Teslin River Resources Corp.

Teslin River Resources Corp.

August 22, 2011 09:00 ET

Teslin River Announces New Gold/Silver Mineralized Zone Discovered at Mustang Property in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2011) - Teslin River Resources Corp. (TSX VENTURE:TLR) ("Teslin" or the "Company") is pleased to announce the results of a 8 drill-hole Reverse Circulation (RC) drill on the Mustang property located 20 miles southeast of Gabbs, Nye County, Nevada. Results included 7.6 meters of 2.76 grams per tonne gold within 12m of 1.71 grams per tonne gold in M11–06 and 12 meters of 0.75 grams per tonne gold from M11-05. These intercepts indicate the presence of a new precious metal discovery on the property.

The Mustang property is 8 miles southeast of and is within a similar geological terrain as the Paradise Peak mine, which produced 1.5 million ounces of gold and 40 million ounces of silver between 1985 - 2001. "The results of the 2011 drilling program validate our hypothesis of the potential for a Paradise Peak style mineralization" stated John Kerr, Vice President of Exploration for Teslin. The Mustang property comprises 66 claims that are 100 per cent owned by Teslin.

John Burgess, President and CEO of Teslin stated "A follow-up 1000 meter, 8-hole drill program, is currently being planned to test the economic potential of this projected mineralized zone. A preliminary model developed from our 2011 drilling indicates a gold/silver zone 12 – 20 meters thick dipping to the south and east. This zone is open both to the south and west"

Eight drill holes were completed, each to a depth of 200 - 250 meters for a total program of 1800 meters. Four holes were centered around an anomalous 2005 drill hole. The 2005 hole included intersections being 7 meters grading 0.14 g/t gold and 21 meters grading 0.12 g/t gold and 20 g/t silver. Two of the holes were located in the northern portion of the property in the vicinity of small surface outcrops. Samples from the outcrops included assays up to 11.9 g/t gold and 74.1 g/t silver. The final two holes of the eight-hole program were drilled in the southern portion of the property in the area of a highly anomalous surface outcrop.

Sample cuttings from the drilling were collected in compliance with good sampling procedures for RC drill programs. The samples were passed through a rotating splitter, one-eighth being collected in appropriately marked sample bags. The samples were collected at the drill sites by ALS Minerals from Reno, who performed all analytical procedures. All samples were fire-assayed for gold, with selected samples having MS-ICP analysis for 32 elements. Standard reference materials, blank and field duplicate samples were inserted prior to shipment from site to monitor the quality assurance and quality control of the assay data.

A summary table of results of all holes from the 2011 drill program is as follows:

Hole Number Depth Intercept Summary Significant Assays
M11-05: 100 – 112m 12m 0.75g/t gold (inc 4.5m 1.6g/t)
M11-06: 54.5 – 66.7m 12m 1.71g/t gold (inc 7.6m 2.56g/t gold)
M11-07: 25.7 – 33.3m 7.6m 0.18g/t gold
M11-08: 164 – 172m 8m 10g/t silver
M11-09: 0 – 12m 12m 0.13g/t gold
M11-10: 26 – 38m 12m 0.12g/t gold
M11-11: No significant assays
M11-12: No significant assays

About Teslin River Resources Corp.

Teslin River is an early stage exploration company with interests in Nevada and British Columbia. The Company intends to focus on precious metals exploration with new properties currently being sought in both Nevada and British Columbia. Existing properties include the newly acquired Mustang and Morningstar projects. The acquisitions and work programs have been led by John R. Kerr P. Eng., who has 40 years of expertise and experience in Nevada precious metal deposits.

John R. Kerr P. Eng. is a QP pursuant to NI 43-101 and has approved the contents of this release.


John Burgess, President and CEO

For further information on the Company and its projects please visit our web site at: www.teslin-river.com.

Forward-Looking Statements

Statements in this release that are forward-looking statements, are subject to various risks and uncertainties concerning the specific factors identified in the Company's periodic filings with Canadian Securities Regulators. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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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