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TERYL RESOURCES CORP./AMAX GOLD INC. JOINT-VENTURE PROSPECT STRIKES GOLD ON ALASKAN PROPERTY

 VANCOUVER, British Columbia, Nov. 18 /PRNewswire/ -- Teryl Resources Corp. (Vancouver: TRC) announced that assays from the Hot Lips prospect on the Gilmore Dome Claims located near Fairbanks, Alaska, have been received from Fairbanks Gold Inc. (96-percent owned by Amax Gold Inc. (NYSE: AU)), Teryl's joint-venture partner. The best results from three of the four holes are as follows:
 Gil Ex-93-5 Intersected 45' 0.033 OPT gold from 5' to 50'. This
 hole was drilled to a depth of 242'.
 Gil Ex-93-6 Intersected 25' 0.026 OPT gold from 5' to 30'. This
 hole was drilled to a depth of 110'.
 Gil Ex-93-6A Intersected 35' 0.046 OPT gold from 40' to 75'. This
 hole was drilled to a depth of 176'.
 The Hot Lips prospect is one of two anomalies identified by Fairbanks Gold Inc. in 1992. The second anomaly has yet to be drilled.
 The new gold discovery is adjacent to the Fort Knox Deposit which is reported to contain 4 million ounces of gold at a grade of 0.03 OPT gold. The Fort Knox Deposit is currently being prepared for production by Amax Gold Inc.
 Teryl Resources Corp. has a joint-venture agreement with Fairbanks Gold Inc. wherein Fairbanks Gold can earn an 80-percent interest by expending $600,000 U.S. on the Gil claims by Dec. 31, 1993. Teryl Resources Corp. will retain a 20-percent interest.
 -0- 11/18/93
 /CONTACT: Lydia Lowe of Teryl Resources, (U.S.) 1-800-665-4616, or 604-278-5119 or 604-278-4455/
 (AU TRC.)


CO: Teryl Resources Corp.; Fairbanks Gold Inc.; Amax Gold Inc. ST: British Columbia, Alaska IN: MNG SU:

ML -- DE002 -- 6014 11/18/93 12:10 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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