Teryl Resources Corp

Since 2003 and even moreso since 2005, Kinross has held back its analyses of resources in the Gil Venture, so for estimates we have to do the best we can from the existing news releases and annual reports. A cross section (2003) of the Main Gil zone is indicative of the shape of resources:

The cross-section full-resolution image, which you can also download, is available at:

http://imgur.com/nQhoc.jpg

The average drill hole was less than 300 feet, although some touched to 600 feet depth and continued to hit gold. The original explorational drilling tended to be shallower in an era of low gold prices where costs ate up more of the gold price, and the deposits are largely considered open at depth.

Guesstimates of gold ounces for only the Main Gil, Gil North and Sourdough zones are as follows below. Nothing has been included for the various other zones mentioned in the previous overview, such as the areas between, and north of Main and North zones, areas west, north and east of the main zones, the parallel zones between Main and Sourdough and east of Sourdough, and the creek drainage-area zones. The figures are very rough-equivalent stand-ins for more accurate ones but will have to do until we get better numbers. Some finer-detailed descriptions of the shapes within the zones has been provided in past material and readers are free to bring that in.

The recoverable ounces will be greater with gold at $1100/oz, rather than the $300/oz and $400/oz gold prices originally used to determine mineable cutoff. Estimates here are made based on the original $400/oz data, and then a rough figure of merit is used to approximate what might happen with $1100 gold (a modest guess of an increase by 1/3, or 33%). Using a specific gravity of 2.6 for the host rock (gneiss and schist) and drawing as best possible from the annual summaries and news reports:

Gil Main (original data at gold $400/oz):
3300 foot strike
60-80 feet thick (platelike and dipping NW)
550-600 foot approx. depth (subject to extension)
1.4 g/t average grade
3300 x 70 x 575ft / 35.9 (ft**3 to m**3) x 2.6t/m**3:: 9.6 mtons ore
9.6 mtons x 1.4 g/t / 31 oz/g = 430,000 oz (gold at $400/oz)

Gil North:
1000 x 500 foot area on surface
150? foot rough approx depth (subject to extension)
1.4 g/t expected average grade
1000 x 500 x 150 ft :: 5.4 mtons ore
5.4 mtons @ 1.4g/t = 240,000oz (gold at $400/oz)

Gil Main and North together:
Main + North total 670,000 oz (gold at $400/oz)
With gold at $1100/oz, possibly increase by 33%: 890,000 oz

Sourdough:
3000-4500 foot strike-equivalent for 3 zones (additional strike north on Kinross land)
60-80 foot rough approx. thickness
450? foot approx. depth
average grade at 2.4 g/t
3750 x 70 x 450ft :: 8.6 mtons (gold at $400/oz)
8.6 mtons @ 2.4 g/t = 660,000oz
With gold at $1100/oz, probably increase by 33%: 880,000 oz

Total at $400 gold price: approx. 1,330,000 ounces
Total at $1100 gold price: roughly 1,770,000 ounces

All of the above figures are subject to revision on better information, and nothing has been included for other Gil prospects, nor of course for prospects yet to be discovered on the Gil properties. The Alaska government mining reports describe the periodic nature of gold resources in the Tintina belt and the zones on the Gil appear to follow that pattern, generally lying along SW-NE trending strikes and roughly parallel to each other W-E, and given that, zones to the east of Sourdough have shown surface indications and may be verified by drilling.

A plan view of drill holes (2003) for the Main and North Gil only gives the general lay of these resources: