VANCOUVER, British Columbia,
May 22, 2013 /PRNewswire/ -- Teryl,
Inc., the U.S. subsidiary of Teryl Resources Corp., (TSX Venture
Exchange: TRC.V, OTCBB: TRYLF) is pleased to announce a placer and
hard rock diamond drilling program has commenced on the Fish Creek
property in the Fairbanks, Alaska
mining district. The drilling contract requires 15 days of
placer diamond drilling at a cost of $1,500 per day, for a 12 hour day. The
drilling is subject to favorable weather conditions. The
operator of the drill will be Kenn
Roberts of Texas, and
Pete Rutledge, project
manager. Teryl's consulting geologist, Paul D. Gray, P.Geo. will oversee the drilling
program, core logging, and assay protocols on behalf of the
Company. Kenn Roberts will
test his in situ Borehole Placer Gold Extraction (IBPGE)
process in the holes where results warrant. All recovered
gold from this program will be Teryl, Inc.'s property to divide
with its partners. Kenn
Roberts, a First Nations from Yukon has multiple years of drilling
experience in remote locations and has served as mineral
development advisor to First Nations.
Mr. Peter Rutledge states, "This
2013 exploration placer drilling program is an addition to the lode
drilling, which has also commenced to test the intrusive targets."
(See news release dated May 14,
2013). Mr. Rutledge further states, "These drill targets
were generated from previous drilling results and from
interpretations performed by geologists whom have conducted work in
the past. The Proposed 2013 drill holes are designed to twin
one historic drill hole combined with stepout and scout drilling
targeting geophysical anomalies. The main objective of the
2013 lode drilling program is interpreted near surface mineralized
zones." Mr. Rutledge further states he, "...has identified
visible placer gold from the 42-47' level from a 2"diameter core
tube sample in the placer drilling just above the bottom of the
first placer drill hole, further results are pending."
Keltic Bryce owns a 50% working interest and Teryl, Inc owns a
50% working interest in the Fish Creek property. Linux Gold Corp.
retains a 5% royalty interest in Teryl, Inc.'s interest.
The Fish Creek property consists of 30 claims adjacent to the
Gil property, currently owned by Kinross Gold Corporation.
The Gil 20% interest, previously owned by Teryl Resources Corp.,
was acquired by Kinross on
December 22, 2011 for $15 million US in a payment of $2.5 million dollars initially and another
payment of $1.5million when in
production with the balance from a 1% royalty. Teryl retains
a ½ of 1% royalty for the life of the mine.
Paul D. Gray, P.Geo., the
Company's consulting geologist has reviewed and approved the
contents of this news release.
ABOUT TERYL RESOURCES
Teryl Resources Corp. symbol TRC.V TSX Venture – has several
gold prospects in Alaska near the
Kinross Fort Knox Mine, a 10% net profit interest in the Stepovich
claims. A 100% interest in the Westridge property and a 50% option
on the Fish Creek property, adjacent to the Gil property. Teryl
sold its 20% interest in the Gil property in Fairbanks, Alaska to Fairbanks Gold Mining
Corp. to date $2.5 million
dollars has been received and an additional $1.5 million payment upon production;
$15 million (less advanced payments)
from the 1% NSR of the property, thereafter Teryl retains a ½ of 1%
royalty for the life of the mine. Teryl owns a 30% working interest
and a 10% NPI interest in the Silverknife property, a
silver/lead/zinc prospect located in Northern B.C. adjacent to
Silvercorp's silver/lead/zinc discovery. 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.
