TERYL RESOURCES ANNOUNCES APPROVAL OF US$1.5MM 2010 EXPLORATION BUDGET FOR THE GIL JV GOLD CLAIMS BY KINROSS GOLD
February 2, 2010. Vancouver, BC - Teryl Resources Corp. (TSX Venture Exchange: TRC.V, OTCBB: TRYLF) is pleased to announce a US$1,524,600 2010 budget has been approved by our joint venture partner Fairbanks Gold Mining, Inc. (FGMI), a subsidiary of Kinross Gold Corporation, on the Gil joint venture claims, as follows:
The 2010 Gil Project Exploration Program has three objectives:
1. Ground magnetometer survey.
2. Drilling at Sourdough Ridge.
3. Drilling on the western portion of area between the Main Gil and the North Gil.
The goal of the 2010 program is to further delineate the strike extension of the mineralized zones, and to infill between step-out holes, in order to gain a better understanding of ore-zone continuity. The 2010 work plan calls for ground geophysics, 11,000 feet of RC drilling, and 5,000 feet of HQ-NQ core drilling. In addition, fieldwork involving mapping, soil and rock sampling, and mobile metal ion (MMI) geochemical sampling will be performed.
The program will begin in April and will extend through the end of 2010.
To date, a total of US$9,000,000 has been expended by the joint venture partners, with Teryl and Kinross accounting for 20% and 80% respectively of total expenditures.
ABOUT TERYL RESOURCES
With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX: K; NYSE: KGC) (80% Kinross/20% Teryl). To date USD $9 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. A USD$1.6 million budget has been completed for 2009 to draft test several gold anomolies on the Gil Claims. The Company’s other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB: LNXGF); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl also has one joint venture silver prospect located in Northern BC, Canada. For further information visit the Company’s website at http://www.terylresources.com.
