Teuton Resources Corp. (“Teuton”) (“TUO”:TSX–V; “TFE”-Frankfurt) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”–TSX-V; “KD7”-Frankurt) are pleased to announce that drilling has begun on their jointly-owned Midas claims, located 30 km east of Stewart, BC. The 2007 program will target depth and strike extensions of goldbearing mineralization intersected within the 3 Oz Vein showing in 2006.
Highlights of previous work follow:
• Excellent bulk tonnage gold potential indicated by a 32.40 meter (29m true width)interval grading 2.52 g/tonne gold (0.07 oz/ton) in Hole #SDN06-02.
• 2006 drilling tested zone over a vertical range of 300 meters.
• Zone remains open in all directions.
• Surface grab and chip samples have ranged from trace to 29.65 g/t (0.86 oz/ton) in gold, and float samples from trace to 102.8 g/t (3 oz/ton) gold.
The jointly-owned Midas claims comprise the southernmost claims within the Del Norte property, the northern portions of which are 100% owned by Teuton. Sabina Silver Corporation (“Sabina”, “SBB”) presently holds the Del Norte property under option and is funding and operating the 2007 work program. Sabina has the right to earn a 50% interest in the Del Norte property by spending $2.5 million over 4 years, or, alternatively, a 65% interest by taking the property to a feasibility study.
Fiji and Konkin Silver Properties
Silver Grail and Teuton have received all necessary work permits for forthcoming drill programs on their jointly-owned Fiji and Konkin Silver properties, also located within the Stewart region.
A drill purchased earlier in the year by Teuton will be used for the Fiji property. The Fiji adjoins directly to the west of Bravo Ventures’ Hometake Ridge gold property within which a 9,000m drill program is anticipated to commence shortly. A contract has been signed with Elite Diamond Drilling for the Konkin Silver project. Northern Air Support has been contracted to supply a Hughes 500D helicopter to support both projects.
D. Cremonese, P.Eng. is the Qualified Person for both Silver Grail and Teuton in regard to technical information contained in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
TEUTON RESOURCES CORP.
“Dino Cremonese, P.Eng.”
Dino Cremonese, P.Eng.
President
This news release includes certain forward-looking statements concerning the futur 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.
