VANCOUVER, British Columbia,
June 26, 2012 /PRNewswire/ -- Teryl
Resources Corp. (TSX Venture Exchange: TRC.V), (OTCBB: TRYLF)
announces that in accordance with the policies of the TSX Venture
Exchange ("TSX.V"), it intends to make a normal course issuer bid
in respect of its common shares through the facilities of the
TSX.V. It proposes to purchase at market price up to
7,000,000 common shares, being approximately 10% of its public
float over a twelve month period. The bid is subject to regulatory
approval. The actual number of common shares which may be
purchased and the timing of any such purchases will be determined
by the Company in accordance with the requirements of the
TSX.V.
Management of the Company believes that its common shares have
been trading in a price range which does not adequately reflect
their value in relation to the Company's business and its future
business prospects. As a result, depending upon future price
movements and other factors, management believes that its
outstanding common shares may represent an attractive investment
and the cost of acquiring the shares is an expense prudently
incurred by the Company to increase shareholder value.
ABOUT TERYL RESOURCES
Teryl Resources Corp. symbol TRC.V TSX Venture – has several
gold prospects in Alaska near the
Kinross Fort Knox Mine, a 100% interest in the Westridge property
(located near the Fort Knox mine); a 50% option on the Fish Creek
property, adjacent to the Gil property. Teryl sold its 20% interest
in the Gil property Fairbanks,
Alaska, to date $2.5 million
dollars has been received of the $15
million from the 1% NSR of the property, thereafter Teryl
retains a 1/2 of 1% royalty for the life of the mine; a 10%
net profit interest in the Stepovich claims, near the Fort Knox
deposit; and a 40% interest in a silver property located in
Northern B.C. adjacent to Silvercorp's silver lead zinc discovery,
including a 10% NPI. Teryl has a small revenue interest in
three producing oil and gas wells in Texas with Anadarko Petroleum as the operator.
See www.terylresources.com website for more detailed
information.
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
John Robertson
President
Press Release contact information:
John Robertson, President,
Teryl Resources Corp.
T: 800-665-4616
http://www.terylresources.com
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.
SOURCE Teryl Resources Corp.