Mr. Dino Cremonese reports

PRIVATE PLACEMENT -- ERIC SPROTT TO INVEST $9 MILLION AT $3.00 PER SHARE

Teuton Resources Corp. intends to complete a non-brokered private placement consisting of the issuance of three million shares at a price of $3 per share for gross proceeds of $9-million. The private placement is subject to regulatory approval, including, but not limited to, the approval of the TSX Venture Exchange, and all securities issued pursuant to the private placement will have a hold period of four months and one day.

The private placement is with Eric Sprott's numbered company, 2176423 Ontario Ltd., which is already a substantial shareholder of Teuton. Pursuant to an early warning report filed on July 10, 2020, Mr. Sprott beneficially owns and controls 6,611,000 shares and 3.5 million share purchase warrants of the company. After the completion of the private placements, Mr. Sprott will beneficially own and control 9,611,000 shares and 3.5 million share purchase warrants of the company, representing approximately 19.2 per cent on a non-diluted basis and 24.5 per cent on a partially diluted basis, assuming the exercise of all warrants. Mr. Sprott has also agreed to sign a support agreement with the company in regard to a merger, takeover bid, amalgamation, plan of arrangement, business combination or similar transaction that may arise over the next two years.

There are no finders' fees or other commissions associated with the transaction. The proceeds of the financing will be used: to explore the company's many properties in the Golden Triangle region of northwestern British Columbia; to invest in acquiring new resource opportunities within the Golden Triangle; and for general working capital.

About Teuton Resources Corp.

Teuton Resources 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.

We seek Safe Harbor.