Teslin River Terminates the Frasergold Project
VANCOUVER, British Columbia--(BUSINESS WIRE)--Teslin River Resources Corp. (TLR:TSX-V) (“Teslin” or the “Company”) in accordance with the termination provisions in its Option Agreement dated November 21, 2011 with Eureka Resources Inc. (“Eureka”) with respect to Eureka’s Frasergold Property (“Frasergold” or the “Property”), has provided written termination notice to Eureka subject to the provisions of Article 10 and Sections 6.03(e), 7.05 and 8.03 of the Agreement and recognizing it has no further rights or interest in the Property and no further obligation or liabilities to Eureka and as such, will return the Property forthwith.
The Board of Directors of Teslin, after a review of the project and prevailing market conditions for the junior exploration sector generally, has determined that the Frasergold opportunity does not satisfy the project criteria for the Company at this time.
About Teslin River Resources Corp.
Teslin River is an exploration company with a focus on precious metals exploration on mineral property interests in British Columbia. Teslin’s mineral properties include the Rand property in British Columbia. Teslin has granted Gold Fields Horsefly Exploration Corporation an option to earn up to an 80% interest in the Rand property.
ON BEHALF OF TESLIN RIVER RESOURCES CORP.
Executive Chairman and Interim President and CEO
For further information please visit www.teslin-river.com or contact us at:
Teslin River Resources Corp.
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