Teryl Resources Corp. and Linux Gold
Corp. Announce Amended Joint Ventre on
the Fish Creek Claims, Alaska
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For Immediate Release: January 23, 2012
Vancouver, BC - Teryl Resources Corp.
(TSX Venture Exchange: TRC.V, OTCBB:
TRYLF) wishes to announce an amendment
to the joint venture on the Fish Creek
claims. Linux Gold Corp.
("Linux") owns a 50% interest
in 30 claims in Fairbanks, Alaska
called the Fish Creek Claims
Linux and Teryl have agreed to a joint
venture on the Fish Creek Claims in an
agreement dated March 5, 2002 as
amended on November 1, 2002 (together
the "Agreement") and extended on March
5, 2005, March 5, 2007, March 5, 2009,
March 5, 2010 and on March 4, 2011;
-
Teryl agrees to apply $75,000
towards the exploration budget of
$500,000 commitment pursuant to the
March 5, 2002 agreement.
-
Teryl has an option to pay the
expenditures for the Fish Creek
property in cash in lieu of the
exploration costs to Linux
Gold.
-
Linux agrees to extend the said
Fish Creek Claims agreement until
March 5, 2013.
-
This Agreement is subject to
approval by the Regulatory
Bodies.
Teryl Resources Corp. is also pleased
to announce the appointment of Donna
Moroney as Secretary of the
Company.
ABOUT TERYL RESOURCES
Teryl Resources Corp. symbol TRC.V TSX
Venture - has several gold prospects in
Alaska near the Kinross Fort Knox Mine,
a 100% interest in the Westridge
property (located near the Fort Knox
mine); a 50% option on the Fish Creek
property, adjacent to the Gil property.
Teryl retains a ½ of 1% royalty until
$15 million is paid in payments from
the Gil property in Fairbanks, Alaska;
a 10% net profit interest in the
Stepovich claims, near the Fort Knox
deposit; and a 40% interest in a silver
property located in Northern B.C.
adjacent to Silvercorp's silver lead
zinc discovery. Teryl also 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
"John Robertson"
John Robertson, President
Press Release contact information:
John Robertson President, Teryl
Resources Corp.
T: 800-665-4616
http://www.terylresources.com
READER ADVISORY
This news release may contain certain
forward-looking statements, including
management's assessment of future
plans and operations, and capital
expenditures and the timing thereof,
that involve substantial known and
unknown risks and uncertainties,
certain of which are beyond the
Company's control. There can be no
assurance that such statements will
prove accurate, and actual results and
developments are likely to differ, in
some case materially, from those
expressed or implied by the
forward-looking statements contained in
this press release. Readers of this
press release are cautioned not to
place undue reliance on any such
forward-looking statements.
Forward-looking statements contained in
this press release are based on a
number of assumptions that may prove to
be incorrect, including, but not
limited to: timely implementation of
anticipated drilling and exploration
programs; the successful completion of
new development projects, planned
expansions or other projects within the
timelines anticipated; the accuracy of
reserve and resource estimates, if any,
grades, mine life and cash cost
estimates; whether mineral resources
can be developed; title to mineral
properties; financing requirements;
changes in laws, rules and regulations
applicable to Teryl, and changes in how
they are interpreted and enforced,
delays resulting from or inability to
obtain required regulatory approvals
and ability to access sufficient
capital from internal and external
sources, the impact of general economic
conditions in Canada, and the United
States, industry conditions, increased
competition, the lack of availability
of qualified personnel or management,
fluctuations in foreign exchange, stock
market volatility and market valuations
of companies with respect to announced
transactions. The Company's actual
results, performance or achievements
could differ materially from those
expressed in, or implied by, these
forward-looking statements, including
those described in the Company's
Financial Statements, Management
Discussion and Analysis and Material
Change Reports filed with the Canadian
Securities Administrators and available
at www.sedar.com, and the Company's
20-F annual report filed with the
United States Securities and Exchange
Commission at www.sec.gov. Accordingly,
no assurances can be given that any of
the events anticipated by the
forward-looking statements will
transpire or occur, or if any of them
do so, what benefits, including the
amount of proceeds, that the Company
will derive therefrom.
Readers are cautioned that the
foregoing list of factors is not
exhaustive. All subsequent
forward-looking statements, whether
written or oral, attributable to the
Company or persons acting on its behalf
are expressly qualified in their
entirety by these cautionary
statements. Furthermore, the
forward-looking statements contained in
this news release are made as at the
date of this news release and the
Company does not undertake any
obligation to update publicly or to
revise any of the included
forward-looking statements, whether as
a result of new information, future
events or otherwise, except as may be
required by applicable securities
laws.
This news release does not constitute
an offer to sell or a solicitation of
an offer to buy any of the securities
in the United States. The securities of
the Company have not been registered
under the United States Securities Act
of 1933, as amended (the "U.S.
Securities Act") or any state
securities laws and may not be offered
or sold within the United States or to
U.S. Persons unless registered under
the U.S. Securities Act and applicable
state securities laws or an exemption
from such registration is
available.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that
term is defined in the policies of the
TSX Venture Exchange) accepts
responsibility for the adequacy or
accuracy of this release.
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