Teuton Resources Corp. (“TUO”, “the Company”) has received several offers to option or purchase its Catspaw property, situated 40 kilometres north-northwest of Stewart , British Columbia . The interest in the property has been generated by the recent announcement of the discovery of high-grade gold and silver mineralization on the Tide property of Serengeti Resources Inc. (“SIR”) and Rimfire Minerals Corporation (“RFM”). The Tide property adjoins directly to the south of the Catspaw.
On Nov. 28, 2004 Serengeti and Rimfire announced assays from two samples of a 0.50 metre wide vein found within the limits of a 600 x 450 metre greater than 90 ppb gold-insoil anomaly. The two samples, located 2 metres apart, assayed 593 g/t (17 oz/ton) gold and 14,708 g/t (429 oz/ton) silver and 360 g/t (10 oz/ton) gold and 7,920 g/t (231 oz/ton) silver. As described, the zone strikes northwest and lies within 500 m of the southern boundary of the Catspaw claim.
Similar quartz-pyrite-arsenopyrite vein-hosted mineralization has been located along trend within the boundaries of the Catspaw claim. In 1990, while the Catspaw was under option to Big. I Developments Ltd., a 2.0 metre sample across a north-west trending vein near the southern boundary assayed 0.223 oz/ton gold and 132.46 oz/ton silver. Teuton currently owns a 100% interest in the property.
The Company has declined to accept any of the option/purchase proposals, including one from Serengeti. However, the Company may eventually decide to farm out the property, contingent upon finalization of plans for 2005 exploration of its proximate Four J’s and Tennyson properties. These latter two properties were originally slated for diamond drilling in 2004, but delays in obtaining a suitable drill resulted in postponement of the programs
ON BEHALF OF THE BOARD OF DIRECTORS
Dino Cremonese, P.Eng.
Teuton Resources Corp
Minvita Enterprises Ltd.
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