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Teryl Resources Corporation OTCBB: TRYLF TSX-V: TRC

News Releases 2011


January 19, 2011
Teryl Resources Closes Tranche 2 of Private Placement

For Immediate Release: January 19, 2011, Vancouver, BC - Teryl Resources Corp. (TSX Venture Exchange: TRC.V, OTCBB: TRYLF) is pleased to announce that it has received regulatory approval and closed the second and final tranche of a non-brokered private placement announced November 1, 2010. The private placement was oversubscribed by 342,659 Units. The Company has now issued 1,359,333 common share units (the "Units") to complete the second and final tranche. Units were priced at $0.15 per Unit, with each Unit comprised of one common share and one non-transferable share purchase warrant. Each one warrant shall entitle the holder thereof to acquire one additional common share of Teryl, from treasury, at an exercise price of $0.20 per share for a period of one year from the date the Units are issued.

The private placement was closed in two tranches, with the first tranche of 1,983,326 Units for gross proceeds of $297,498.90 having closed December 17, 2010. The second tranche closed today for 1,359,333 Units for gross proceeds of $203,899.95.

In connection with the non-brokered private placement, Teryl has paid finders' fees of $7,087 in cash and 39,000 broker warrants exercisable at $0.20 until January 19, 2012.

All securities to be issued will be subject to a hold period expiring on May 20, 2011 in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws. Other further restrictions may apply under foreign securities laws.

Net proceeds of approximately $203,899.95 from this second tranche of the private placement will be used for current obligations, accounts payable, including intercompany payables and general working capital purposes.

ABOUT TERYL RESOURCES
Teryl Resources Corp. is awaiting the Colorado School of Mines completion of the grade and tonnage model for the Gil J/V property.

To date, a total of US$10,700,000 has been expended by the joint venture partners, with Teryl and Kinross accounting for 20% and 80%, respectively, of total expenditures.

With interests in four gold properties, Teryl Resources Corp. is one of the main landowners in the Fairbanks Mining District, Alaska. The Gil project is a joint venture with Kinross Gold Corporation (TSX: K; NYSE: KGC) (80% Kinross/20% Teryl). To date USD $10.7 million has been expended on exploration by Kinross and Teryl on the Gil joint venture claims. The Company's other Alaska holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTC BB: LNXGF); the Stepovich Claims, where Teryl has a 10% net profit interest from Kinross; and a 100%-interest in the West Ridge property. Teryl Resources Corp. also has a 30% interest and a 10% NPI in the Silverknife 1 & 2 property in Northern B.C. The Silverknife property is contiguous to Silvercorp's Silvertip silver-lead-zinc deposit which lies less than one km from the property boundary. For further information visit the Company's website at http://www.terylresources.com.


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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