Teuton Resources Corp. (“Teuton”) (“TUO”:TSX-V; “TFE”-Frankfurt) and Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”–TSX-V; “KD7”-Frankurt) announce that the 2009 Clone exploration program has begun. More Core Drilling Ltd. of Prince George, B.C., has been contracted for the drilling.
The program is being funded by Canasia Industries Inc. pursuant to an option whereby Canasia can earn a 50% interest by spending $1.8 million over 5 years. Teuton and Silver Grail are the operators. Approximately $3.8 million has been spent on the property to date.
Primary target of the 2009 drilling is the main H-1 zone.
Dino Cremonese, P.Eng., is the qualified person for the purposes of National Instrument 43-101 for the Clone property and has verified and approved the contents of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
TEUTON RESOURCES CORP.
SILVER GRAIL RESOURCES LTD.
Dino Cremonese, P.Eng.”
Dino Cremonese, P.Eng.
President
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. and Silver Grail Resources Ltd. do 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.
