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Teryl Resources Corporation OTCBB: TRYLF TSX-V: TRC

Company Profile

updated March 2012

 

Teryl Resources Corp. is a junior precious metals exploration company listed on the TSX Venture Exchange (TRC.V) and the OTCBB (TRLF). Teryl holds interests in Gold & Silver properties in Alaska and Northern British Columbia, Canada.

Teryl is an accomplished explorer with a track record of exploration, development and marketing their properties profitably to majors. Most recently (NR Dec.14, 2011) Teryl concluded the sale of its remaining 20% interest in the Gil property, Fairbanks Alaska, to its joint venture partner, Kinross, for $15,000,000 from 1% of the NSR then ½ of 1% NSR for the life of the Mine.

Going Forward
Properties Map Teryl announced March 2, 2012 Drilling Permit Applications to drill 5 holes on its Westridge Property in the Fairbanks Mining District, Fairbanks Alaska. The Westridge Property is a road accessible Gold property situate due south of Kinross' True North gold deposit. Gold disposition in the area appears to be controlled by a series of NW/SE fault systems such as the Eldorado fault.

The Eldorado fault, which cuts through the West Ridge property, is the best documented of these district scale northeast structures and appears to control both the Ryan Lode (2.4 million ounces) and the True North.


PROPERTIES/PROJECTS

  • West Ridge Claims, Fairbanks Mining District, Alaska Teryl earned a 100% in the West Ridge mineral claims, comprising approximately 5,200 acres, located in the Dome Creek area of the Fairbanks district of Alaska, which claims are subject to a 1% net smelter return to the State of Alaska. The West Ridge property adjoins Kinross Gold Corp's True North gold deposit and lies approximately eight miles northwest of the producing Fort Knox gold mine. $250,000 drill program to commence approximately June 2012

  • Fish Creek Claims, Fairbanks Mining District, Alaska In March 2002, we acquired from Linux Gold Corp., a company with common directors, an option to earn a 50% interest in the thirty Fish Creek claims, located in the Fairbanks Mining District in Alaska, by expending $500,000 US within three years and the issuance of 200,000 common shares, which shares were issued in December 2002. An additional 100,000 shares were issued in February 2007 in payment for an extension of the date on which expenditures were required to be completed to March 5, 2007, which dates was extended to March 5, 2012. Linux Gold Corp. will retain a 5% net royalty interest until we pay $2,000,000 US and/or back in for a 25% working interest prior to commencement of production. Drill program planned for mid 2012

  • Silverknife Property, Laird Mining Division, B.C., Canada On March 21, 2012, Teryl Resources Corp. released news regarding the Silverknife claims permit application. The exploration program for this summer is for $360,000 consisting of diamond drilling of the discovery zone. Up to 29 ounces of Silver and 17% lead zinc were discovered between 1983-1985.

    Pursuant to agreements with Reg Technologies Inc. ("Reg"), SMR Investments Ltd. ("SMR"), Rapitan Resources Inc. ("Rapitan"), and Chevron Minerals Ltd. ("Chevron"), Teryl acquired a 30% working interest and a 10% net profit royalty from Rapitan in the Silverknife mineral claims, situated in the Liard Mining Division in the Province of British Columbia. Subject to a 1%Net Smelter Return to SMR.

  • Gil Claims, Fairbanks Mining District, Alaska Effective December 19, 2012 Teryl closed an Asset Purchase Agreement to sell all of its remaining 20% interest in the Gil Venture property to Fairbanks. In accordance with the terms of the deal, Fairbanks grants to the Company a production royalty equal to 1% of net smelter returns on all production from the property up to $15,000,000, after which the royalty is equal to 0.5% of the net smelter returns on all production from the property. At closing Fairbanks paid the Company US$2,500,000 as an advance payment of the production royalty. An additional advance payment of royalty of US$1,500,000 will be paid to the Company upon commencement of commercial production from a mine constructed on the property.

  • Fayette and Burleson Counties, Texas We own a 6.5% working interest (4.680% net revenue interest) in the Peters No. 1 Well, in Fayette County, Texas, and a 7.5% working interest (5.79375% net revenue interest) in each of the C-S #1, Jancik #2 and Herrmann #4 wells, located in Burleson County, Texas. During the six months ended November 30, 2011, revenues of $14,050 were recorded from the Texas properties compared to revenues of $17,880 for the same period of 2011. The carrying cost of these wells has been completely depleted.



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