Mr. Ken Konkin reports

TREATY CREEK PROPERTY - NEW GOLD SYSTEM FOUND AT THE PERFECT STORM ZONE; HOLE PS-23-10 INTERSECTS 102.15 M OF 1.28 G/T AUEQ, INCLUDING 42.5 M OF 1.87 G/T AUEQ

Teuton Resources Corp. has received assays from its joint venture partner, Tudor Gold Corp., in respect of the fourth set of drill results from the 2023 work program at the Treaty Creek property. Treaty Creek is located in the heart of the Golden Triangle of northwestern British Columbia, adjoining and on geological trend with Seabridge Gold's KSM property and Newmont Mining's Brucejack property.

Tudor Gold has safely and successfully completed the 2023 drilling program at Treaty Creek with a total of 31,904 metres (m) drilled within areas encompassing the Goldstorm deposit and the Perfectstorm zone. The assay results reported in this release are from six drill holes that targeted both the southwestern and the northeastern areas of the Perfectstorm zone (PSZ) located approximately 1,500 metres apart.

Ken Konkin, president and chief executive officer of Tudor Gold, commented: "Tudor Gold's technical team has done an outstanding job with this year's drill program at Treaty Creek. Not only have we significantly expanded the known boundaries of the Goldstorm deposit, but we have also successfully confirmed the existence of the Perfectstorm system with holes that are spaced over a distance of 1,500 metres. We believe that we have intersected the upper extremity of yet another porphyry system that lies approximately two kilometres southwest of our Goldstorm Au-Cu-Ag deposit. Typically, copper mineralization is encountered deeper within the known deposits along the Sulphurets-Treaty thrust fault trend. Our intersections reported in this news release occur much higher in elevation than the copper-rich zones encountered at Goldstorm. We have observed gold- and silver-dominant mineralization in the uppermost parts of the southwestern holes of the Perfectstorm system with copper mineralization occurring in the deeper parts of the northeastern holes. Our current geological interpretation is that the system lies peripheral to the intense magnetic anomaly that has been detected under the Treaty Glacier to the southeast of the drill holes. Previous drilling undertaken between the two areas reported in this news release may have been on the periphery of stronger mineralization, such as that which we discovered in drill hole PS-23-10. Previous holes were oriented to the northwest, whereas those holes drilled this year in the opposite direction have revealed wider and more strongly mineralized intervals, such as 1.28 g/t AuEq (1.23 g/t Au, 3.43 g/t Ag, 0.01 per cent Cu) over 102.15 metres in PS-23-10. The upper 42.5 metres of this intercept yielded 1.87 g/t AuEq (1.80 g/t Au, 5.76 g/t Ag, 0.02 per cent Cu). The Perfectstorm system adds a new dimension to the geological potential of the Treaty Creek project with the addition of yet another bulk-tonnage Au-Cu-Ag target. Included in the impressive intercepts were some high-grade gold-silver veins that are interpreted as late-stage overprinted mineralization, similar to that observed at the Goldstorm deposit throughout the 300H and CS-600 domains. Grades as high as 444.0 g/t silver and 24.7 g/t gold were intersected over 1.5 m intervals within holes PS-23-07 and PS-23-10 respectively. We are very excited in our anticipation of yet another potentially massive bulk tonnage Au-Cu-Ag system, with high-grade Au-Ag overprinting, on our exploration horizon."

Section A (northeast PSZ)

• PS-23-11: Drilled on section with the original 2020 PSZ drill holes, PS-20-01 and PS-20-02, to explore the down dip projection of the open mineralized trend. A new gold-bearing zone was intersected near surface returning 136.0 metres of 0.71 grams per tonne AuEq (0.69 g/t Au, 1.26 g/t Ag), that included 23.4 m of 1.75 g/t AuEq (1.74 g/t Au, 0.90 g/t Ag ), as well as 20.1 m of 1.34 g/t AuEq (1.30 g/t Au, 4.21 g/t Ag). Further downhole, porphyry mineralization that had been observed in the 2020 holes was encountered, extending the lower zone 200 m to the northwest with an interval of 138.95 m of 0.52 g/t AuEq (0.43 g/t Au, 4.99 g/t Ag, 0.04 per cent Cu).
• PS-23-12: Drilled in the opposite direction along the same section line to continue exploring the lower porphyry gold-silver-copper zone. This hole intersected 122.0 m of 0.71 g/t AuEq (0.61 g/t Au, 2.96 g/t Ag, 0.06 per cent Cu), including an enriched interval of 10.5 m of 3.07 g/t AuEq (2.63 g/t Au, 3.68 g/t Ag, 0.34 per cent Cu). This intercept is located 150 m to the southeast from the 2020 drill holes and expands the lower NE PSZ mineralization to a drilled length of 500 m.

Section B (southwest PSZ)

