Mr. Dino Cremonese reports

BIG GOLD PROPERTY - SURFACE RECONNAISSANCE IDENTIFIES TWO MASSIVE SULFIDE OCCURRENCES AND A PARALLEL QUARTZ VEIN WITH 27.7 G/T GOLD AND 6,240 G/T SILVER

Teuton Resources Corp. has released the results of reconnaissance geochemical sampling conducted on its 100-per-cent-owned Big Gold property, part of the company's Luxor project. The Big Gold property is located in the heart of British Columbia's famed Golden Triangle, between the past-producing Granduc mine, seven kilometres to the south, and the recently discovered copper-rich massive sulphide Copernicus showing on Goldstorm Metal's Orion property, five km to the north. Highlights of the 2023 Big Gold exploration program include:

• Discovery of the Roman zone massive sulphide occurrence over a strike length of at least 25 metres. Ten surface grab samples have results grading up to 57.1 grams per tonne (g/t) silver (Ag), 12.10 per cent lead (Pb), 9.32 per cent zinc (Zn) and 0.72 per cent copper (Cu) (see the tables entitled "Summary of results from Roman zone (n equals 10)" and "Grab sample results from the Roman zone").

• Discovery of the Zall massive sulphide occurrence 50 m to the northeast of the Roman zone, with two grab samples grading up to 4.2 per cent Zn, 0.14 per cent Cu and 13.2 g/t Ag (see the table entitled "Zall occurrence grab samples").
• Discovery of an approximately 15-centimetre to 20 cm thick high-grade quartz-sulphide vein that was tested with a single grab sample that graded 27.7 g/t gold (Au), 6,240 g/t Ag, 1.5 per cent Cu, 6.4 per cent Pb and 3.1 per cent Zn (see the table entitled "6 Kilo vein -- discovery assay").
• Identification of a unit of black mudstones with one cm to five cm thick stratiform pyrite layers over an approximately 320 m by 150 m area defining a zone of elevated Au, Ag and Zn, as well as epithermal tracer elements arsenic (As) and mercury (Hg) (average values of 16 samples: 0.1 g/t Au, 3.8 g/t Ag, 409 parts per million (ppm) Zn, 55 ppm As and 2.8 ppm Hg -- see the table entitled "Full table of results from 2023 rock sampling -- Big Gold").

Note: Grab samples are selective in nature, therefore reported mineralization and assay results may not be representative.

Dino Cremonese, PEng, president of Teuton, commented: "We are encouraged by these early exploration-stage results from Teuton's Big Gold property. The identification of multiple zones of massive sulphide, as well as a high-grade quartz-sulphide vein on this underexplored property demonstrates its promise. The style of the newly discovered mineralization suggests a volcanogenic massive sulphide affinity, making the property prospective for world-class deposits like Eskay Creek, Grandu and Anyox, which are also located in British Columbia's Golden Triangle."

The Big Gold property and Luxor project

The Big Gold property comprises six claims totalling 2,835 hectares (ha) within a larger block of eight properties (the Luxor project) totalling 21,540 hectares. All properties within the Luxor project are 100-per-cent-owned by Teuton. The 2023 exploration work program on Big Gold included geological mapping, collection of 59 grab samples for assay and collection of 120 samples for hyperspectral analysis to aid with alteration mapping and exploration vectoring.

The property is underlain by alternating sequences of black mudstones and mafic volcanic flows and tuffs. British Columbia government geology maps show that it is underlain by Iskut-River-formation-rift-related rocks that are prospective for volcanogenic massive sulphide (VMS)-style mineralization, and which host the Eskay Creek and Anyox VMS deposits.

The Roman zone massive sulphide occurrence

Discovered in a zone of glacial meltback (ablation) beside a retreating valley glacier in the final days of the 2023 exploration campaign, the Roman zone is exposed over approximately 25 m strike length, and comprises massive and semi-massive sulphide located in bedding parallel lenses, and remobilized into crosscutting quartz-veins and local shear zones. Sulphide lenses range in thickness between just a few centimetres and 50 cm, and are semi-continuous across the 25 m strike length. The massive sulphide consists of fine-grained sphalerite, galena, pyrite and chalcopyrite, sometimes mixed with variable amounts of quartz. The Roman zone pinches out to the northeast and abuts the lateral edge of a 500 m wide valley glacier to the southwest, disappearing under the ice. Although no massive sulphide was identified on the opposite side of the glacier, rocks collected along a parallel but offset trend in that area are elevated in silver.

