Teuton Resources Corp V.TUO

Alternate Symbol(s): TEUTF

Metals & Mining Industrial Metals & Minerals

Teuton Resources Corp. is a Canada-based exploration stage company. The Company is in the business of acquiring, exploring and dealing in mineral properties in the province of British Columbia, Canada. It owns interests in more than thirty properties in the prolific Golden Triangle area of northwest British Columbia. The Company’s property portfolio includes, Treaty Creek Property, Eskay Rift Property, Harry Property, Del Norte Property, Lord Nelson Property, Orion Property, Big Gold Property, Tonga Property, Fiji Property, King Tut Property, Tuck Property, High North Property, Delta Property, Fairweather Property, Tennyson Property, Pearson Property, Clone Property, Four J’s Property, Konkin Silver Property, Midas Property, Bay Silver Property, Bonsai Property, Gold Mountain Property, Ram Property, Silver Leduc Property, Stamp Property, and Treaty East Property. The Lord Nelson claims lie immediately north of Teuton’s Del Norte property.

TSXV:TUO - Post by User

Teuton Resources Corp

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Post by Fabeon Jul 22, 2014 11:15pm

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Post# 22772224

Interesting PR...

Teuton closes acquisition of Del Norte-Midas interest

2014-07-22 15:07 ET - News Release

Also News Release (C-SBB) Sabina Gold & Silver Corp

Mr. Dino Cremonese of Teuton reports

DEL NORTE-MIDAS PROPERTY PURCHASE CLOSES

Teuton Resources Corp. has closed its agreement with Sabina Gold & Silver Corp. to purchase Sabina's 50-per-cent interest in the Del Norte-Midas property, located 20 miles east of Stewart, B.C. Teuton has issued 500,000 of its shares to Sabina and has agreed to grant Sabina a 1-per-cent NSR (net smelter royalty) in the property, one-half of which can be repurchased for $1-million. The buyback on the NSR is limited to any time prior to completion of a feasibility study. The TSX Venture Exchange accepted for expedited filing documentation of the purchase and sale agreement between Teuton and Sabina on July 15, 2014.

Teuton plans to conduct a drilling program on the Del Norte property this summer, contingent upon obtaining financing. Past data on the property, which include over 90 diamond drill holes, are extensive. These is currently being reviewed, along with results of a continuing geophysical analysis of past airborne work in order to ascertain drill targets.

Work is already under way on the company's High property, located south and along geological trend of Seabridge Gold's KSM property and Pretium Resources' Brucejack-Snowfield property. There is much freshly exposed ground this year, right in line with the Sulphurets trend, which appears to be heavily altered. One prominent gossan, newly emerging from under the snow and ice, is slated for extensive prospecting and sampling in the coming weeks. Positive results from this work could lead to follow-up diamond drilling, again contingent upon obtaining financing.

In other corporate developments, the company recently held its annual general meeting at which the shareholders voted in the management slate: Ed Kruchkowski, Alexandra Cremonese, Amanda Mullin and Dino Cremonese were all elected as directors. Manning Elliott LLP, Chartered Accountants, was voted in as auditor. Subsequent to the AGM, Mr. Cremonese was appointed as president and chief executive officer, and Ms. Mullin was appointed as the new chief financial officer.

Dino Cremonese, PEng, is the qualified person for the purposes of this news release. He is not independent of the company.

We seek Safe Harbor.

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