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VANCOUVER, British Columbia,
Feb. 13, 2013 /PRNewswire/ -- Teryl Resources Corp. (TSX Venture Exchange: TRC.V, OTCBB: TRYLF) announces the following company progress for 2013:
Westridge Gold Property:
A geological report is being prepared on the Westridge gold property, by
Dave Adams, a qualified geologist located in Alaska. The report will be recommending an additional work program and reviewing previous exploration completed to date.
The Westridge property is near the Fort Knox Mine in the Fairbanks Mining district, The Fort Knox producing gold mine is owned by Fairbanks Gold Mining Company, a subsidiary of Kinross Gold Corp.
Teryl owns 100% interest in the Westridge claims.
Fish Creek Property
Teryl Resources Corp. has received the budget for a reverse circulation drill program from Metallogeny, Inc., general contractor in
Alaska, consisting of placer and lode drilling to identify targets, on the Fish Creek property this spring.
The Company has staked additional claims adjacent to the Fish Creek Property for access purposes, and received a permit for placer and lode drilling.
The claims are adjacent to the Gil property currently being explored by
British Columbia, these claims are adjacent to the Silvertip silver, lead, zinc mine currently owned by Silver Corp. Metals. A mill is planned by Silvercorp one kilometer from the Silverknife claims.
A drill program for 1,000 meters is recommended to drill known targets identified by previous drilling and exploration work including geophysical targets.
An updated 43-101 report is currently being prepared by
Paul Gray our qualified geologist.
ABOUT TERYL RESOURCES
Teryl Resources Corp. symbol TRC.V TSX Venture – has several gold prospects in
Alaska near the Kinross Fort Knox Mine, a 10% net profit interest in the Stepovich claims. A 100% interest in the Westridge property and a 50% option on the Fish Creek property, adjacent to the Gil property. Teryl sold its 20% interest in the Gil property in
Fairbanks, Alaska to Fairbanks Gold Mining Corp. to date
$2.5 million dollars has been received and an additional
$1.5 million payment upon production;
$15 million (less advanced payments) from the 1% NSR of the property, thereafter Teryl retains a ½ of 1% royalty for the life of the mine. Teryl owns a 30% working interest and a 10% NPI interest in the Silverknife property, a silver/lead/zinc prospect located in Northern B.C. adjacent to Silvercorp's silver/lead/zinc discovery. Teryl has a small revenue interest in three producing 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