Teryl Resources Corp. (TSX VENTURE: TRC)(OTCBB: TRYLF) wishes to
announce the receipt of the 2010 Gil Joint Venture Annual Report.
The goal of the 2010 Gil program was 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. Drilling began April 12 and concluded on August 16. The
exploration program consisted of 14,977.5 feet of drilling: 27
reverse-circulation (RVC) drill holes, totaling 9,546 feet, and 11
core holes, totaling 5,431.5 feet.
To view Figure 1: Location Map Showing Gil JV Prospects, Claim
Boundaries, District Geology, and the True North and Fort Knox Mine
Sites accompanying this press release, please click on the
following link: http://media3.marketwire.com/docs/trc124.jpg
Previous exploration work has outlined three mineralized areas:
The Main Gil Zone, The North Gil Zone, and Sourdough Ridge. Gold
mineralization within the Gil JV Claim Block has been traced along
the Main Gil Trend for approximately 3,000 feet. In the North Gil
Zone, exploration work has outlined mineralization across a
2,000-foot trend. The 509 Trend, located on Sourdough Ridge, has
been traced along strike for 2,000 feet. Mineralization along the
Northern Calc-silicate unit, located in the northern portion of
Sourdough Ridge, has been traced to the east for 600 feet.
Kinross Gold Corporation (KGC) contracted Metallogeny, Inc.
(MI), a privately owned geological contracting company, to perform
the 2010 drilling program. MI also conducted a ground magnetometer
survey, trench mapping and sampling, metallurgical sampling,
section review, and interpretation for the Gil Project.
A report on the heap leach cyanidation testing on the Gil
project drill core samples, by McClelland Laboratories, was
conducted using three drill core samples. The three Gil samples
were amenable to simulated heap leach cyanidation treatment a 80% -
12.5 mm feed size. Details of the report can be accessed on our web
site www.terylresources.com.
Recommendations for 2011 are to continue stepping out along
mineralized trends, and to utilize exploration data to re-focus
target areas. A systematic trenching program, followed by drilling,
is recommend for: the northeastern extension of the 509 Trend,
specifically, the eastern slope of Lohr Ridge; the Northern
Calc-silicate Unit, and the calc-silicate unit located between the
North Gil and Main Gil areas. Trenches should be oriented
perpendicular to the trend of mineralization and spaced at 200-to
400-foot intervals. The trench program will help focus drill
targets over the excavated area and allowing for more aggressive
step-outs along the specific trends. Trenching will also provide
good access to the target areas. All prep work could be
accomplished in winter months. Drilling in areas susceptible to
muddy conditions could be ready for spring when the ground is still
frozen. Trenching, access trails, and pad construction are
essential for moving forward as drilling progresses along steep
slopes. Completion of extensive surface improvement will be
contingent on permit approvals, and approval of the 2011
budget.
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 NI 43-101. 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 Miners 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
Teryl Resources Corp. is awaiting the Colorado School of Mines
completion of the grade and tonnage model for the Gil J/V
property.
To date, a total of US$10,700,000 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 $10.7 million has been expended on exploration by Kinross and
Teryl on the Gil joint venture claims. 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. Teryl Resources Corp. also has a 30%
interest and a 10% NPI in the Silverknife 1 & 2 property in
Northern B.C. The Silverknife property is contiguous to
Silvercorp's Silvertip silver-lead-zinc deposit which lies less
than one km from the property boundary. For further information
visit the Company's website at www.terylresources.com.
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
604-278-5996 or Toll Free: 1-800-665-4616 604-278-3409 (FAX)
www.terylresources.com
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