Oct. 25, 2011, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”) and Silver Grail Resources Ltd. (“SVG”) are pleased to announce that assays have been received for the 102 one-ton lots comprising the 2011 bulk sample from the Clone property, situated 12 miles southeast of Stewart, British Columbia. The average for the 102 tons is 4.0 oz/ton gold or 137.1 g/t gold.
Metallurgical tests are currently under way which will examine cyanide, flotation and gravity means for winning the gold from the ore. Once the optimum method has been determined, the bulk sample will be shipped to a suitable mill for processing.
This year’s bulk sample contains 408 ounces of gold, which when added to the 68 ounces collected in the 2010 bulk sample (34 tons at 2.0 oz/ton gold), amounts to 476 ounces in total. Gross value at the current gold price of $1,701 per ounce is $809,600.
The Clone property is jointly owned by Teuton and Silver Grail, and is currently under option to Canasia Industries Inc. (“CAJ”). It is anticipated that Canasia will earn its 50% interest in the claims either this year or next, after which further work will proceed as a joint venture.
Dino Cremonese, P.Eng., is the Qualified Person for the purposes of this news release.
“Dino Cremonese, P.Eng.”
D. Cremonese, P.Eng.
Silver Grail Resources Ltd.
Teuton Resources Corp.
If you would like to be added to Teuton’s news distribution list, please send your email address to firstname.lastname@example.org.
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. has an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.