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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