Teuton Resources Corp. (“Teuton”) (“TUO”) is pleased to announce that it has entered into an agreement with Bell Copper Corporation (“Bell”) whereby Bell can acquire a 100% interest in Teuton’s Silver Leduc claims which surround Bell’s Granduc Crown Claims, located northwest of Stewart, British Columbia. This agreement supplants the previous agreement with Bell on the property.
In exchange for the 100% interest, Teuton will retain a 1.5% NSR (the “NSR”) on the Silver Leduc claims and on Bell’s four claims to the north of the Silver Leduc claims (#415486, #415487, #415488 and #415489). Bell’s Crown Claims are excluded.
The NSR is subject to an Annual Advance Royalty Payment of $50,000 comprised of cash and shares (the “Advance Royalty”). The cash component of the Advance Royalty will be $25,000 and the share component will be $25,000 payable in common shares to be calculated as the average price for the shares of Bell over the previous 10 trading days prior to the annual December 31 payment date.
The Granduc Mine is a former copper producer located in the prolific Stewart Mining Camp of northwestern British Columbia.
“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. has an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
