Teryl Resources Corp.
TSX VENTURE : TRC
OTC Bulletin Board : TRYLF

Teryl Resources Corp.

October 19, 2010 09:01 ET

Teryl Resources Receives Summary of Gold Assay Results on the Gil Joint Venture Property, in Alaska, for 2010R 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2010) - Teryl Resources Corp. (TSX VENTURE:TRC)(OTCBB:TRYLF) (the "Company") is pleased to announce that our joint venture partner, Fairbanks Gold Mining, Inc. (FGMI), a subsidiary of Kinross Gold Corporation, reported drill results for 2010 as follows:

Hole Number Interval
(feet in depth)
Assay Results
opt Au
Assay Results
gpt Au
GVR10-551 235 - 285 50 feet of 0.0458 1.57
GVR10-551 360 - 390 30 feet of .0383 1.31
GVR10-552 200 - 230 30 feet of 0.0581 1.99
GVR10-557 40 - 80 40 feet of 0.0434 1.52
GVR10-558 0 - 45 45 feet of 0.0427 1.46

North Gil

Hole Number Interval
(feet in depth)
Assay Results
opt Au
Assay Results
gpt Au
GVR10-573 10 – 35 25 feet of 0.0489 1.676
GVR10-573 250 - 285 35 feet of 0.0418 1.523
GVR10-568 420 - 455 35 feet of 0.0788 2.670
GVR10-569 145 - 195 50 feet of .0363 1.244

Sourdough

Hole Number Interval
(feet in depth)
Assay Results
opt Au
Assay Results
gpt Au
GVR10-560 195 - 220 25 feet of 0.0508 1.742
GVR10-560 285 - 295 10 feet of 0.0322 1.104
GVR10-560 320 - 330 10 feet of 0.0171 0.586
GVR10-560 340 - 375 35 feet of 0.0121 0.415
       
GVR10-561 20 - 35 15 feet of 0.0175 0.599
GVR10-561 45 - 70 25 feet of 0.01 0.343
       
GVR10-563 145 - 170 25 feet of 0.03 1.029
GVC10-590 450 - 485 35 feet of 0.023 0.789
GVR10-595 60 - 100 40 feet of 0.0224* 0.837
GVR10-599 165 - 180 15 feet of 0.0321 1.101
 
Note: opt refers to ounces per short ton and gpt refers to grams per metric tonne. One troy ounce is equal to 34.2857 grams per metric tonne.
*including 5 feet of .119 opt

The following objectives for 2010 were accomplished pursuant to the 2010 budget plan:

  1. Ground magnetometer survey.

  2. Drilling at Sourdough Ridge.

  3. Drilling on the western portion of area between Main Gil and North Gil.

The goal of the 2010 program is to further delineate the strike extension of the mineralized zones, and to infill between step-out holes, in order to gain a better understanding of ore-zone continuity. The 2010 workplan calls for ground geophysics, 11,000 feet of RC drilling, and 5,000 feet of HQ-NQ core drilling. In addition, fieldwork involving mapping, soil and rock sampling, and mobile metal ion (MMI) geochemical sampling will be performed.

John Robertson, President of Teryl Resources Corp., states, "Mark Robinson, our Certified Professional Geologist, is currently preparing a 3D model and feasibility study on the Gil joint venture. The 3D model should be available by the end of October, in the preliminary format."

To view the map associated with this release, please visit: http://media3.marketwire.com/docs/trc-map.pdf.

Qualified Person

Mark S. Robinson, P. Geo., State of Alaska Licensed Geologist No. 247 of Wrangell, Alaska, who is independent of the Company as defined in NI43-101. Mark Robinson is a Certified Professional Geologist (CPG) 6414 with the American Institute of Professional Geologists (AIPG). Other professional societies and certifications include: Society of Economic Geologists (SEG) fellow since 1985; American Geological Institute (AGI); and Alaska Miner's Association (AMA). Mark Robinson is a Qualified Person as defined in NI 43-101 and also qualifies under the rules stated by the U.S. Securities and Exchange Commission ("SEC"), and has verified the data contained in this news release for accuracy. 

ABOUT TERYL RESOURCES

To date, a total of US$9,000,000 has been expended by the joint venture partners, with Teryl and Kinross accounting for 20% and 80%, respectively, of total expenditures.

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 $9 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. A USD$1.5 million budget has been approved for 2010. The Company's other Alaska holdings also 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.

ON BEHALF OF THE BOARD OF DIRECTORS

John Robertson, President

READER ADVISORY

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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