93 12.2 1.45 0.07
------------------------------------------------------------------------
RC#27
------------------------------------------------------------------------
RC#28
------------------------------------------------------------------------
RC#29 24.32 34.96 10.64 1.23 0.16
------------------------------------------------------------------------
and 85.12 95.76 10.64 0.40 0.04
------------------------------------------------------------------------

------------------------------------------------------------------------
BAH-68 154.75 227 56.20(1) 0.66 0.11
------------------------------------------------------------------------
including 191.75 204 12.25 1.66 0.25
------------------------------------------------------------------------

------------------------------------------------------------------------
Hole # Silver (g/t) Zinc (%) Mo (%) Rock Type
------------------------------------------------------------------------
Marble, skarn,
minor
RC#25 10.7 0.26 0.005 porphyry
------------------------------------------------------------------------
Including 18.9 0.45 0.01 Skarn
------------------------------------------------------------------------
Marble, skarn,
minor
RC #26 6.8 0.22 0.01 porphyry
------------------------------------------------------------------------
including 13.9 0.88 0.009 Skarn
------------------------------------------------------------------------
Failed to
RC#27 reach target
------------------------------------------------------------------------
RC#28 Failed to
reach target
------------------------------------------------------------------------
RC#29 20.9 0.62 trace Skarn
------------------------------------------------------------------------
Skarn/
and 11.1 trace trace sediments
------------------------------------------------------------------------

------------------------------------------------------------------------
Skarn/
BAH-68 6.9 0.14 0.03 minor QFP
------------------------------------------------------------------------
including 13.3 0.49 0.001 Skarn
------------------------------------------------------------------------

(1) Excludes 16.05 meters of unmineralized dyke.


RC holes #25 and 26 were drilled from a single pad at -60 and -45 degree angles to the east respectively. Both holes were drilled on section 345N to test shallow high grade skarn on the east side of the section. The intervals reported are interpreted true widths.

RC holes #27 and 28 were drilled from a single pad to infill test near-surface high grade skarn on section 225N. Both holes were lost in highly fractured and brecciated marble before reaching the skarn target, however drill hole RC 28 showed increased metal values in the last 16.72 meters of the hole before it had to be abandoned (124.64 meters to 141.36 meters totaled 16.72 meters grading 0.32% copper, 0.03 g/t gold, 5.5 g/t silver and 0.17% zinc).

RC hole #29 was drilled at a -50 angle to the east and tested shallow skarn mineralization.

Drill hole BAH-68 was a core hole drilled at an angle of -80 to the east and designed to test and define the dip of the west dipping fault bounding the mineralized system to the west on section 3 NE, as well as test for oxide and skarn mineralization on the edge of the porphyry complex. The fault was intercepted at a depth of approximately 150 meters, and skarn mineralization with minor mineralized porphyry was intercepted from 154.75 meters to the end of the drill hole at 225 meters. A small post mineralized intrusion was present cutting the mineralized skarn interval from 175.70 to 191.75 meters. Interpreted true width are 90% of quoted intervals for these sections.

Results from drilling to date continue to confirm that the porphyry complex and related skarn system carries mineralization with open pit style potential on sections tested. Drilling in the Main Zone now continues to the north, towards the north porphyry lobe. Results for completed drill holes #67, 69, 75, 76, 77, 79 and RC holes 30, 31, 32, 33, 34, 35 are currently outstanding. Drilling is continuing with RC#36 and diamond drill holes 78 and 81.

Southern Porphyry/Goat Zone

Results for 4 additional diamond drill holes totaling 1,024 meters have now been received from a wide grid of first pass drilling in the southern lobe of porphyry called the Goat Zone. These holes tested a band on the eastern margin of a wide porphyry lobe over approximately 400 meters of strike length. All drill holes have encountered variably mineralized porphyry with local spot values as high as 1.35% copper (DDH-66) and locally high molybdenum (to 0.16%, DDH-73) within wider, low grade intervals as quoted below.



Significant intervals for drill holes DDH-BAH 66, 70, 71 and 73
(Goat Zone).

------------------------------------------------------------------------
Hole # From (m) To (m) Interval (m) Copper (%) Gold (g/t)
------------------------------------------------------------------------
BAH-66 16 27.25 11.25 0.34 0.01
------------------------------------------------------------------------
and 59 76.9 17.9 0.17 trace
------------------------------------------------------------------------
and 105 167.3 62.3 0.17 trace
------------------------------------------------------------------------
including 105 129 24 0.34 trace
------------------------------------------------------------------------
BAH-70 25.2 65 39.8 0.36 0.03
------------------------------------------------------------------------
and 81.8 114 32.2 0.25 trace
------------------------------------------------------------------------
and 123.1 137 13.9 0.37 0.01
------------------------------------------------------------------------
BAH-71 2.3 63.5 61.2(1) 0.20 trace
------------------------------------------------------------------------
and 100 121.6 21.6 0.20 trace
------------------------------------------------------------------------
and 150.5 193 42.5 0.23 trace
------------------------------------------------------------------------
BAH-73 6 20 14 0.15 trace
------------------------------------------------------------------------
and 131 161 30 0.14 trace
------------------------------------------------------------------------


