Agreement Reached to Purchase 50% Interest in Del Norte-Midas Property

July 10, 2014, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt)  (“TEUTF”—OTCBB)  announces that it has reached an agreement with Sabina Gold & Silver Corp. (“Sabina”) to purchase Sabina’s 50% interest in the Del Norte-Midas property, located 20 miles east of Stewart, BC.     Teuton currently owns a 50% interest in the Del Norte portion of the property, and a 25% interest in the Midas portion (Silver Grail Resources owns the other 25% of the Midas property).  Sabina originally earned its interest in the Del Norte property by taking an assignment from Lateegra Resources Corp. (now Lateegra Gold Corp.–“Lateegra”) of the latter company’s option to earn a 50% interest in the Del Norte property from Teuton.  Sabina earned its interest in 2007.

Teuton will issue 500,000 shares of its common stock to Sabina and has agreed to grant Sabina a 1% NSR in the property, one-half of which can be repurchased for $1 million.  The buy-back on the NSR is limited to any time prior to completion of a feasibility study.  Teuton has also agreed to compensate Lateegra which had retained some rights under the original assignment from Lateegra to Sabina.   Teuton has granted Lateegra a 1% NSR in the Del Norte property, one-half of which can be repurchased for $500,000.   Lateegra and Silver Grail have both given their consent to the purchase from Sabina.

The agreement is subject to signing of certain closing documents and TSX-V approval.   An announcement will be made when the agreement closes.   After closing, Teuton will own a 100% interest in the Del Norte property and a 75% interest in the Midas property, subject to the NSRs as described above.


“Dino Cremonese, P.Eng.”


Teuton Resources Corp.

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