FAIRBANKS, Alaska, Aug. 4, 2004 (PRIMEZONE) -- Teryl Resources Corp. (TSX Venture Exchange:TRC) (Pink Sheets:TRYLF) and Linux Gold Corp. (OTCBB:LNXGF) are pleased to announce that drilling is to commence on the Fish Creek intrusive target to test the lithology and to analyze for concentrations of precious/base metals. The Company will also drill 25 vertical eight inch diameter holes on two lines to explore the potential Fish Creek placer gold paystreak, to test two anomalies located last year by a magnetic survey (see Teryl Resources Corp. news release dated July 12, 2004 for details).
On 13 July, 2004, 20 auger holes were drilled on Odden Creek, near a suspected buried intrusive, to collect samples of the "C" soil horizon and underlying bedrock. The goal of this limited program was to identify soils anomalous in pathfinder elements indicative of precious metal lodes related to the Fort Knox intrusive-hosted, disseminated gold deposit and to identify drill targets for more detailed exploration. The Kinross Fort Knox deposit resulted in the discovery of 4 million ounces of gold at a grade of 0.03 opt (au).
Of the twenty holes completed, eleven reached the C-horizon and of these, eight penetrated the underlying bedrock: one in felsic intrusive, one in graphitic slate and the remainder in quartz muscovite schist. Four of the remaining holes terminated at the maximum 7 1/2 feet without reaching the C-horizon and the other five encountered frozen soils at 2 feet below the surface.
Several clustered holes (04A001, -002 & -003) on the west side of Odden Creek, including the one penetrating the intrusive, are anomalous in silver, lead, arsenic, and bismuth. These are important indicator elements for the Fort Knox intrusive-hosted gold deposit. Additionally, the one hole (04A010) penetrating graphitic slate is anomalous in zinc, arsenic, iron, sulfur and tungsten, possibly indicating a sulfide deposit.
ABOUT TERYL RESOURCES CORP.
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 (80% Kinross/20% Teryl) with Kinross Gold Corporation (TSX Venture Exchange:K) (NYSE:KGC). The Company's holdings also include the Fish Creek Claims, 50% optioned from Linux Gold Corp. (OTCBB:LNXGF), and the Stepovich Claims, which Teryl has a 10% net profit interest from Kinross. The Company also has a 100% interest in the West Ridge property, and has obtained a mining lease on the adjoining Fox Creek Claims in Alaska. Teryl Resources Corp. also has one joint venture silver prospect located in Northern BC, Canada. For further information visit the Company's website at http://www.terylresources.com.
ABOUT LINUX GOLD CORP.
Linux Gold Corp. holds an option to purchase all the issued and outstanding shares of the private company that holds an 85% interest in a co-operative joint venture company that has the exclusive mineral exploration rights for the Bo Luo Nuo Gold Mine covering an area of 161 square kilometres in Hebei Province, People's Republic of China.
Linux Gold Corp. also has an option on a 100% interest in two gold prospects in the Bralorne Gold mining area located in British Columbia, Canada near the Bralorne Pioneer Mine. The Bralorne Pioneer Mine has produced over 4.1 million ounces of gold during the life of the mine. Linux Gold Corp. also owns a 50% interest in 30 mineral claims known as the Fish Creek Prospect, located in the Fairbanks Mining Division in Alaska. Linux Gold Corp. optioned to Teryl Resources Corp. (TRC-V) a 50% interest in the Fish Creek claims by expending US$500,000 over three years. Linux Gold Corp. retains a 5% net smelter return or may convert into a 25% working interest. The Kinross Fort Knox mill is within 6 miles from the Fish Creek claims. For more information please visit www.linuxgoldcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS "John Robertson" John Robertson President
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
Statements in this press release regarding Teryl's and Linux's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.