VANCOUVER, British Columbia,
June 20, 2012 /PRNewswire/
-- Teryl Resources Corp. (TSX Venture Exchange: TRC.V),
(OTCBB: TRYLF) is pleased to announce that gold exploration work
programs are to commence this month on the Company's Westridge
Claims, located in Fairbanks,
Alaska.
Metallogeny, Inc. of Fairbanks,
Alaska has been contracted by Teryl to conduct this mineral
exploration work for the Company
The proposed initial work programs will include:
- Locating and surveying historic drill holes on the ground
within the claim block.
- A reconnaissance drilling program via a small diameter winkie
drill rig.
- Preparing the project for subsequent advanced exploration
drilling, including fixing the access road and locating useable
water sources.
- Conducting a general reconnaissance of the placer potential on
Moose Creek.
- Securing a NQ diamond drill or a reverse circulation drill to
test for lode gold potential.
- A total of 760 metres (2,500 feet) of drilling is planned for
this season.
Dave Adams, a CPG geologist who
has previously worked on the property, will participate in the
initial exploration phase. He will be working in
conjunction with geologist Tara
Hutchison to locate the proposed drill sites on the
property.
Paul D. Gray, P.Geo., is a
qualified person as defined in NI 43-101 and also qualified 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 THE WESTRIDGE PROPERTY
The Westridge Property is a road accessible gold prospect
located in the Fairbanks Mining District of Alaska. Creeks in the area such as Dome, Fox,
Steamboat, and Flume creeks have been mined extensively for placer
gold in the past. Limited past gold exploration in the 1990's
through 2003 indicate shear and intrusive hosted gold
mineralization at the Old Glory Prospect, Black Dome Prospect, East
Anomaly, West Anomaly and the Moose Creek Anomaly within the
Westridge Property. The True North Mine of Fairbanks Gold Mining
Incorporated ("FGMI"), a wholly owned subsidiary of Kinross Gold
Corporation via a 100% ownership of the True North Venture, is
located approximately 3.5 kilometres (two miles) to the northeast
of the Westridge Property.
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
President
Press Release contact information:
John Robertson President,
Teryl Resources Corp.
T: 800-665-4616
Office: 604-278-5996
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.