By Alan Fein

(AXcess News) New York - Shares of Teryl Resources (TSX.V: TRC, OTCBB: TRYLF) )spiked early Tuesday morning following news of an access road being completed on its Kinross Gold (NYSE: KRC) Gil joint venture property.  Investors pushed Teryl's shares higher in anticipation of a more expansive development budget for 2010 as gold prices soar to record high levels.

The new 3000 foot access road extends along the Sourdough Ridge Zone where previous drilling indicted strong gold deposits worth exploring before the budget for the road's development was approved by J/V operator, Fairbanks Gold Mining Inc., a subsidiary of Kinross Gold.  To date, $9.5 million has been expended exploring the gold claims held by Teryl Resources.  The Gil property and Sour Dough Ridge are within miles of Kinross' Fort Knox mine where the first heap leaching operation approved in Alaska has been put into place to generate higher gold processes on Kinross' Fort Knox mine property before the mine itself is depleted.

Teryl was featured in an AXcess News story in late October in which Teryl Resources President John Robertson said he was "very pleased with the drill results on the Sourdough Ridge prospect", while disclosing that Kinross Gold would be extending the access road which has now been completed.

In that story it was noted that Kinross Gold's CEO Tye Burt had said in a Denver mining conference earlier in October that gold resources worldwide were becoming depleted and that more would need to be done to replace those properties.  Yet earlier in May an Alaska Journal Magazine story quoted Arne Bakke, chief exploration geologist at Fort Knox in saying, "We have a variety of targets, from early stage to definition drilling next to the mine along the Fort Knox trend."  Berke had told Alaska Journal that of the $10 million expended in Alaska $8 million was on the Fort Knox property and $2.5 million on other areas.  Yet what Berke didn't say is that Teryl was the recipient.

Teryl Resources shares were trading up more than 6.8%, or 0.015, at $0.235 in midday trading in Toronto Tuesday.

November gold futures were flat at $1100, though Monday gold prices set new record highs of $1111.70 per ounce in New York trading as the dollar weighted index slipped below 75, its lowest level in months.  Teryl closed up 1.5% on Monday.