Teuton Resources Corp. (“Teuton”) (“TUO”:TSX–V; “TFE”-Frankfurt) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”–TSX-V; “KD7”-Frankurt) are pleased to announce that drilling has begun on their jointly-owned Fiji property, located 30 km southeast of Stewart, BC. The drill program will target two areas that returned high-grade gold values during sampling in 2006 (see Company News Release dated Jan. 22, 2007 for further details).
The target areas lie close to the common boundary between the Fiji property (to the west) and the Homestake Ridge property of Bravo Ventures Group Inc. (to the east). Bravo Ventures is currently carrying out a 9,000 metre drill program aimed at expanding an inferred mineral resource containing 903,000 ounces of gold and 5.75 million ounces of silver in its Homestake Zone. This NI43-101 compliant inferred resource, as announced by Bravo Ventures on April 16, 2007, comprises 11,914,000 tonnes grading 2.36 g/t gold and 15.0 g/t silver at a 0.5 g/t gold cut-off.
One of the Fiji target zones is underlain by highly altered intrusive rocks featuring fracture controlled pyrite and sphalerite, the other by altered volcanic rocks mineralized with barite, pyrite, sphalerite, galena and tetrahedrite.
A drill purchased earlier in the year by Teuton will be used for the Fiji property.
D. Cremonese, P.Eng. is the Qualified Person for both Silver Grail and Teuton in regard to technical information contained in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
SILVER GRAIL RESOURCES LTD.
TEUTON RESOURCES CORP.
“Dino Cremonese, P.Eng.”
Dino Cremonese, P.Eng.
President
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. Silver Grail Resource Ltd. And Teuton Resources Corp. do 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.
