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VANCOUVER, British Columbia,
May 14, 2013 /PRNewswire/ -- Teryl, Inc., a subsidiary of Teryl Resources Corp., (TSX Venture Exchange: TRC.V, OTCBB: TRYLF) is pleased to announce a contract has been signed with Metallogeny, Inc., of
Fairbanks, Alaska, to drill six holes to test an intrusive target, on the Fish Creek property, located in the
Fairbanks mining district.
Peter Rutledge, geologist, will be the consultant for Teryl, Inc. for this project.
Paul D. Gray, P.Geo., is the qualified person as defined in NI 43-101 and also qualified under the rules stated by the U.S. Securities Commission ("SEC").
Keltic Bryce owns a 50% working interest and Teryl, Inc owns a 50% working interest in the Fish Creek property. Linux Gold Corp. retains a 5% royalty interest in Teryl, Inc.'s interest.
The Fish Creek property consists of 30 claims adjacent to the Gil property, currently owned by Kinross Gold Corporation. The Gil 20% interest, previously owned by Teryl Resources Corp., was acquired by
December 22, 2011 for
$15 million US in a payment of
$2.5 million dollars initially and another payment of
$1.5million when in production with the balance from a 1% royalty. Teryl retains a ½ of 1% royalty for the life of the mine.
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