Teuton Resources Corp. press release
Silver Crown Property Optioned to Auramex Resources
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(via 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 Crownproperty, 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
Teutonownsinterests inmorethanthirtypropertiesintheprolific"GoldenTriangle"areaofnorthwestern British Columbiaandwas oneofthefirstcompanies toadoptwhathassince becomeknownasthe"prospect generator"model.Elevenofitspropertiesarecurrentlyunderoptionandcashproceedsfromtheseoptionsarejust under$2 million since 2015, notincludingthe value ofsharesreceivedfromthe optioningcompanies.
ShareholdersandotherinterestedpartiescanaccessinformationaboutTeutonattheCompany'swebsite,
www.teuton.com.
Respectfully:
"Dino Cremonese, P.Eng."
President,
Teuton Resources Corp.
Fo rmore information contactInvestorRelationsat778-430-5680 orbarry@teuton.com
Ifyou would like to be added to Teuton's news distribution list, please send your email address to dino@teuton.com
Thisnewsreleaseincludescertain forward-looking statementsconcerning thefuture performanceofour business, itsoperations anditsfinancialperformanceand condition, aswellasmanagement'sobjectives, strategies,beliefsandintentions.Forward-lookingstatementsarefrequentlyidentifiedbysuchwordsas"may", "will","plan","expect","anticipate","estimate", "intend" and similarwordsreferring to future events and results.Forward-looking statementsarebasedon the currentopinions andexpectationsofmanagement.All forward-lookinginformationisinherentlyuncertainandsubjecttoavariety ofassumptions,risksand uncertainties,includingthespeculativenatureofmineralexplorationanddevelopment,fluctuatingcommodity prices, competitiverisksandtheavailability offinancing,asdescribedinmoredetailinourrecentsecurities filingsavailableatwww.sedar.com.Actualeventsorresultsmaydiffermateriallyfrom thoseprojectedinthe forward looking-statements andwe cautionagainstplacing unduereliance thereon. TeutonResources Corp. doeshave an ongoingobligation todisclosematerialinformation, asitbecomesavailable.
The TSXVenture Exchangehas neitherapproved nor disapproved the information contained herein.
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