News and event information for Williams Lake, BC - as it happens.

Teslin River Resources Corporation is pleased to announce that it has signed a definitive agreement with Eureka Resources to acquire up to a 75% interest in the Frasergold Project, located 100 km east of Williams Lake in the Cariboo area of central British Columbia.

Under the terms of a binding Letter of Understanding, Teslin completed a preliminary soil geochemical program to evaluate the potential of extending the existing historic resource to the southeast. An audit of the historic resource leading to a Preliminary Economic Assessment (PEA) has now commenced and is to be completed during the first quarter of 2012. This work is being done by Roscoe Postle Associates Inc.

"We are very pleased to have completed the agreement with Eureka and are working diligently to complete the evaluation of soil sampling work recently completed at Frasergold," said John Burgess, President and CEO of Teslin. "Frasergold brings a pre-development project into our portfolio to complement our early stage exploration projects."

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 0.30g/t gold. Historical expenditures on the property total $16 million, which include 450 drill holes totaling 50,000 meters and a 300 meter long underground tunnel. The data from these various programs is well-documented. Details of the resource are as follows:

Teslin River is an early stage exploration company with interests in Nevada and British Columbia. The Company intends to focus on precious metals exploration with new properties currently being sought in both Nevada and British Columbia. Existing properties include the newly acquired Mustang and Morningstar projects. The acquisitions and work programs have been led by John R. Kerr P. Eng., who has over 45 years of experience in the mineral exploration industry.

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