Mr. John Burgess of Teslin reports
TESLIN RIVER SIGNS BINDING LOI TO ACQUIRE 1.8 MILLION OUNCE GOLD PROPERTY FROM EUREKA RESOURCES
Teslin River Resources Corp. and Eureka Resources Inc. have signed a binding letter of intent (LOI) for Teslin to acquire the 1.8-million-ounce Frasergold project, located 100 kilometres east of Williams Lake in the Cariboo area of central British Columbia. The Frasergold project is approximately 50 km east of Teslin's Rand properties where the company has signed an option agreement with Gold Fields Ltd.
The Frasergold project has a prior NI 43-101-compliant resource completed in November, 2009, "Report on the 2007 and 2008 Drill Programs on the Frasergold Project," prepared by K.V. Campbell and G.H. Giroux for Hawthorne Gold Corp., of 614,000 ounces of gold measured and indicated, and 1,225,000 ounces of gold inferred at a cut-off of 0.30 gram per tonne gold. Historical expenditures on the property total $16-million to date. These include 450 drill holes totalling 50,000 metres and a 300-metre-long underground tunnel. The data from these various programs are well documented. Full details
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