VANCOUVER, BRITISH COLUMBIA — Teuton Resources Corp. (“Teuton”) (TSX VENTURE:TUO)(FRANKFURT:TFE)(OTCBB:TEUTF) would like to clarify certain statements made in the Company’s August 19, 2014 news release.
In its news release, the Company characterized the Valley of the Kings deposit as the largest, undeveloped high-grade gold deposit in the world. It more properly should have said it was believed to be the largest, undeveloped high grade gold deposit in the world and that the source for this was Pretium Resources, owners of the Valley of the Kings deposit. Pretium further qualifies it as being the largest, undeveloped high grade gold deposit in the world not owned by a major mining company, as they do not have access to all data owned by all majors. Teuton has not verified the accuracy of Pretium’s statement.
The company further reported that the Tuck zone contained gold and anomalous arsenic values associated with intensely sericite altered volcanic rock without attributing a source for these observations. The source is twofold. First, Ed Kruchkowski, P. Geo., geologist, saw a speck of visible gold in one of the approximately 40 samples from the zone that are now being assayed. He also spotted arsenopyrite in many of these samples.
The second source comes from assays from the first pass of ten grab samples taken from the zone in early August. Assays received varied between 0.11 and 2.89 g/t gold averaging 1.01 g/t gold; between 1.5 and 125 ppm silver, averaging 17.7 ppm silver; and, between 76 and 1,779 ppm arsenic, averaging 484 ppm arsenic.
The August 19 news release stated that “The Tuck zone bears a striking resemblance to the gold-bearing zones at Brucejack Lake, namely strong sericite alteration, strong quartz stockwork, strong jarosite staining, anomalous arsenic with gold values and abundant pyrite associated with the gold values, all located within close proximity to the Brucejack fault.” These statements were based upon the work completed by Ed Kruchkowski, P. Geo., at Brucejack Lake from 1973 to 1978. The Company’s QP, D. Cremonese, P.Eng., has been unable to verify the information presented herein by Ed Kruchkowski, P. Geo. on the Brucejack property. This information, as well as the information in the August 19, 2014 news release, is not necessarily indicative of the mineralization on the Tuck zone, High property.
A photo of the Tuck zone and diamond-sawed rocks showing alteration and stockwork from the zone are posted on the Company’s website.
The Company is also pleased to report that drill pad construction is now under way at the Tuck showing and a drill is expected to be mobilized to the property at the end of the week.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng., who, as president, is not independent of the Company. Loring Laboratories of Calgary, an accredited facility, performed the assays reported on in this news release.
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.