Teuton Resources Corp. Joint Venture Partner and Optionee Updates:
Harry Property, Del Norte Property and Treaty Creek Project, Golden Triangle, British ColumbiaVancouver, May 2, 2024 - Teuton Resources Corp. ("Teuton" or "the Company") (TSXV:TUO) (Frankfurt:TFE) has served a termination notice on Blackwolf Copper and Gold ('Blackwolf") in regard to the option agreement between Blackwolf's subsidiary (Optimum Ventures) and Teuton on the Harry property located north of Stewart, BC. The notice was served because of a failure to meet certain material obligations of the agreement.
Teuton's Del Norte property, located east of Stewart, BC, is currently under option to Decade Resources ("Decade"). Decade on April 16, 2024 announced results of a sampling program conducted over steep terrain located at the crest of the ridge separating Del Norte and Nelson Creeks. The area is described as being underlain by an oxidized, porphyritic diorite intrusive, accompanied by an extensive quartz-sericite-pyrite alteration halo. Twenty-nine grab samples taken during the program returned values from trace to 30.9 g/t gold. The results are to be followed up in 2024.
Photo of the sericite alteration zone, below
More details on the program are available in Decade's news release dated April 16, 2024 on file with Sedar+.
Treaty Creek Property:
Teuton is pleased to announce that project operator and Joint Venture ("JV") partner Tudor Gold ("Tudor") has filed a technical report (the "Report") concerning an updated Mineral Resource Estimate on the Goldstorm Deposit (the "MRE" or "2024 Treaty Creek MRE") at the JV's flagship Treaty Creek Project (the "Project") located in the Golden Triangle region of British Columbia. The Report is entitled "NI 43-101 Technical Report, Treaty Creek Project, British Columbia", with an effective date of April 5, 2024 and was prepared for Tudor Gold by Garth Kirkham Geosystems and JDS Energy & Mining Inc. ("JDS"). The Report is available under the Tudor's profile on SEDAR at www.sedar.com or from the Tudor's website at www.tudor-gold.com. Teuton retains a 20% carried interest in the joint venture, as well as a 0.98% NSR in the Goldstorm deposit area.
Tudor put out a news release on April 8, 2024 announcing the filing of the Report, which was based on technical information previously released in a Mineral Resource Estimate dated Feb. 20, 2024. Teuton issued a detailed report at the same time, Feb. 20, 2024, and interested readers can reference it on Sedar+ under Teuton Resources or on the Company website, www.teuton.com.
Qualified Persons
E. Kruchkowski, P. Geo. is the Qualified Person for technical information in regard to work done on the Del Norte Property as presented in Decade's news release of April 16, 2024. D. Cremonese, P. Eng. is the Qualified Person for Teuton Resources (as President of the Company he is not independent of the Company). Technical information presented in Teuton's news release of today's date is consistent with technical information in Decade's news release dated April 16, 2024.
About Teuton
Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwest British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past 8 years, has provided Teuton with substantial income.
On Behalf of the Board of Directors of Teuton Resources:
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes
Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the 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.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