------------------------------------------------------------------------
Hole # Silver (g/t) Zinc (%) Mo (%) Rock Type
------------------------------------------------------------------------
BAH-66 5.9 - 0.008 Porphyry
------------------------------------------------------------------------
and 1.5 - 0.004 Porphyry
------------------------------------------------------------------------
and 2.2 - 0.021 Porphyry
------------------------------------------------------------------------
including 4.1 - 0.022 Porphyry
------------------------------------------------------------------------
BAH-70 2.7 - 0.007 Porphyry
------------------------------------------------------------------------
and 2.8 - 0.006 Porphyry
------------------------------------------------------------------------
and 3.9 - 0.023 Porphyry
------------------------------------------------------------------------
BAH-71 3.1 - trace Porphyry
------------------------------------------------------------------------
and 2.7 - trace Porphyry
------------------------------------------------------------------------
and 3.0 - 0.015 Porphyry
------------------------------------------------------------------------
BAH-73 3.4 - 0.005 Porphyry
------------------------------------------------------------------------
and 2.5 - 0.026 Porphyry
------------------------------------------------------------------------

(1) Interval includes 11 meters of post mineral dykes.
(2) True widths are generally interpreted to be between 50 to 70% of
quoted intervals depending on drill hole angles.


First pass testing of the southern porphyry lobe in the Goat Zone has demonstrated the presence of widespread copper, silver and molybdenum mineralization. Mineralization at the Goat Zone is lower grade than in other porphyry bodies being tested to the north, however, the widespread nature of mineralization and generally higher molybdenum grades suggests potential for a low grade, bulk tonnage type resource that could be accretive in value to the one currently being developed in the Main Zone. Management is encouraged at these early stage results that continue to highlight the large extent of mineralization within the Main Zone porphyry systems. Results for drill hole #72 of the Goat Zone first pass testing remain outstanding at this time.

Drilling Update

A total of 3,816 meters were drilled in April of this year (2,681 meters core and 1,135 meters RC), continuing to advance the program at a rapid pace.

North Skarn Drilling

The first two drill holes in the North Skarn target have been completed and sent to the laboratory for assay. Drilling is continuing on this target with drill hole #82, the third planned hole of a minimum of 5 drill holes for a minimum combined 1,000 meters of drilling at the North Skarn Target.

Other

The Company is pleased to report that it has found a suitable contractor and geological modeler for its upcoming resource estimate study. Data compilation and modeling are expected to begin shortly, pending finalization of the contracts with the independent contractors who will be responsible for carrying out Tyler's first independent resource estimate based on its ongoing drilling program at Bahuerachi.

In accordance with the requirements of the tax ruling received by CDG Investments Inc. pursuant to its recent reorganization, CDG tendered a total of 400,000 Warrants at a price of $1.75 back to Tyler for immediate cancellation.

About Tyler

Tyler Resources is a junior exploration company focused on base and precious metals exploration in Mexico. Tyler's primary project is the Bahuerachi property which hosts a large mineralized porphyry-skarn copper (Au, Ag, Mo, Zn) complex. The company is well financed and is in the early part of a 35,000 meter combined diamond and reverse circulation drilling program currently scheduled to be completed during 2006, making it one of the most active Canadian junior exploration companies operating in Mexico.

All assay work was performed by ICP at ALS-Chemex labs of Vancouver, with gold done using standard fire assay methods. All samples sent to the lab are sealed with security tags for delivery to ALS-Chemex. Duplicate samples as well as standards and blanks are inserted in each batch of samples delivered to the laboratory and then checked to ensure proper quality assurance and quality control (QA/QC).

The Qualified Person responsible for the design and implementation of the Field Program as well as the preparation of this news release was J. P. Jutras, P.Geol., and President of the Company. The work program is being carried out with the participation of Dr. Shane William Ebert, Ph.D, P.Geo, Vice President and Director, Dustin Rainey, B.Sc Geology, Grant Couture, B.Sc., M.Sc Geology and Cornell McDowell, B.Sc Geology, consultants to the Company.

"Jean Pierre Jutras"

Jean Pierre Jutras, President, CEO and Director

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects","projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Tyler's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Tyler. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Tyler's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Tyler's filings with the Canadian securities authorities. Accordingly, holders of Tyler shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Tyler disclaims any responsibility to update these forward-looking statements.

There are maps available on CCNMatthews' website at: http://www.ccnmatthews.com/docs/TylerMap2.pdf


The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information

  • Tyler Resources Inc.
    Jean Pierre Jutras
    President, CEO and Director
    (403) 269-6753
    Website: www.tylerresources.com
    or
    Breakthrough Financial Marketing Inc.
    Chevonne Miller
    Investor Relations
    1-403-269-7676 or 1-866-269-7676
    Email: miller@breakthrough.ab.ca