Mr. Dino Cremonese reports

TREATY CREEK PROPERTY -- DRILL HOLE, GS-23-176-W1 INTERSECTS 123.0 METERS (M) OF 3.51 G/T AUEQ WITHIN 601.5 M OF 1.40 G/T AUEQ AT THE GOLDSTORM DEPOSIT

Teuton Resources Corp. has received assays from its joint venture partner, Tudor Gold Corp., in respect of the sixth 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 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 three drill holes that targeted the northeastern area of the deposit; however, only two were successfully completed: GS-23-176-W1 and GS-23-177. Drill hole GS-23-176 was terminated due to unfavourable deviation and was redrilled as wedge hole GS-23-176-W1 which did reach the intended target area. The Goldstorm deposit remains open in all directions and at depth.

Ken Konkin, president and chief executive officer of Tudor Gold, commented: "We are very pleased to announce the continuing expansion and definition of the Goldstorm domains in the northeastern sector of the deposit. Three of the largest mineralized domains, including 300H, CS-600 and DS5, reported excellent results from these latest drill holes. The highlight of the 2023 program is the remarkable continuation of higher grades of gold, copper and silver throughout the northern aspect of the Goldstorm deposit. One of the best-looking mineralized areas of the deposit to date is the lower CS-600 domain within GS-23-176-W1, which returned 273.75 m of 2.19 g/t AuEq [grams per tonne gold equivalent] (1.98 g/t Au, 3.30 g/t Ag, 0.15 per cent Cu) that includes an enriched central core that averaged 3.51 g/t AuEq (3.23 g/t Au, 5.57 g/t Ag, 0.19 per cent Cu) over 123 m. An interval of higher-than-average gold values was intersected near the end of GS-23-176-W1 that was associated with narrow quartz veinlets with minor disseminated pyrite; this is interpreted to be part of the DS5 domain, which may extend to greater depths than previously thought. If possible, we may extend this hole during the 2024 drill program to determine if there is a continuation to the lower 27 metres of mineralization that averaged 2.41 g/t AuEq near the bottom of this hole.

"The most significant aspect of GS-23-176-W1 may be the 15 m of 15.64 g/t AuEq (14.89 g/t Au, 4.72 g/t Ag, 0.60 per cent Cu) that occurs at the core of the richest portion of the CS-600 domain. This enriched quartz stockwork in the lower part of CS-600 is a comparable-looking zone to the high-grade gold interval encountered within the CS-600 in GS-22-134, located 135 m to the west. GS-22-134 intersected 25.5 m of 9.96 g/t AuEq (see press release dated July 19, 2023). This may be related to a later mineralizing event that overprints the CS-600 copper-gold porphyry mineralization with a discrete high-grade gold-dominant quartz stockwork system. Our technical team is examining the hypothesis that we may have an independent high-grade system that cuts both 300H and CS-600 domains. Including the high-grade interval, the overall larger composite of the CS-600 domain totalling 601.5 m of 1.40 g/t AuEq is comparable to that of GS-21-113-W2 which had a composite of 732 m of 1.60 g/t AuEq (see press release dated Aug. 11, 2022). These two intercepts could now significantly contribute to the indicated mineral resource for the next mineral resource update, which will benefit from the increased drilling density provided by this program.

"Equally impressive were the results from GS-23-177 where an enriched core of the 300H domain yielded 82.5 m of 1.92 g/t AuEq within 311.5 m of 1.04 g/t AuEq in the upper portion of that hole. Additionally, the composite for the CS-600 domain comprised yet another long intercept of 517.5 m that averaged 1.01 g/t AuEq, which included an enriched core that averaged 1.53 g/t AuEq (0.92 g/t Au, 5.80 g/t Ag, 0.46 per cent Cu) over 124.5 m. Near the lower contact of the CS-600 domain, another enriched zone was intersected that yielded 19.50 m of 5.70 g/t AuEq (5.41 g/t Au, 1.09 g/t Ag, 0.24 per cent Cu). The results from these two sections will add to the overall quantity of gold, silver and copper in the indicated and inferred categories of the next mineral resource update."

Section A:

• GS-23-176: Drilled to target deep CS-600 domain mineralization, outside the current mineral resource area. The hole intersected 114.10 m grading 1.01 g/t AuEq (0.80 g/t Au, 8.10 g/t Ag, 0.10 per cent Cu), including 61.60 m grading 1.32 g/t AuEq (1.01 g/t Au, 12.36 g/t Ag, 0.16 per cent Cu). The hole was stopped due to unfavourable deflection, and drilling was continued with a daughter wedge hole, GS-23-176-W1.
• GS-23-176-W1: This hole successfully intersected the CS-600 domain with 601.5 m of 1.40 g/t AuEq (1.23 g/t Au, 2.93 g/t Ag, 0.12 per cent Cu) which included a higher-grade interval of 273.75 m of 2.19 g/t AuEq (1.98 g/t Au, 3.30 g/t Ag, 0.15 per cent Cu) that also included 123 m of 3.51 g/t AuEq (3.23 g/t Au, 5.57 g/t Ag, 0.19 per cent Cu) and 15 m of 15.64 g/t AuEq (14.89 g/t Au, 4.72 g/t Ag, 0.60 per cent Cu). Below the CS-600 domain, an interval of 27 m grading 2.41 g/t AuEq (2.36 g/t Au, 3.91 g/t Ag, 0.01 per cent Cu) was intersected and is interpreted to be associated with the DS5 domain.

