March 27, 2015, Victoria, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) (“TFE”- Frankfurt) (“TEUTF”—OTCBB) announces that, further to its news release of March 2, 2015, the Company has paid the Court Bailiff all of the money that was owing. Teuton anticipates its mineral claims will be returned shortly. Teuton has now paid a total of $621,712 to American Creek (“AMK”) pursuant to party-and-party costs awarded against it in regard to the trial judgment of Justice Grauer in relation to the Treaty Creek litigation. Special costs are yet to be determined by the Registrar and are thus uncertain, but the Company expects they will be minor in comparison to the sums paid to date.
Teuton’s appeal of the April 14th, 2014 BC Supreme Court Judgement was heard March 9-11, 2015. Judgement has been reserved and is expected to be released within the next several months. Concurrently, Teuton also appealed the November 23rd, 2014 judgement awarding special costs against it. This judgement is also under reserve and is expected to be released at the same time as the decision with respect to the main trial.
There are several possible likely outcomes for the appeal. One, Teuton may be awarded 100% of the Treaty Creek property outright, in which case all of AMK’s claims are dismissed. All funds paid to AMK in regard to costs will have to be returned. Two, the Appeal Court may order a new trial. In such case, 100% of the Treaty Creek property would be returned to Teuton, pending results of the new trial. All funds paid to AMK in regard to costs will have to be returned, pending the outcome of the new trial. Three, the Appeal Court may dismiss Teuton’s appeal. In such case, the matter stays where it is now, with AMK holding 100% legal title to the Treaty Creek property, with 49% held on trust for Teuton. All moneys paid to AMK in regard to costs would stay with AMK.
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.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
