July 24, 2013, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”-Frankfurt) (“TEUTF”—OTCBB) is pleased to announce that 2013 fieldwork has begun on its Stewart area mineral properties, as follows:
High Property: A program of prospecting and rock sampling has begun on the King Tut zone, located at the northern end of the High property, approximately 50km north of Stewart in the Golden Triangle region of northwestern British Columbia. The King Tut lies 150m south of the border between Teuton’s High property and Pretium Resources’ Brucejack-Snowfield property, the latter featuring the exceptionally high-grade gold Valley of the Kings zone. On July 23, 2013 Pretium Resources announced discovery of another high-grade structure in the Valley of the Kings, the Cleopatra vein, from which one drill intersection reported 5.8m grading 2,567 g/t gold (19.0 feet of 74.88 oz/ton gold).
Work in 2013 at the King Tut is being helped by very warm weather which has locally melted snow and ice, exposing several new areas of rock outcrop. A new showing featuring blue azurite stain has been discovered, samples from which have been sent in for assay. The aim of the program is to follow-up the 2012 King Tut discovery hole which ran 222m of 0.88 g/t gold, with an emphasis on untested, near-surface targets. These drill targets will be defined by results from ongoing surface sampling as well as last year’s sampling which returned values which ran between 0.56 and 16.8 g/t gold. Drilling is scheduled for later in the field season, contingent upon obtaining the necessary financing.
D. Cremonese, P.Eng., President, said: “The new high-grade results from Pretium’s Cleopatra vein underscore the mineral potential of this area. As we have only just begun to explore our High claims (only one hole drilled to date in this portion of the property), prospects for further discoveries must be considered excellent.”
Tennyson Property: The Tennyson property is currently under option to Brigade Resources, a private company controlled by the Hunter Dickinson Group, owners of porphyry copper-gold mines located in North America. A $75,000 option payment due to Teuton was made by Brigade in June of 2013. Brigade can earn a 50% interest in the property by spending $6 million over four years. It is currently in the second year of the option.
Brigade has not yet formally told Teuton of its plans for the 2013 season, but it will have to spend over $1.3 million on the property from March 31, 2013 to the end of the second year of the option in order to keep the agreement intact.
Yellow Chris Claims: A crew will mobilize to Iskut on July 26, 2013 in order to begin a program of prospecting, geological mapping and soil sampling over several magnetic anomalies discovered by an airborne geophysical survey conducted on Teuton’s unoptioned claims in the Red Chris/North ROK area. This work will be followed up by IP (Induced Polarization) geophysical surveying and diamond drill programs, again contingent upon obtaining the necessary financing.
Redhill Resources, optionee of Teuton’s southernmost block of Yellow Chris claims (which adjoin directly to the northeast of Colorado Resources’ North Rok copper-gold discovery), has also begun a program of soil sampling, geological mapping and geophysical surveying. Redhill can earn a 50% interest in the claims by spending $4.5 million over four years.
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng. Mr. Cremonese has not independently verified the results of work performed by Pretium on its Brucejack-Snowfield property, as reported herein.
Respectfully:
“Dino Cremonese, P.Eng.”
President,
Teuton Resources Corp.
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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.
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