Mr. Cremonese, PEng, president of Teuton, commented further: "The Roman zone was discovered in an area that, until the summer of 2023, was covered by glacial ice and the mineralization appears to extend further beneath the remaining ice. This is just one of many examples of how glacial and snowpack melting is rapidly changing the landscape of exploration across the Luxor project. We anticipate that there will be a broader area of exposure at the Roman zone in 2024, which will aid in determining the most efficient way to test this excellent target with drilling. We also anticipate a significant boots-on-the-ground-style exploration campaign on the Luxor project in 2024, focusing on areas of glacial abatement."

Zall massive sulphide occurrence

The Zall massive sulphide occurrence is located 50 m northeast of the Roman zone. It comprises an approximately 1.5 m to 2.0 m thick bed of silicified black mudstone with up to 50 cm thick domains of massive pyrite and sphalerite. Two grab samples (see the table entitled "Zall occurrence grab samples") were collected from the Zall occurrence, one from the massive sulphide, which grades 4.2 per cent Zn, 0.14 per cent Cu and 13.2 g/t Ag, and a second from the strongly silicified mudstone surrounding the massive sulphide, with no visible sulphides, which graded 1.5 per cent Zn, an 2.6 g/t Ag, indicating the presence of very fine-grained sphalerite disseminated in the mudstone.

The 6 Kilo vein occurrence

The 6 Kilo vein, named after the vein's approximate silver value in kilograms/tonne (see the table entitled "6 Kilo vein - discovery assay"), comprises a single quartz-sulphide vein containing coarse sphalerite, galena and chalcopyrite in quartz. The vein is part of a set of abundant concordant to semi-concordant quartz veins observed across the property -- it varies between five cm and 20 cm thickness; its lateral extent was not mapped out during the 2023 program. The vein has high-grade precious and base metals. The stratiform nature of the property-wide vein set is suggestive of a bedding-parallel replacement, mineralization and alteration system such as is commonly observed in VMS environments.

Big Gold north -- epithermal signature

In the northern portion of the Big Gold property, 16 grab samples of black mudstone with abundant pyrite-rich beds up to five cm thick were collected over an approximately 320 m by 150 m area (see the table entitled "Full table of results from 2023 rock sampling -- big gold"). Most samples tested silicified domains or areas with significant quartz veining. Although pyrite was the only sulphide observed, assays grade up to 0.23 g/t Au, 12.1 g/t Ag and 0.43 per cent Zn. Arsenic and mercury epithermal tracer elements are also elevated in these rocks with concentrations up to 207 ppm As and 14.3 ppm Hg.

VMS prospectivity across the Luxor project

Teuton's 2023 exploration campaign also included prospecting on the 4J's property, located approximately three kilometres east of the Big Gold property. The 4J's property is underlain by sedimentary and volcanic rocks like those on the Big Gold property, and it is host to a similar style of VMS mineralization. Prospecting in 2023 focused along the lateral edge of a rapidly retreating glacier where up to one m thick domains of stratiform and crosscutting pyrite-rich massive sulphide were observed and sampled. Results from this sampling will be released once they are validated and interpreted by Teuton's qualified person.

The Eskay Rift property, which is situated between and south of the Big Gold and 4J's properties, comprises a thick sequence of black mudstones intruded by mafic sills. The black mudstones contain abundant pyrite laminations and beds that could be interpreted to be part of a VMS system. The property is underlain by a large (greater than one km long) and intense (less than 100 ohm-metre) resistivity anomaly that was detected as part of a ZTEM (z-tipper axis electromagnetic) survey conducted in 2018.

Qualified person

The qualified person for this news release for the purposes of National Instrument 43-101 is Tony Barresi, PhD, PGeo, a consultant for Teuton Resources, and principal of Barresi Geoscience. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

Quality assurance/quality control (QA/QC)

All samples were crushed and pulverized at the ALS preparation laboratory in Terrace, B.C., using ALS technique PREP31. The pulps were shipped by ALS to its geochemical laboratory in North Vancouver, where Au was tested on 30-gram nominal samples by fire assay with an AES (atomic emission spectroscopy) finish (ALS method Au-ICP21). An additional 52 elements were tested on 0.5 g splits using 3:1 aqua regia digestion and trace level ICP-AES (inductively coupled plasma atomic emission spectroscopy) analysis (ALS method ME-MS41). Samples with overlimit Ag, Cu, Zn or Pb were reanalyzed using ore-grade aqua regia digestion and ICP-ES (inductively coupled plasma emission spectroscopy) analysis (ALS method OG46). In samples where Ag was more than 1,500 g/t, a further overlimit test was preformed using a gravimetric finish (ALS method Ag-GRA-21). Quality control procedures at the lab consisted of testing certified reference material (CRMs), blank material and duplicates with each batch (at least 1:20). A review of results from the laboratory-run quality control program indicate that the quality of the data produced was within the laboratory specifications, and of sufficient quality to be reliable and useful for the current study. ALS Labs is an ISO9001 accredited analytical laboratory and is independent of the company.

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.

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