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:
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Interval Assay Results Assay Results
Hole Number (feet in depth) opt Au gpt Au
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GVR10-551 235 - 285 50 feet of 0.0458 1.57
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GVR10-551 360 - 390 30 feet of .0383 1.31
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GVR10-552 200 - 230 30 feet of 0.0581 1.99
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GVR10-557 40 - 80 40 feet of 0.0434 1.52
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GVR10-558 0 - 45 45 feet of 0.0427 1.46
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North Gil
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Interval Assay Results Assay Results
Hole Number (feet in depth) opt Au gpt Au
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GVR10-573 10 - 35 25 feet of 0.0489 1.676
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GVR10-573 250 - 285 35 feet of 0.0418 1.523
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GVR10-568 420 - 455 35 feet of 0.0788 2.670
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GVR10-569 145 - 195 50 feet of .0363 1.244
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Sourdough
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Interval Assay Results Assay Results
Hole Number (feet in depth) opt Au gpt Au
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GVR10-560 195 - 220 25 feet of 0.0508 1.742
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GVR10-560 285 - 295 10 feet of 0.0322 1.104
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GVR10-560 320 - 330 10 feet of 0.0171 0.586
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GVR10-560 340 - 375 35 feet of 0.0121 0.415
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GVR10-561 20 - 35 15 feet of 0.0175 0.599
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GVR10-561 45 - 70 25 feet of 0.01 0.343
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GVR10-563 145 - 170 25 feet of 0.03 1.029
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GVC10-590 450 - 485 35 feet of 0.023 0.789
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GVR10-595 60 - 100 40 feet of 0.0224(i) 0.837
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GVR10-599 165 - 180 15 feet of 0.0321 1.101
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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.
(i)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.
Contacts: Teryl Resources Corp. John Robertson President
800-665-4616 604-278-3409 (FAX) www.terylresources.com
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