Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”–TSX-V; “KD7”-Frankurt) and Teuton Resources Corp. (“Teuton”) (“TUO”:TSX–V; “TFE”- Frankfurt ) are pleased to announce the conclusion of an option agreement with Decade Resources Ltd. concerning a single claim in the southern portion of Silver Grail and Teuton’s jointly-owned Silver Crown property located 18 km north of Stewart, British Columbia.
Under the terms of the agreement, Decade has the right to earn a 100% interest in the claim, subject to a 2% Net Smelter Royalty, by spending $1,500,000 over a four year period. Total cash consideration over the term of the option equals $100,000 of which $10,000 has been received. Decade will also issue 100,000 shares of its common stock to Silver Grail and Teuton upon regulatory approval. A further 200,000 shares is payable at the end of the option period.
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. Silver Grail Resource Ltd. And Teuton Resources Corp. 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.
