Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) is pleased to announce that it has farmed out its Stamp claims, located in the Stewart region of northwestern British Columbia, to Decade Resources Ltd.
The Stamp claims adjoin south of the BA property of Mountain Boy Minerals and Great Bear Uranium Corp., and lie within a dacite/rhyolite unit that has been followed for up to 12 kilometres. Based on previous exploration work this unit has been traced south into the Stamp claims.
Great Bear Uranium recently announced its intention to spend $5.3 million exploring the BA project in 2010. The BA mineralization is interpreted as lying within the same stratrigraphic horizon which hosts the Eskay Creek mine. The host rocks are part of the upper Hazelton group of the Stikine terrane, which comprises a series of Middle Jurassic bimodal volcanics deposited in a back-arc basin. The silver-lead-zinc mineralization is part of an exhalative VMS-style, base and precious metal mineralization system.
Decade can earn a 50% interest in the Stamp claims from Teuton by paying $110,000 and carrying out $1.5 million worth of work over four years. The first year commitment calls for a $20,000 down payment and $200,000 of exploration work. Decade has another option to earn an additional 20% interest by carrying the property to feasibility.
“Dino Cremonese, P.Eng.”
Teuton Resources Corp.
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. and Silver Grail Resources Ltd. 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.