Vancouver , British Columbia – Minvita Enterprises Ltd. (“Minvita”) and Teuton Resources Corp. (“Teuton”) are pleased to announce that an additional four molybdenum prospects have been acquired by staking in the Alice Arm region, located southeast of Stewart, British Columbia. These properties lie southwest and northeast of Teuton-Minvita’s jointly owned, 28,000 acre large, molybdenum-silver Tonga property (cf. Fig 1).
The prospects were selected for staking based on anomalous molybdenum values recorded in BC government stream geochemical surveys and/or BC Ministry of Mines assessment reports. The most developed of these prospects is located on Campbell Ridge, three kilometers from tidewater on Hastings Arm. Work by Noranda Mining in 1979 defined a cluster of >25 ppm molybdenum soil anomalies along a 2.5 kilometer long trend. Twentyfive of sixty rock samples taken within the anomalous areas returned values from 0.10% to 2.4% Mo (cf. Fig. 2 & cf. Fig. 3).
The Alice Arm region is known to host several molybdenum deposits, including the formerly producing BC Molybdenum mine. This district is now being re-evaluated due to a sharp rise in the price of molybdenum from the $2-3/lb level to its present value at $38/lb. Minvita and Teuton are currently seeking optionees to finance exploration on the Tonga and Campbell Ridge molybdenum prospects.
In other corporate developments, Minvita and Teuton have been notified by Lateegra Resources Corp. that Lateegra will not be proceeding with its option on the Clone gold property. Minvita and Teuton will also seek an optionee for this property.
ON BEHALF OF THE BOARD OF DIRECTORS
“D. Cremonese”
Dino Cremonese, P.Eng.
President and Director
Teuton Resources Corp
Minvita Enterprises Ltd.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
