BAKERSFIELD, Calif., Nov. 22 /PRNewswire-FirstCall/ -- Select Resources Corporation, a wholly owned subsidiary of Tri-Valley Corporation (AMEX:TIV) has concluded a preliminary analysis of data from its summer, 2005 soil geochemical program on the Typhoon Property in Yukon Territory, Canada. The soil geochemical data indicate a multi-element anomaly with characteristics commonly associated with intrusive related gold systems present in the Tintina Gold Province of Alaska and Yukon Territory. The property position has been greatly expanded to provide additional land control around the anomalous area.
The Typhoon Property is held under an agreement with Curlew Lake Resources, Inc. The property is located about 60 miles southeast of Dawson City, Y.T., in the Clear Creek District. It is accessible by a gravel road from the paved North Klondike Highway between Dawson City and Whitehorse.
The 2005 program included a soil geochemical survey over part of the property, with samples collected on a grid with a nominal spacing of 50 meters by 200 meters. Approximately 400 samples were collected and analyzed for gold and 41 other elements by ALS Chemex of Vancouver. Soil geochemistry displays an anomalous gold, arsenic, antimony, and bismuth signature consistent with intrusive gold related systems.
Magnetic measurements were also collected within the sample grid. The results were not sufficiently definitive to assist in interpreting the mineralization system and will require evaluation and field investigation in the 2006 season.
Select's President, Harold Noyes, stated, "Our team has done an excellent job in processing the soil geochemical data from the Typhoon Property. While the absolute metal values are relatively modest, the spatial association of these elements is clearly consistent with relationships commonly found with intrusive gold systems in the Tintina Gold Province of Yukon and Alaska. We believe the anomaly has merit and deserves further investigation next field season, especially since the surrounding Clear Creek District hosts intrusive- related gold mineralization. The excellent road access to the area will allow substantial flexibility in evaluating the area next spring and summer. Furthermore, we believe the results warrant expanding our land position in this historic gold mining area, and through a contractor we have staked additional ground on all sides of the claim group." The original claim group of 36 claims has been expanded by 62 claims, to 98 claims, more than doubling the amount of land held in the area to approximately 4,400 acres.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements which includes such words and phrases as exploratory, wildcat, prospect, speculates, unproved, prospective, very large, expect, potential, etc. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in the company's quarterly report on Form 10-Q for the quarter ended September 30, 2005, and the annual report on Form 10-K for the year ended December 31, 2004.
Headquartered in Bakersfield, California, the Company is in its 43rd year of business as a successful operating company and for 32 years has been a full reporting 12 (g) publicly traded Delaware Corporation. Tri-Valley Corporation stock is publicly traded on the American Stock Exchange under the symbol "TIV" in the United States and is also traded in Europe on the Frankfurt Stock Exchange under the symbol "TVC WKN 911919." Our company websites, which include all SEC filings, are http://www.tri-valleycorp.com/ and http://www.tri-valley.de/.
CONTACT:
DR. HAROLD J. NOYES, PRESIDENT
SELECT RESOURCES CORPORATION
800-579-9314
DATASOURCE: Tri-Valley Corporation CONTACT: Dr. Harold J. Noyes, President of Select Resources Corporation, +1-800-579-9314 Web site: http://www.tri-valley.de/ Web site: http://www.tri-valleycorp.com/
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