Teryl Resources Corp. Announces Drilling Program to Commence on Its Fish Creek Property in Alaska
Posted on: Friday, 25 January 2008, 18:00 CST
Teryl Resources Corp. (TSX VENTURE:TRC)(Pink Sheets:TRYLF) is currently arranging a drill program on the Fish Creek claims in Alaska to test several gold geophysical anomalies. The geophysical survey was completed by Fugro Airborne Survey, Inc. under contract to Fairbanks Gold Mining / Kinross Gold, which has identified six main gold targets on the Fish Creek prospect. The Fish Creek claims are adjacent to Teryl's Gil joint venture claims with Kinross Gold Corp. The Gil joint venture claims are located near the Fort Knox mill, which is the largest producing gold mine in Alaska. Teryl is anticipating an exploration program this year on the Gil joint venture subject to an approved budget. The Fish Creek claims are joint ventured with Linux Gold Corp. wherein Teryl can earn a 50% interest by expending $500,000.
ABOUT TERYL RESOURCES CORP.
Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX:K)(NYSE:KGC). The Company's holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTCBB:LNXGF). Linux Gold Corp. owns 1.2 million shares of Teryl Resources Corp. Additionally; Teryl Resources Corp. has a 10% net profit interest from Kinross for the Stepovich Claims. The Company also has a 100%-interest in the West Ridge property.
Teryl Resources Corp. has an agreement on seven patented claim blocks, consisting of 248 acres and has acquired a state lease on an additional 601.74 acres, in the Warren Mining District, Cochise County, Arizona. The seven patented claim blocks are called the Gold Hill prospect, which includes the old Gold Hill mines. The Gold Hill copper, gold, and silver property is four miles west of the Lavender Pit mine, one of the richest copper mines in history, owned by Phelps Dodge Corporation, which has produced 92.6 million tons of ore from 1954 to 1974.
Teryl Resources Corp. also has one joint venture silver prospect located in Northern BC, Canada.
Teryl Resources Corp. has revenue from oil and gas projects in Texas and Kentucky. For further information visit the Company's website at http://www.terylresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
John Robertson
President
Contact:
John Robertson
800-665-4616
Press Release contact information:
For further information, please contact:
Renmark Financial Communications
Dan Symons : dsymons@renmarkfinancial.com
John Boidman : jboidman@renmarkfinancial.com
T: (514) 939-3989
F : (514) 939-3717
www.renmarkfinancial.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.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Source: Business Wire
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