June 15, 2015, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) (“TEUTF”—OTCBB) is pleased to announce its plans for summer fieldwork on its properties in the Stewart region of northwest British Columbia, part of the Golden Triangle.
The weather in Stewart has been exceptionally sunny over the past forty days, promising an early start for the 2015 field season. Snowpack is low for this time of the year and ablation (meltback of ice) is continuing, suggesting that more virgin areas will be freshly exposed in the coming months.
The Company reports that it has received offers for purchase and/or option of its interests in the King Tut, High North, Tuck, Delta, Fairweather, Del Norte and Treaty Creek properties. Counteroffers have been made to certain of the offers and negotiations are ongoing. An announcement will be made on the conclusion of any deal.
Current plans are to continue exploration of the Company’s Stewart area mineral claims, particularly those located due south of Seabridge Gold’s KSM property and Pretium Resources’ Brucejack property (the Company’s wholly-owned King Tut, Tuck, Delta, Fairweather, High North and Orion properties). A significant new area of interest is in the northeast corner of the King Tut claim, made prospective by Pretium’s recent announcement showing the previously unknown mineralized zone, the “Nip”, located only 250m to the east of the King Tut/Pretium claims boundary line (see map and inset map for details, URL for map is at the end of this release).
The main thrust of this proposed work will be within the 2km corridor postulated by Jeff Kyba, BC government geologist, on either side of the “red line” on the attached map. The significance of this red line, marking the contact between Triassic and Jurassic age rocks, was explained in a prior news release dated May 13, 2015. A second red line corridor to the southwest is also to be investigated. Interested readers can refer to the “Sulphurets and the Red Line” presentation on the company’s website for further details (see link at bottom of this release).
Any 2015 exploration work will be contingent upon the substantial completion of the May 29, 2015 financing and subsequent repatriation of the Company’s seized mineral claims, as announced in the news release dated June 5, 2015. Sale or option of any of the Company’s properties, except for its stake in the Treaty Creek property, is also contingent on the above. Once completed, funds for exploration could come through some combination of the sale of one or more of the Company’s properties, option agreements, or a flow-through financing.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng. Mr. Cremonese is the President of Teuton and as such is not independent of the Company.
“Dino Cremonese, P.Eng.”
Teuton Resources Corp.
URL for Sulphurets/Nip Zone map:
URL for Sulphurets/Red Line Presentation:
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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.