SOURCE: Tri-Valley Corporation

Tri-Valley Corporation

February 25, 2009 09:00 ET

Tri-Valley Unit Enters Discussions on Its Gold Exploration Projects

BAKERSFIELD, CA--(Marketwire - February 25, 2009) - Tri-Valley Corporation (NYSE Alternext US: TIV) announced that its minerals subsidiary, Select Resources Corporation, has entered into an official stage of information exchange with industry parties to advance its Alaska gold and industrial mineral properties.

High on the list is Select's Shorty Creek gold exploration project which adjoins the property being explored by International Tower Hill (ITH) which recently announced seven million ounces inferred and probable gold reserves.

Select's Shorty Creek claim block, described by a State of Alaska geologist as the best drill ready gold exploration prospect in Alaska, is a 16 square mile position on State of Alaska lands near Livengood, some 70 miles north of Fairbanks on the all year Eliot Highway. Select believes the gold trend established by ITH continues south onto and through its claim block which boasts some of the best geo-chem anomalies identified by both the state and subsequent Select sampling surveys.

Select has also retrieved archived data from an earlier Asarco drilling program on the Shorty Creek property that has intercepts of minable gold grades.

Select Resource's other property, which is nearly three times larger, the 45 square mile Richardson gold exploration project, is some 65 miles south of Fairbanks on the all year Richardson Alaska Highway. Even though Select and other mining companies have conducted numerous geo-chem, trenching, pitting and stream sediment programs, the Richardson District is arguably the most prospective gold exploration district in east-central Alaska, and it remains under-explored. Earlier surveys have found physical gold in samples at 60 locations along a 20 mile swath suggesting the possibility of a huge system underlying the claim block.

"We believe this confidential information exchange is recognition of the real potential in Select's properties. The current price and projected higher prices of gold underscores its historic status as a safe haven for investors in times of economic turmoil and currency fluctuations as well as a hedge against inflation now widely thought to be on the way from extreme fiscal policies of governments around the globe. From our point of view, practically all forecasts converge on the rejuvenation of global growth, especially led by India and China. That growth and its associated increase in commodities demand will trigger higher prices. The only differences are about when, and how to have a property producing as the prices ramp up," said James G. Bush, president of Select.

Bush noted that parties were now also expressing interest in Select's premium calcium carbonate quarry located at Calder Bay on the north end of Prince of Wales Island. The deposit is reputed to be in the top one percent high grade, high white, high bright deposits in the world and is being readied to return to operation status. Located at tidewater, the deposit has full facilities including ship loading facilities.

"We are convinced the nation will move back toward basic industry and return to the production of physical products of sound value and global appeal. Tri-Valley and Select provide an avenue for investors to access quality projects at bargain prices in commodities that will enjoy considerable upside as demand returns," said F. Lynn Blystone, chief executive officer of Tri-Valley and Select.

Blystone noted that especially strengthening gold prices is adding share value for Tri-Valley and he fully expects the Company's other significant assets in oil and gas to increasingly contribute to further building of share value as well.

Tri-Valley has been in business as a successful operating company since 1963, and has been a full reporting 12 (g) publicly traded Delaware Corporation since 1972. Tri-Valley Corporation stock is publicly traded on the New York Stock Exchange Alternext US under the symbol "TIV." Our company website, which includes all SEC filings, is www.tri-valleycorp.com.

This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended September 30, 2008, and the annual report on Form 10-K for the year ended December 31, 2007.

Contact Information

  • Contact:
    Egan Gost
    Director of Public and Investor Relations
    1-800-579-9314