Received by email:
File: kingtutetaloption.docx
TEUTON RESOURCES CORP.
202-2187 Oak Bay Avenue
Victoria, BC V8R 1G1
Phone: (604) 682-3680 Fax: 682-3992
Toll Free: 1-800-879-2333
Website: www.teuton.com
NEWS RELEASE---KING TUT, TUCK AND SILVER CROWN WEST PROPERTIES OPTIONED TO PRETIUM RESOURCES FOR $1.8 MILLION IN CASH
--->PAYMENTS
August 10, 2015, Vancouver, BC: Teuton Resources Corp. ("Teuton") ("TUO"-TSX-V) ("TFE"-Frankfurt) ("TEUTF"-OTCBB) ha
--->s optioned its King Tut, Tuck and Silver Crown West properties to Pretium Resources Inc. for $1.8 million in cash pay
--->able over four years. Teuton will retain a 2% NSR in the properties with no buyback.
The King Tut and Tuck properties adjoin due south of Pretium's Brucejack property where exploration work to date has e
--->stablished measured and indicated resources of 8.7 million ounces of gold (15.3 million tonnes grading 17.6 g/t gold)
--->in the Valley of the Kings gold deposit. Pretium very recently received federal environmental approval for their Bruc
--->ejack Project and plans to put it in production in 2017. A URL for a map is provided at the end of the news release.
Work done to date on the King Tut and Tuck properties suggests similar geology to that in evidence on Pretium's Brucej
--->ack property. A single hole drilled in 2012 on the King Tut intersected 222m running 0.88 g/t gold, very close to the
---> same grade and length as the average of 21 holes drilled into Pretium Resources Bridge deposit situated 2km to the n
--->orth. On Teuton's Tuck property located south of the King Tut, meltback of snow and ice in 2014 exposed a new altere
--->d zone of jarosite-stained quartz stockwork carrying anomalous values in gold, silver and arsenic. A number of anomal
--->ous gold intervals were obtained in drilling of several short holes in the southern part of this zone in 2014.
The Silver Crown West property, located further south, features a pronounced EM anomaly which remains to be tested.
--->
The $1,800,000 is payable as follows: $100,000 upon signing; a further $150,000 on or before August 15, 2015; a furth
--->er $250,000 on or before January 14, 2016; a further $250,000 on or before July 14, 2016; a further $250,000 on or bef
--->ore July 14, 2017; a further $400,000 on or before July 14, 2018; and, a further $400,000 on or before July 14, 2019.
--->
D. Cremonese, P.Eng., President, commented as follows: "We are pleased to have optioned off three of our more than th
--->irty properties in the Golden Triangle to a company of the caliber of Pretium Resources. The 2% NSR without a buybac
--->k ensures that we will retain a significant interest in any discoveries made on the optioned ground. Going the NSR ro
--->ute also has the advantage of saving on future dilution of equity."
The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng., who, as President and CEO, is not
---> independent of the Company.
Shareholders and other interested parties can access information about Teuton at the Company's website, www.teuton.com
--->.
Respectfully:
"Dino Cremonese, P.Eng."
President,
Teuton Resources Corp.
URL for a map can be found here:
http://teuton.com/wp-content/uploads/2015/08/kingtut_tuck_V5_no_geology.pdf
If you would like to be added to Teuton's news distribution list, please send your email address to dino@teuton.com
This news release includes certain forward-looking statements concerning the future performance of our business, its o
--->perations and its financial performance and condition, as well as management's objectives, strategies, beliefs and int
--->entions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "antic
--->ipate", "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 explorat
--->ion and development, fluctuating commodity prices, competitive risks and the availability of financing, as described i
--->n more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materia
--->lly from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Teut
--->on 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.
File: kingtut_tuck V5_no geology(2).pdf
---> I
Treaty Creek
(49% Teuton,
51% American Creek)
Legend
Iron Cap
_
^ Mineralized Zone
Alteration Zone
Mineral Deposit
^ Teuton's King Tut and Tuck Prop
--->erties
Snowfield Properties owned by Teuton Reso
--->urces
Mitchell
Properties owned by Pretium Res
--->ources
Pretium Properties owned by Seabridge G
--->old
Properties owned by Eskay Minin
--->g (80%) - SAS JV
Sulphurets
Favourable contact between Jurassic and Triassic age rocks
Kerr/ VALLEY OF THE KINGS RESOURCE
Brucejac
Measured + Indicated Resources
Deep of 8.7 Million ounces Gold
Kerr (15.3 M tonnes grading 17.6 g/t
---> Au)
VOK
k
Bridge
Fault
King Tut and Tuck claims optioned to
Pretium Resources; Teuton receives
Nip
Pretium
Seabridge $1.8 million in cash payments over 4
--->years
_
^ and retains a 2% NSR with no buyback
^
_
King Tut
High North
available for option
Teuton
Teuton
Teuton
Sulp
h
Tuck _
urets
F au l
t
Teuton
Teuton
Delta
Orion available for option
Staked
---> 0 1 2
available for option
---> Km
Teuton
TEUTON RESOURCES CORP.
King Tut and Tuck Properties
Fairweather
available for option
Sulphurets District Skeena
---> Mining Division
---> August, 2015
© 2024 Canjex Publishing Ltd. All rights reserved.