Teuton Resources Corp.(“Teuton”) (“TUO”) is pleased to announce that it has optioned a 100% interest in three strategic claims in the Red Chris area of northwestern British Columbia. The claims approach within 3km of Imperial Metals’ Hole RC09-350 which ran 152.5m of 4.12% copper and 8.83 g/t gold from an intercept beginning 520m downhole. This hole is one of the richest in terms of length and grade to be drilled in British Columbia since the Eskay Creek discovery in 1989. Results from the remainder of the hole to a target depth of 1500m are still to be reported by Imperial Metals.
In addition to optioning this property the Company has staked a large number of claims south and north of the Red Chris property. Plans are to farm out certain of the claims and keep others for evaluation.
The Company will pay $10,000 and 200,000 shares upon receipt of regulatory approval. Upon the first anniversary a further $15,000 will be paid along with another 100,000 shares. In the second year, a further $20,000 is to be paid along with another 100,000 shares. Upon completion of the cash and share payments the Company will own a 100% interest in the claims.
A finder’s fee is payable, subject to TSX Venture Exchange guidelines.
“Dino Cremonese, P.Eng.”
TEUTON RESOURCES CORP.
An illustration showing the disposition of claims in the Red Chris area is appended to this news release.
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The TSX Venture Exchange has neither approved nor disapproved the information contained herein.