(TheNewswire)
March 18, 2018 / TheNewswire / Vancouver, BC:
Teuton Resources Corp. (“Teuton” or “the Company”)
(“TUO”-TSX-V) ("TUC"- Frankfurt), in conjunction with
joint owner Silver Grail Resources Ltd., has agreed to option the Silver Crown property to Auramex Resources Corp. (“Auramex”)
subject to TSX approval.
The option, by which Auramex can acquire a 100% interest in the Silver Crown property, involves an initial payment of $10,000 and the issuance of 100,000 shares upon Exchange acceptance,
to be divided equally between Teuton and Silver Grail. To complete the option, payments aggregating a further $110,000 and
400,000 shares are required over the next four years, again to be divided equally. The vendors will retain a 2% NSR, one half of
which can be bought down for $1 million, with a minimum advance annual royalty of $50,000 to begin after 7 years.
The Silver Crown property consists of 11 claims. It is distinct from Teuton and Silver Grail’s Silver
Crown 6 claim which remains under option to Decade Resources.
The Auramex geological team is planning to integrate the newly acquired Silver Crown property into its
exploration program along the Bear Valley and American Creek corridor. Currently, the team is finalizing its data compilation and
preparing for the 2019 field season, which includes permitting for diamond drilling.
The Qualified Person for this news release is Dino Cremonese, P.Eng., who as President of Teuton
is not independent of the Company.
About Teuton
Teuton owns
interests
in more than
thirty
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. Eleven of its
properties
are
currently
under option
and cash proceeds
from these
options are
just under $2
million
since 2015, not
including
the value of
shares
received from
the optioning
companies.
Shareholders
and other
interested
parties can
access
information
about Teuton at
the Company’s
website,
www.teuton.com.
Respectfully:
“Dino Cremonese,
P.Eng.”
President,
Teuton
Resources
Corp.
Fo rmore
information
contact
Investor
Relations at
778-430-5680 or barry@teuton.com
If you would
like to be added
to
Teuton’s
news
distribution
list,
please
send your
email
address to
dino@teuton.com
This news
release
includes
certain
forward-looking
statements
concerning the
future
performance of
our business,
its operations
and its
financial
performance and
condition, as
well as
management’s
objectives,
strategies,
beliefs and
intentions.
Forward-looking
statements
are
frequently
identified by
such words as
“may”, “will”,
“plan”,
“expect”,
“anticipate”,
“estimate”,
“intend” and
similar
words
referring to
future
events and
results.
Forward-looking
statements
are based on
the current
opinions and
expectations
of management.
All
forward-looking
information
is inherently
uncertain and
subject to a
variety of
assumptions,
risks and
uncertainties,
including
the
speculative
nature of
mineral
exploration
and
development,
fluctuating
commodity
prices,
competitive
risks and
the
availability
of
financing,
as described
in more
detail in
our recent
securities
filings
available at
www.sedar.com.
Actual events
or results
may differ
materially
from those
projected in
the forward
looking-statements
and we caution
against
placing undue
reliance
thereon.
Teuton
Resources Corp.
does have an ongoing
obligation
to disclose
material
information,
as it becomes
available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
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