Teryl Resources Corp.
OTC Bulletin Board : TRYLF

Teryl Resources Corp.

October 20, 2009 16:27 ET

Teryl Announces Significant Gold Drill Results on the Kinross/Teryl Gil J/V 2009 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 20, 2009) - Teryl Resources Corp. (TSX VENTURE:TRC)(OTCBB:TRYLF) is pleased to announce the current $1.6 million dollar exploration program has completed 15,295 feet of drilling, primarily targeting the joint venture Sourdough Ridge prospect near its Gil deposit. The principal goal of the 2009 program is to further delineate the mineralized zone at Sourdough Ridge. The exploration plan was also designed to complete infill drilling in order to gain a better understanding of the continuity of mineralization to aid in calculating an initial NI 43-101 compliant resources estimate. Teryl Resources believes that preliminary drilling results from the 2009 exploration program have the potential to significantly increase the total gold resource of the Gil deposit area. The 2009 exploration program is an important step in achieving Teryl Resource's goal of developing a producing mine in the Fairbanks Mining District.

Selected Drill Hole Results on Sourdough Ridge for 2009

Hole NumberInterval (feet in depth)Assay Results opt/AuAssay Results gpt/Au
GVR09-51210-6555 feet of 0.0255 feet of 0.68
GVR09-51315-7560 feet of 0.0560 feet of 1.71
and105-12015 feet of 0.0415 feet of 1.36
GVR09-514415-46045 feet of 0.0345 feet of 1.02
GVR09-515170-19020 feet of 0.0620 feet of 2.05
GVR09-518285-32035 feet of 0.0635 feet of 2.05
GVR09-519190-26575 feet of 0.0175 feet of 0.34
and355-39540 feet of 0.0240 feet of 0.68
GVR09-520235-26530 feet of 0.0430 feet of 1.36
GVR09-521220-28565 feet of 0.1065 feet of 3.42
GVR09-5225-7065 feet of 0.0165 feet of 0.34
GVR09-523125-230105 feet of 0.04105 feet of 1.37
GVR09-53415-9075 feet of 0.0975 feet of 3.08
GVR09-540145-250105 feet of 0.14105 feet of 4.79
GVC09-526275-31035 feet of 0.1035 feet of 3.42
GVC09-527175-21540 feet of 0.0540 feet of 1.71
"   "365-38015 feet of 0.0315 feet of 1.02
GVC09-5290-2020 feet of 0.05020 feet of 1.71
"  "40-5010 feet of 0.03210 feet of 1.09
"  "75-11035 feet of 0.1135 feet of 3.77
"  "280-31535 feet of 0.05635 feet of 1.91
GVC09-530105-12520 feet of 0.02620 feet of 0.89
"   "135-14510 feet of 0.03810 feet of 1.30

Kinross Gold (K-TSE), our joint venture partner, is planning on completing a mapping, rock and soil sampling program this year along the eastern portion of the mineralized trend. This effort will be designed to identify additional drill targets. The current drilling along Sourdough Ridge has indicated a mineralized zone at least 1500 feet long which remains open to the east. The Sourdough Ridge zone is adjacent to and east of the Main Gil zone, which is part of the joint venture property. The Main Gil zone has a 2500 foot long mineralized zone with an average of 0.04 ounces gold per ton.

John Robertson states, "Pursuant to our previous 43-101 report completed in 2005 by Curt Freeman, several other exploration targets have been identified but not fully tested on the Gil claims which should increase the potential substantially on the Gil J/V claims."

Qualified Person: Mr. Curtis Freeman, MS, P.Geo., Certified Professional Geologist (#6901), member of the American Institute of Professional Geologists, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.


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 (TSE: 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 test several gold anomolies on the Gil Claims. The Company's other Alaska holdings include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB: 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
    800-665-4616 or 604-278-5996
    604-278-3409 (FAX)