Teryl Receives Two Preliminary Assessments for Gil JV Property

Teryl Resources (OTC Other: TRYLF; TSX-V: TRC) has has received a preliminary assessment for its Gil Joint Venture Gold Property in Alaska. 

The measured, indicated and inferred resources contained at the Gil/JV gold property, which total 514,916.3 ounces of gold, were determined using a cutoff grade of 0.015 oz Au/ton in order to correspond with the heap-leach ore cutoff grade currently employed at the Fort Knox gold mine.  The purpose of this preliminary assessment was to estimate NPV and IRR at the Gil/JV gold property.

The two assessments made certain assumptions, including the price of gold.  Using $1,500 gold, the NPV of the project using a 10% discount rate was approximately $74.5 million resulting in an IRR of 459%.  Using $1,048 gold, the NPV of the project using a 10% discount rate was approximately $31.3 million resulting in an IRR of 207%.  These figures represent 10o% interest in the Gil property, of which 20% is attributable to Teryl. 

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Teryl Resources Submits Notice of Work at Silverknife

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) has submitted its Notice of Work in support of proposed drill program of up to 1,500 metres at the Company’s B.C. Silverknife property.  The following work has been recommended with a budget of approximately $358,000:

• Phase I (a) – Silverknife data GIS Completion
• Phase I (b) – Core recovery program from previous drilling completed in 1985 & 1987
• Phase I (c) – Property survey / prospecting geological mapping
• Phase I (d) – Detailed geophysical survey
• Phase I (e) – Diamond drilling program 1,000 to 1,500 meters

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Teryl Resources Receives a NI 43-101 Compliant Gil Resources Pre-Feasibility Resource Estimation Report

VANCOUVER, BRITISH COLUMBIA, Mar 08, 2011 (MARKETWIRE via COMTEX News Network)  –  Teryl Resources Corp. (TSX VENTURE: TRC)(OTCBB: TRYLF) (the “Company”) wishes to announce that a pre-feasibility resource estimation for the Gil joint venture property in the Fairbanks, Mining District, Alaska has been received as follows:

Total gold resources at the Gil/JV property for a heap leach scenario are 514,916 ounces of gold contained in 19,856,778 tons of mineralized rock. A cutoff grade for a hypothetical heap leaching operation at the Gil/JV property is expected to be 0.015 oz/ton, which corresponds to the heap leach cutoff grade currently being used at the Fort Knox gold mine. A grade cutoff for material that could be sent to the mill at Fort Knox is 0.0225 oz/ton. Total gold resources at the Gil/JV property for a run-of-mill scenario are 309,304 ounces of gold contained in 8,505,247 tons of mineralized rock. It is important to note that these two estimates are not additive, and instead represent two distinct resource calculations for Gil at two separate cutoff grades.

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Teryl Resources to be Featured on CEO Clips

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) will be featured on CEO Clips, a series of 15 second corporate profiles on Canadian companies.  The clips of Teryl will begin airing on Monday, February 21.

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Teryl Resources Completes 43-101 at Silverknife

Teryl Resources Corp. (OTCBB: TRYLF; TSX-V: TRC) has completed an initial 43-101 compliant report at the Silverknife property in North-Central British Columbia, the purpose of which is to present a review technical report summarizing previous work, reviewing the exploration potential of the property and making recommendations towards future work on the property.

Through a series of agreements, the property is owned as follows: (i) Teryl owns 30% working interest and has a 10% Net Profit Interest (“NPI”); (ii) Minewest owns 70% subject to the 10% NPI held by Teryl; (iii) Reg holds a 5% net profits interest against the whole of the Property; and (iv) a 1% NSR is held against the Property by SMR Investments Ltd.

The Silverknife Property consists two contiguous British Columbia “legacy” (4-post style) mineral claims covering approximately 1,594 acres and is in good standing with respect to British Columbia Minerals Title Act through January 12, 2012.

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Teryl Resources to be Featured on CEO Clips

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) will be featured on CEO Clips airing on Fox Business News beginning today.  The clip will air Monday thru Friday between 5am and 4pm EST and can also be viewed online by clicking here.

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Teryl Resources Receives 2010 Gil Joint Venture Annual Report

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) has received the 2010 Gil Joint Venture Annual Report from its joint venture partner, Kinross Gold  Corp. (NYSE: KGC).  The 2010 drill program consisted of 14,977.5 feet of drilling, including 27 reverse circulation holes totaling 9,546 feet and 11 core holes totaling 5,431.5 feet, the purpose of which was to 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.

Recommendations for 2011 are to continue stepping out along mineralized trends, and to utilize exploration data to re-focus target areas. A systematic trenching program, followed by drilling, is recommend for: the northeastern extension of the 509 Trend, specifically, the eastern slope of Lohr Ridge; the Northern Calc-silicate Unit, and the calc-silicate unit located between the North Gil and Main Gil areas.

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Teryl Resources Increases Net Profit Interest in Silverknife 1 & 2 Properties by 10%

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) has acquired an additional 10% net profit interest in the Silverknife property in exchange for 200,000 shares of it common stock.

The Silverknife Property is contiguous to Silvercorp’s Silvertip silver-lead-zinc deposit which lies less than one (1) km from the Property boundary. Silvercorp has been active in the past two (2) years exploring and re-evaluating the Silvertip Property towards the initiation of mining operations. Recently, Silvercorp opened up a 50 man camp on the Silvertip Property and has announced plans to apply for a Provincial Small Mine Permit for an underground mining operation with a capacity of under 75,000 tonnes per year and all ancillary dewatering and related permits. Exploration diamond drilling from 10,000-20,000 meters is currently underway on the Silvertip Property.

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Teryl Resources Advancing Ore Reserve Estimate at the Gil JV Gold Property

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) continues to make progress with respect to an ore reserve estimate for the Gil join venture gold property in Fairbanks, Alaska.  According to John Robertson, President of Teryl Resources, “Upon completion of the reserve estimate on the Gil joint venture, the Company will be able to better evaluate any potential buyout of its 20% of the Gil joint venture and/or estimate the value of the 20% interest for the shareholders.”

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Teryl Stakes 23 Mineral Claims in the Kahiltna Terrane in Alaska

Teryl Resources (OTCBB: TRYLF; TSX-V: TRC) has staked 23 mineral claims, which are 100% owned by the Company, and are adjacent to the Kiska Metals Corp. mineral claim block.

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