July 22, 2015, Victoria, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”- Frankfurt) (“TEUTF”—OTCBB) announces that, further to its news releases of June 5 and July 3, 2015, the Company has paid the Court Bailiff the money that was owing. Accordingly, all of the Company’s mineral tenures have been returned to Teuton.
Teuton has now paid a total of $621,712 in party-and-party costs and $165,000 in special costs to American Creek in regard to costs awarded against it pursuant to the litigation on the Treaty Creek property. A further $47,500 is due August 31, 2015 for costs associated with the appeal of the Treaty Creek litigation.
Prior to the Registrar’s meeting scheduled for July 14 and 15, 2015, the Company and American Creek came to an agreement that an additional $70,000 would be payable in special costs, to be settled by August 31, 2015. If not paid by that date, the sum owing would become $85,000. The sums due August 31, 2015 represent the totality of what remains to be paid in regard to all costs associated with the Treaty Creek litigation.
Respectfully:
“Dino Cremonese, P.Eng.”
President,
Teuton Resources Corp.
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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.
