Teryl Resources Corp. (TSX VENTURE: TRC)(OTCBB: TRYLF) (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.
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
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: 800-665-4616 604-278-3409 (FAX)
www.terylresources.com
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