Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”–TSX-V; “KD7”-Frankurt) and Teuton Resources Corp. (“Teuton”) (“TUO”:TSX–V; “TFE”-Frankfurt) are pleased to announce that a budget of $1 million has been set for a 2007 exploration program on their jointly-owned Fiji property, located 25 kilometres southeast of Stewart, British Columbia.
Prospecting samples taken in 2006 from two mineralized zones on the Fiji have returned an unusually high proportion of high-grade gold values. Five out of sixteen samples returned gold values higher than 11 g/t, ranging from 11.21 to 47.1 g/t gold (see map attached, “Fiji Property Gold Zones”). One of the zones features fracture-controlled pyrite mineralization in what appears to be a highly altered intrusive. The second zone, in an area recently exposed by meltback of a snowfield, features sphalerite, galena, tetrahedrite, pyrite and barite mineralization hosted in altered volcanic rocks.
The planned 2007 program will consist of further sampling, trenching, geological mapping and diamond drilling. Silver Grail and Teuton will apply for permits for a minimum of 2,000 metres of drilling.
The Fiji property adjoins immediately to the west of Bravo Ventures Homestake Ridge property wherein 2006 drilling by Bravo returned several outstanding drill intercepts including Hole 06-24 which intersected 14.8 metres grading 15.7 g/t gold. The Homestake Ridge discovery lies approximately 1000 metres from the gold-bearing zones on the Fiji property.
D. Cremonese, P.Eng., President of Silver Grail and Teuton stated: “This planned program is one of the largest ever to be funded directly by the companies. Normally, we would seek an option partner for a program of this size, but we are sufficiently encouraged by what we see on the ground and by the high gold assays to go it alone. Considering that Bravo Ventures has also announced that it plans a multi-rig drill program on their ground next door, we very much look forward to the 2007 field season”.
D. Cremonese, P.Eng. is the Qualified Person for Silver Grail and Teuton.
ON BEHALF OF THE BOARD OF DIRECTORS
TEUTON RESOURCES CORP.
SILVER GRAIL RESOURCES LTD.
“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.
