Teryl Resources – JV with Kinross 6 miles from Fort Knox Mine

JV with Kinross 6 miles from Fort Knox Mine

Tue, May 5, 2009

Overview

Teryl Resources Corp. is one of the main holders of gold mining properties in Alaska’s Fairbanks Mining Division with significant land holdings around and adjacent to Kinross’ Fort Knox Mine, the largest producing gold mine in Alaska. The properties include the Gil project, which is a joint venture with Kinross Gold(80%) and Teryl(20%), the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB: LNXGF), and the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross. The Company also has a 100%-interest in the West Ridge property.

What We Like about Teryl Resources!

6 miles from 50,000 tpd Fort Knox Gold Mine
Joint Venture with Kinross
Higher grade than Fort Knox
Defined resource with potential for more
$1.6M Drill program in 2009
Advanced project and motivated partner

Property Summaries

Gil Joint Venture

Teryl owns 20% interest and Kinross Gold owns 80% interest in the Gil Claims
Adjacent to Kinross’s Fort Knox Gold mine – Alaska’s largest open pit mine producing over 1,000 oz. of gold per day
ADVANCED PROJECT – Previously drilled extensively with significant assay results
Developed infrastructure already in place
US$1,644,000 2009 budget has been approved by joint venture partner Fairbanks Gold Mining, Inc., a subsidiary of Kinross Gold Corporation.
US$7,500,000 has been expended on the GIL Joint Venture (80% Kinross/20% Teryl)

2009 GIL J/V DRILL PROGRAM OVERVIEW
The objective of the 2009 work program on the Gil Joint Venture in Fairbanks, Alaska, is to drill 16,000 ft to locate additional resources on the GIL J/V. The work will be managed and conducted by Fairbanks Gold Mining Inc./Kinross Gold.

The 2009 Gil Project Exploration Program has the following goals:

Ground magnetometer survey concentrating on Sourdough Ridge.
Delineate mineralized zones and establish a resource base at Sourdough Ridge.
Expand resource at North Gil.
10,000 feet of RC drilling and 6,000 feet of HQ-NQ core drilling

Drillhole collar locations will be selected upon completion of the geophysical survey. In addition, samples will be collected for a preliminary column leach study.

Other Alaska Properties

Teryl is one of the main property owners in the Fairbanks Mining Division around and adjacent to Kinross’ producing Fort Knox Mine and True North property. In addition to the Gil property, Teryl’s other Alaskan properties include the West Ridge, Fish Creek and Stepovich properties.

The West Ridge property (100% owned by Teryl) contains two gold zones (”East” and “West” anomalies). Both anomalies contain elevated gold in soil, the West mineralization being associated with high levels of arsenic and antimony similar to the chemistry of gold mineralization found at Kinross’ True North deposit (616,000 ounces of gold at 0.046 ounces per ton gold). To date, Teryl and Kinross have spent about $350,000 on the exploration of the West Ridge property.

The Fish Creek Property (50% owned by Teryl by option) is located adjacent to the north of the Company’s Gil Property. Elevated gold values, identified in an auger drill program, suggest the property may contain an extension of the mineralized zone found on the Gil property.

The Stepovich property is owned 100% by Kinross subject to a 10% net profit interest owned by Teryl. The property is adjacent to the Fort Knox gold deposit and could be readily available for production to feed the Fort Knox Mill.

The Company believes its properties in Alaska could contain significant deposits of ore similar to that found at Fort Knox and True North. These deposits, once defined, could be readily put into production and processed at Kinross’ Fort Knox mill.

Management

John Robertson – President and Director. Mr. Robertson has been President, CEO, Chairman of the Board and Director of Teryl Resources since 1982. He has an extensive background in the mining sector, also serving as president of Linux Gold Corp., the Company’s joint venture partner at Fish Creek. He is president, as well, of REGI U.S., Inc./Reg Technologies, a technology company developing an innovative rotary engine for military, automotive and other power applications. Robertson brings an extensive business, mining and marketing background to Teryl Resources.
Jennifer Lorette – Vice-President and Director. Ms. Lorette has been Vice President of Teryl since 1997. Ms. Lorette is also a Director and Vice-President of REGI U.S., a Director of Reg Technologies, Inc., Vice-President and Secretary of IAS Communications, Inc. and is a Director and Vice-President of LinuxWizardry Systems, Inc.
Susanne Robertson – Director. Ms. Robertson has been a director of Teryl since September 1990. She is also the owner of SMR Investments, Ltd., a private company incorporated in 1979 that has assisted in consulting and raising funds for several public companies. She has also worked in various positions for the Royal Bank of Canada.

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Media Links

Interview with Teryl Geologist Curt Freeman
Teryl Covered in The KonLin Letter
Teryl Covered by Bull & Bear

Share Information

Share Structure

Shares Outstanding:

Options:

Warrants:

Fully Diluted:

Stock Exchange:

49,587,528

1,815,000

2,715,000

54,117,528

TSX-V: TRC

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