Section B:

• GS-23-177: This hole was drilled to increase the drilling density in the CS-600 domain where the current mineral resource estimate is categorized as inferred mineral resources. The hole intersected mineralization associated with the 300H domain that consisted of 311.5 m grading 1.04 g/t AuEq (0.99 g/t Au, 4.06 g/t Ag and 0.01 per cent Cu) and included 82.5 m of 1.92 g/t AuEq (1.84 g/t Au, 6.72 g/t Ag and 0.01 per cent Cu).

The CS-600 domain was intersected with 100.50 m grading 0.71 g/t AuEq (0.54 g/t Au, 1.42 g/t Ag, 0.13 per cent Cu) , followed by 517.5 m grading 1.01 g/t AuEq (0.71 g/t Au, 2.35 g/t Ag, 0.23 per cent Cu), including an enriched core of 124.5 m grading 1.53 g/t AuEq (0.92 g/t Au, 5.80 g/t Ag, 0.46 per cent Cu) and including an enriched lower zone of 19.5 m grading 5.70 g/t AuEq (5.41 g/t Au, 1.09 g/t Ag, 0.24 per cent Cu).

Orion property discovery of Copernicus zone

Teuton Resources optioned its Orion property to Tudor Gold in 2016. The option was completed four years later and Tudor Gold earned a 100-per-cent interest in the property, subject to a retained 2.5-per-cent net smelter return royalty in favour of Teuton. Tudor Gold subsequently spun out the Orion and other properties to Goldstorm Metals, which was listed on the TSX Venture Exchange in late 2022.

Goldstorm Metal's news release of Nov. 27, 2023, reporting on work carried out during the field season, stated: "Within the Orion area, exploration efforts specifically targeted a new zone, known as the Copernicus, along the upper Orion Spine. The gossanous area spans a 200 m wide by 800 m long concentration of sulphide mineralization containing copper, silver, zinc and cobalt. Within this zone, 229 samples were collected, including a 0.25 m chip sample (A0519298) that yielded 0.67 g/t gold, 320 g/t silver, 11.96 per cent copper, 0.088 per cent cobalt and 0.55 per cent zinc, as well as a 0.5 m saw-cut channel sample (OR-23-01) that yielded 0.28 g/t gold, 226.0 g/t silver, 6.95 per cent copper, 0.079 per cent cobalt and 0.37 per cent zinc. A continuous channel sample line, comprised of six samples (OR-23-02), averaged 0.14 g/t gold, 57.0 g/t silver, 1.71 per cent copper, 0.015 per cent cobalt and 0.15 per cent zinc over 5.15 metres."

Mr. Konkin, PGeo, president and CEO of Goldstorm Metals, commented: "Mineralization and textures observed at the Copernicus zone closely resemble those found in volcanogenic massive sulphide (VMS) deposits such as the Granduc and Windy Craggy deposits, which are classified as Besshi-type VMS systems, with a comparable metallogenic assemblage to that at the Copernicus zone. However, it is very early in the exploration phase and further mapping and sampling will be required to make final determinations on the characterization of the precious and base metal mineralization at our new discovery. Additional geological observations suggest that this mineralization may also have been remobilized and deposited along northerly tectonic shear systems parallel to the orientation of the Orion Spine. The Copernicus zone was traced for approximately 400 m along the upper Orion Spine. The company has constructed a drill pad to initiate a drill program as part of the 2024 exploration program on the Copernicus zone. Details of the proposed drilling will be determined prior to the 2024 drilling season."

Dino Cremonese, PEng, president of Teuton, said: "Today's Treaty Creek drill results are outstanding, a very pleasant surprise from some of the last holes of the season. A further bonus for Teuton is the reported discovery of Besshi-type VMS mineralization at the Orion; this is important not only because of Teuton's 2.5-per-cent net smelter return royalty (which is not encumbered by a buyback provision), but because it suggests potential for discovery of similar VMS mineralization within the 15-kilometre-long span situated between the formerly producing Granduc mine and the Orion property. Teuton owns most of the ground in this trend, including properties such as the Leduc Silver, Pearson, Big Gold, Eskay Rift, Tennyson and Four J's, many of which have sizable geophsycial anomalies on them, none of them which yet been drill tested."

Qualified persons

The qualified person for this news release for the purposes of National Instrument 43-101 is Tudor Gold's and Goldstorm's president and CEO, Mr. Konkin, PGeo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release. Mr. 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 their accuracy.

Quality assurance/quality control

Diamond drill core and field 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 Labs' 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 NI 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 lb 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 30 properties in the prolific Golden Triangle area of northwestern 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, have provided Teuton with substantial income.

We seek Safe Harbor.