Dallas, Texas (August 9, 2011) – StockGuru Shines its Spotlight on Teryl Resources Corp. (TSX VENTURE: TRC) (OTCBB: TRYLF) (the “Company”) upon the notice that the Company wishes to retract its news release dated August 3, 2011 and is issuing this release with the intent that it supersede and replace the prior release. The Company closed down twelve percent on August 8, 2011, at $0.094, trading in a fifty-two week range of $0.1926 – 0.0763.
Teryl Resources Corp. is pleased to announce that a drilling program is planned this season on the Company’s Westridge Property, subject to adequate financing, to test several anomalous gold targets. The Westridge claims are 35 kilometres (22 miles), by road, north of Fairbanks, Alaska and lies 3.2 kilometres (2 miles) south of the True North Prospect, which was previously purchased by Kinross for 96 million dollars of shares and cash and is reported to host 1.3 million ounces of gold with a grade of 0.072 ounces of gold per ton.
Previous announced exploration results (See September 29, 2004 News Release) from the Westridge Property include:
Rock and soil sampling conducted approximately 1,600 meters west of the Old Glory prospect where the Company discovered significant gold mineralization in 2003 (see News Release dated April 28, 2004). Exploration in the newly discovered area was prompted by past soil sampling conducted by Amax Gold that indicated anomalous gold and arsenic in soils on the ridgeline between Moose Creek #1 and Moose Creek #2. Initial sampling consisted of 14 soil samples and 20 rock samples collected from hand-dug pits.
One of two areas selected for this work returned soil samples containing gold values ranging from trace up to 848 ppb with elevated arsenic and antimony values. Gold, arsenic and antimony values were consistently higher in soil samples collected over granodiorite intrusive host rocks suggesting a possible genetic association between the intrusive rocks and gold mineralization. Rock samples collected from the same hand-dug pits where soil samples were collected returned gold values ranging from trace up to 4,350 ppb (4.3 gpt or 0.127 opt). Gold was associated with anomalous arsenic and antimony and was hosted by iron oxide stained quartz-bearing intrusives and quartz-mica schist of the Fairbanks Schist. The extent of the mineralization is open to expansion beyond the areas sampled to date in 2004.
Based on the positive results from preliminary sampling, additional soil and rock is warranted with the goal of defining future drilling targets for this part of the Westridge property.
All geochemical samples were analyzed by ALS Chemex for gold via fire assay techniques plus a multi-element suite via ICP methods with four-acid digestion. Blanks submitted with reconnaissance samples suggest no unusual or spurious geochemical results.
Qualified Person: Mr. Curtis Freeman, MS, P.Geo., Certified Professional Geologist (#6901), member of the American Institute of Professional Geologists, was the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of the September 29, 2004 news release reported above.
Two distinct gold-in-soil anomalies, the East and West Anomalies, were located on the Westridge property in 1999 by a Bombardier auger soil sample program and reverse circulation drilling program. The West anomaly covers an area of approximately 1,220 metres (4,000 feet) NW-SE by 914 metres (3,000 feet) NE–SW and is defined by coincident gold and arsenic-in-soils results. The East anomaly extends along a general northeast trend for 2,230 metres (7,000 feet) and represents values from trace up to 1.64 ppm Au in soil.
Previous drilling has resulted in significant gold intersected with values up to 6 metres (20 feet) of gold grading 0.93 grams Au (0.033 opt Au).
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 Commission (“SEC”), and has verified the data contained in this news release for accuracy.
ABOUT TERYL RESOURCES
Teryl Resources Corp. (TSX VENTURE:TRC) has several gold prospects in Alaska near the Kinross Fort Knox Mine, including a 20% interest in the Gil property, and one silver property located in Northern B.C. adjacent to Silvercorp’s silver lead zinc discovery. Teryl also has a small revenue interest in 3 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
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.
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