11:01:10 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Teuton Resources Corp (2)
Symbol TUO
Shares Issued 57,346,881
Close 2024-02-27 C$ 1.25
Market Cap C$ 71,683,601
Recent Sedar Documents

Teuton Resources begins trading on OTCQB

2024-02-27 12:28 ET - News Release

Mr. Dino Cremonese reports

TEUTON RESOURCES TRADES ON THE OTCQB IN THE USA AND IS "DTC ELIGIBLE" TICKER SYMBOL: "TEUTF"

Teuton Resources Corp. has satisfied OTC Venture Market and DTC requirements, allowing it to trade on OTCQB under the stock symbol TEUTF.

The OTCQB is a United States trading platform that is operated by the OTC Markets Group in New York, and is an established marketplace for early-stage and developing U.S. and international companies. Participating companies must be current in their reporting, and undergo an annual verification and management certification process. The OTCQB Venture quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. Investors can find real-time quote and market information for Teuton Resources at the OTC Markets website.

Teuton Resources has also received DTC eligibility by the Depository Trust Company for its shares traded on the OTCQB.

The DTC is a subsidiary of the Depository Trust & Clearing Corp., and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. Being DTC eligible is expected to greatly simplify the process of trading and transferring the company's common shares on the OTCQB.

Dino Cremonese, PEng, president of Teuton Resources, commented as follows: "The company has been actively involved in the Golden Triangle, one of the most mineralogically endowed regions in the world, for the past 40 years. In the 1980s, it acquired by staking over 30 mineral properties, some of which are now showing great promise. Foremost among these is the Treaty Creek property presently in advanced exploration with well over $100-million spent to date. Teuton also holds many royalties in surrounding properties and is also planning a spinout of a group of its properties called the Luxor project, which appears to be prospective for copper and copper-gold deposits.

"For these reasons I am enthused that Teuton is now OTCQB-listed and has attained DTC eligibility, an important step for increasing our reach with potential investors and institutions throughout the United States and abroad."

About Teuton's holdings at Treaty Creek -- royalties in Treaty Creek and nearby properties

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 company's Feb. 20, 2024, news release, the Goldstorm deposit has an indicated mineral resource (as defined in National Instrument 43-101) of 27.87 million ounces (Moz) of gold equivalent (AuEq) within 730.2 million tonnes (Mt) at a grade of 1.19 grams per tonne (g/t) AuEq, composed of 21.66 Moz of gold (Au) at 0.92 g/t, 128.73 Moz of silver (Ag) at 5.48 g/t and 2.87 billion pounds of copper (Cu) at 0.18 per cent Cu, and an inferred mineral resource (as defined in NI 43-101) of 6.03 Moz of AuEq within 149.61 Mt at a grade of 1.25 g/t AuEq, composed of 4.88 Moz of Au at 1.01 g/t, 28.97 Moz of Ag at 6.02 g/t and 503.23 million pounds (Mlb) of Cu at 0.15 per cent. The Goldstorm deposit remains open in all directions and requires further exploration drilling to determine the size and extent of the deposit.

Note: AuEq equals Au g/t plus (Ag g/t times 0.0098765) plus (Cu parts per million (ppm) times 0.0001185).

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).

About Teuton Resources Corp.

Teuton owns interests in more than 30 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, has provided Teuton with substantial income.

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