Teuton Resources Enters Into New Option Agreements on the Delta, High North, Fairweather and Orion Properties in the Golden Triangle
TSX VENTURE: TUO
September 4, 2018 / TheNewswire / Teuton Resources Corp. ("Teuton" or "the Company") ("TUO"-TSX-V) ("TUC"- Frankfurt) is pleased to report that it has completed new option agreements with Tudor Gold Corp. in respect of the Delta, High North, Fairweather and Orion properties.
The new agreements are nearly identical to the old ones, except that instead of receiving cash for certain of the payments that were due, Teuton will be receiving an equivalent amount of shares of Tudor Gold at $0.30 per share, subject to TSX Venture Exchange approval. Subsequent share and cash payments are the same as what was stipulated in the old agreements.
Teuton prospecting crews have been exploring and taking samples from two of the four properties. On the Orion claim, the crew discovered a series of large massive pyrite boulders (see pictures below) which are believed to be exhalative in origin. Source of the boulders has not been found although it is believed they have not come far because of their angular nature. In another location, abundant native sulfur was discovered along with what seems to be a small stream with a coating of gypsum along its course, suggesting former hot spring activity. Several new mineral occurrences have been sampled including some with arsenopyrite veinlets (previously discovered zones with arsenopyrite veinlets on the property have been gold-bearing). Assays are expected in about 6 to 8 weeks.
The Orion property has been marked by tremendous ablation (glacial meltback) in the past four years which is opening large tracts of land to the prospector's pick for the first time.
D. Cremonese, P.Eng., is Teuton's Qualified Person for the purposes of this news release. As president, Mr. Cremonese is not independent of the Company.
Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwestern British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. Twelve of its properties are currently under option and cash proceeds from these options are just under $2 million since 2015, not including the value of shares received from the optioning companies. Shareholders and other interested parties can access information about Teuton at the Company's website, www.teuton.com.
"Dino Cremonese, P.Eng."
President, Teuton Resources Corp.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Teuton Resources Corp. does have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.