• PS-23-07: Drilled as a 400 m stepout from 2021 PSZ drill hole PS-21-06, to continue exploring and expanding the system to the southwest. This drill hole intersected intermittent mineralized quartz-carbonate veins in the upper part, followed by a 27.0 m wide mineralized shear zone, from 541.0 to 568.0 m down hole, which assayed 1.34 g/t AuEq (1.02 g/t Au, 30.13 g/t Ag, 0.02 per cent Cu). One 1.5 m sample returned 444.0 g/t Ag with native silver observed in the drill core.
• PS-23-08: Drilled on the same section to explore to the northwest and to define the stratigraphy and structures of the area. This drill hole intersected multiple mineralized vein zones, two of which returned 15.0 m of 1.19 g/t AuEq (1.15 g/t Au, 2.83 g/t Au, 0.02 per cent Cu), and 9.0 m of 0.93 g/t AuEq (0.90 g/t Au, 1.66 g/t Ag, 0.01 per cent Cu) at a shallow depth of 154.5 m down hole.
• PS-23-09: Drilled to further define the vein zones and structures observed in hole PS-23-08. Multiple mineralized zones were intersected, including 18.0 m of 0.98 g/t AuEq (0.96 g/t Au, 1.84 g/t Ag, 0.01 per cent Cu), and 33.0 m of 0.77 g/t AuEq (0.74 g/t Au, 1.63 g/t Ag, 0.01 per cent Cu).
• PS-23-10: Drilled at a relatively shallow dip to the south to explore for extension of the mineralized zone encountered in drill hole PS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEq (1.23 g/t Au, 3.43 g/t Ag, 0.01 per cent Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEq (1.80 g/t Au, 5.76 g/t Ag, 0.02 per cent Cu), and 25.5 m of 1.60 g/t AuEq (1.58 g/t Au, 1.81 g/t Ag, 0.01 per cent Cu). Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date and they are located between the Goldstorm deposit, three km to the northeast, and Seabridge Gold's Iron-Cap deposit, 2.5 km to the southwest.

D. Cremonese, PEng, president of Teuton Resources, commented as follows: "Ken Konkin and his team at Tudor Gold have completed yet another outstanding year of exploration at Treaty Creek. The new assays from the Perfectstorm zone indicate that Tudor's geological team is beginning to grasp the controls on mineralization therein, suggesting that another porphyry deposit may be taking shape. In addition, higher-grade gold intervals are being found within and proximate to the bulk tonnage grade material, similar to what one is seeing at the northern extremities of the Goldstorm deposit. These developments are very positive for future exploration in the area."

• All assay values are uncut and intervals reflect drilled intercept lengths.
• HQ and NQ2 diameter core samples were sawn in half and typically sampled at standard 1.5 m intervals.
• The following metal prices were used to calculate the AuEq metal content: gold $1,800/ounce, Ag: $20/oz, Cu: $3.5/pound. Calculations used the formula AuEq equals Au g/t plus (Ag g/t multiplied by 0.0098765) plus (Cu ppm (parts per million) multiplied by 0.0001185). All metals are reported in United States dollars and calculations consider recoveries of 90 per cent for gold, 80 per cent for copper and 80 per cent for silver.
• True widths have not been determined as the mineralized body remains open in all directions. Further drilling is required to determine the mineralized body orientation and true widths.

Qualified person

The qualified person for this news release for the purposes of National Instrument 43-101 is Tudor Gold's president and chief executive officer, Ken Konkin, PGeo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. D. Cremonese, PEng, is the qualified person for Teuton Resources (as president of the company he is not independent of the company). Mr. Cremonese has not personally verified the technical data in the news release but has no reason to doubt its accuracy.

QA/QC

Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, B.C., and assayed at MSA Labs' Geochemical Laboratory in Langley, B.C. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Tudor Gold personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001. MSA Labs is independent of the company.

About Treaty Creek

Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20-per-cent carried interest in the Treaty Creek project (Tudor Gold is responsible for paying all exploration costs up until such time as a production decision is made and owns a 60-per-cent interest; American Creek Resources owns the remaining 20-per-cent interest, also carried). Additionally, Teuton owns a 0.98-per-cent net smelter royalty in the Goldstorm deposit area as well as in the northern portion of the Perfectstorm zone; within the southern portion of the Perfectstorm zone, Teuton owns a 0.49-per-cent NSR with an option to increase that to 1.49 per cent by paying $1-million to the current owner. It also owns numerous additional royalty interests within the sulphurets hydrothermal system on formerly 100-per-cent-owned properties such as the King Tut, Tuck, High North, Orion, Delta and Fairweather properties (King Tut and Tuck now owned by Newmont Mining; High North, Orion, Delta and Fairweather properties now owned by Goldstorm Metals).

The Treaty Creek project contains the Goldstorm deposit (a large gold-copper porphyry system) as well as several other mineralized zones. As disclosed in the March, 2023, news release, the Goldstorm deposit has an indicated mineral resource (as defined in National Instrument 43-101) of 23.37 million ounces of AuEq grading 1.13 g/t AuEq (18.75 Moz gold grading 0.91 g/t, 2.18 billion pounds copper grading 0.15 per cent, 112.4 Moz silver grading 5.45 g/t) and an inferred mineral resource (as defined in NI 43-101) of 7.35 Moz of AuEq grading 0.98 g/t AuEq (5.54 Moz gold grading 0.74 g/t, 850 million pounds copper grading 0.16 per cent, 45.08 Moz silver grading 5.99 g/t), with a pit-constrained cut-off of 0.5 g/t AuEq and an underground cut-off of 0.7 g/t AuEq. The Goldstorm deposit has been categorized into three dominant mineral domains and several smaller mineral domains. The CS-600 domain largely consists of an intermediate intrusive stock and hosts the majority of the copper mineralization within the Goldstorm deposit. CS-600 has an indicated mineral resource of 9.86 Moz AuEq grading 1.10 g/t AuEq (6.22 Moz gold grading 0.70 g/t, 1.98 Blb copper grading 0.32 per cent, 51.1 Moz silver grading 5.71 g/t) and an inferred mineral resource of 3.71 Moz AuEq grading 1.19 g/t AuEq (2.32 Moz gold grading 0.75 g/t, 760 Mlb copper grading 0.36 per cent, 18.71 Moz silver grading 6.01 g/t). The Goldstorm deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.

About Teuton Resources Corp.

Teuton owns interests in more than thirty properties in the prolific Golden Triangle area of northwest British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. This model minimizes share equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and in shares of the optionee companies over the past six years, has provided Teuton with substantial income.

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