The TSX Venture Exchange has accepted for filing documentation in connection with an arrangement agreement dated as of Jan. 23, 2025, among Teuton Resources Corp. and Luxor Metals Ltd., pursuant to which the parties will complete a plan of arrangement under the provisions of the Business Corporations Act (British Columbia).

Under the plan of arrangement, which is fully described in Teuton's management information circular dated March 7, 2025, Teuton shareholders will receive one Luxor common share for every three Teuton common shares that they held as of Feb. 14, 2025.

The exchange has been advised that approval of the plan of arrangement by Teuton's shareholders was received at an annual general and special meeting of shareholders held on April 4, 2025, and that approval of the plan of arrangement was received from the Supreme Court of British Columbia on April 9, 2025. The exchange has been advised that all conditions precedent to completion of the plan of arrangement have been satisfied and that the plan of arrangement will be effected on May 16, 2025.

No common shares of Luxor will be listed on the exchange on closing of the plan of arrangement; however, Luxor has made a separate application to the exchange for the listing of Luxor shares.

The full particulars of the plan of arrangement are set forth in Teuton's management information circular, dated March 7, 2025, which is available on SEDAR+. See also Teuton's news releases dated Jan. 23, 2025, April 14, 2025, and May 14, 2025.

Postarrangement

Capitalization:  unlimited common shares with no par value, of which 57,746,881 common shares are issued and outstanding

Escrowed shares:  nil

Transfer agent:  Computershare Investor Services Inc.

Trading symbol:  TUO (unchanged)

Cusip No.:  88162H 20 0 (unchanged)

Notice of distribution

The issuer has declared the following distribution.

Distribution per three common shares of Teuton:  one common share of Luxor Metals

Payable date:  May 21, 2025

Record date:  Feb. 14, 2025

Ex distribution date:  Feb. 14, 2025

No fractional Luxor shares will be distributed to shareholders of Teuton. All fractional amounts arising under the plan of arrangement will be rounded down to the next whole number.