Teslin River and Gold Fields Execute Definitive Agreement on

Teslin River and Gold Fields Execute Definitive Agreement on the Rand
Properties, British Columbia 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- Teslin
River Resources Corp. (TSX VENTURE:TLR) ("Teslin" or the "Company")
is pleased to report that it has executed a definitive Option and
Joint Venture Exploration Agreement regarding an option granted to
Gold Fields Horsefly Exploration Corporation (Gold Fields), a member
of the Gold Fields Limited group of companies
(JSE:GFI)(NYSE:GFI)(NASDAQ:GFI)(DUBAI:GFI), to earn up to an 80%
interest in the Rand properties. (See press release dated September
8, 2010). 
Gold Fields can earn an initial 51% interest by expending CAD$1
million in exploration over a three year period ending December 16,
2013, of which, $625,000 must be spent in the first two years ending
December 16, 2012. Gold Fields may earn a further 19% interest by
funding a further $750,000 in exploration over a cumulative 5 year
period ending December 16, 2015. Gold Fields may earn a further and
final 10% by funding a feasibility study or funding an additional
$20,000,000 in expenditures and paying Teslin $400,000. This final
option right has a five year term ending December 16, 2020. Both Gold
Fields and Teslin have a mutual right of first refusal to acquire the
other party's portion of the Rand properties if at any time either
party receives an offer from a third party for their portion of the
Rand properties.  
Commenting on the closure of the Option and Joint Venture Agreement,
John Icke, Teslin's Executive Chairman and Interim President and CEO,
stated: "The Company is delighted that we have been able to finalize
the Agreement. Gold Fields is a world-class company and they are
investing significant exploration dollars in British Columbia. As of
the publication date of this announcement Gold Fields is drilling on
the Rand property." 
About Teslin River Resources Corp. 
Teslin River is an exploration company with interests in Nevada and
British Columbia. The Company focuses on precious metals exploration
with properties currently being explored in both Nevada and British
Columbia. Existing properties include the Frasergold Project and Rand
properties in British Columbia and the Mustang and Morningstar
properties in Nevada. 
John Icke, Executive Chairman and Interim President and CEO 
Forward-Looking Statements 
Statements in this release that are forward-looking statements, are
subject to various risks and uncertainties concerning the specific
factors identified in the Company's periodic filings with Canadian
Securities Regulators. These factors include the inherent risks
involved in the exploration and development of mineral properties,
the uncertainties involved in interpreting drill results and other
exploration data, the potential for delays in exploration or
development activities, the geology, grade and continuity of mineral
deposits, the possibility that future exploration, development or
mining results will not be consistent with the Company's
expectations, accidents, equipment breakdowns, title matters, labor
disputes or other unanticipated difficulties with or interruptions in
production and operations, fluctuating metal prices, the possibility
of project cost overruns or unanticipated costs and expenses,
uncertainties relating to the availability and costs of financing
needed in the future, the inherent uncertainty of production and cost
estimates and the potential for unexpected costs and expenses,
commodity price fluctuations, currency fluctuations, regulatory
restrictions, including environmental regulatory restrictions and
liability, competition, loss of key employees, and other related
risks and uncertainties. The Company undertakes no obligation to
update forward-looking information except as required by applicable
law. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information. 
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Teslin River Resources Corp.
604.684.2990 (FAX)
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