Update on 2023 Surface Exploration of Silver Grail’s Properties Located East of Stewart in the Golden Triangle
SILVER GRAIL RESOURCES LTD.
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (778) 430-5680
Website: www.silvergrail.com
NEWS RELEASE
Update on 2023 Surface Exploration of Silver Grail’s Properties
Located East of Stewart in the Golden Triangle
October 2, 2023 Victoria, Canada –– Silver Grail Resources Ltd. (“Silver Grail”) (“SVG”-TSX-V) (“the
Company”) announces that it has completed surface exploration on some of its many properties located
east of Stewart in the Golden Triangle region of northwestern British Columbia. These include the Clone,
Fiji and Konkin Silver properties, all of which have shared ownership with Teuton Resources Corp. The
properties were prospected and sampled with emphasis on zones recently exposed by retreating ice.
In addition, Silver Grail and Teuton also staked the 856 hectare Kswhan property in July after it came open.
It lies between the Clone property and Goliath’s Golddigger property.
This region of the Golden Triangle area has become more prominent in recent years, largely due to the
efforts of Dolly Varden Silver Corporation and Goliath Resources Limited. These two companies have
drilled over 60,000 metres in 2023 at their Homestake Ridge-Dolly Varden and Golddigger properties,
respectively. Recent drill results from Dolly Varden Silver have continued to expand their silver zones.
During Silver Grail-Teuton’s property examination of the jointly-owned Fiji property, a string of fresh drill
pads was observed on neighbouring Dolly Varden Silver claims extending northwest of their Homestake
Main deposit. These drill pads had several rigs on them ostensibly testing the northwestern extension of
what is known as the “Kitsault Valley Trend”, a trend which continues from the Dolly Varden and Torbrit
Silver mines northwestward into the Homestake Main and beyond into Teuton and Silver Grail’s Fiji
property (see map, URL below). Goliath Resources has also been successful in 2023. They recently
reported that 42% of the 98 holes drilled so far in 2023 contained visible gold. Goliath is also investigating
new mineralized zones which recently emerged from ice cover, two of which are on claims which bound
properties owned by Silver Grail and Teuton.
A first batch of assay data from sampling has been received from 2023 prospecting on Silver Grail-Teuton’s
Clone property. These include 25 grab samples from an area of the Clone property that has seen only light
exploration to date and which is hypothesized as being distal to a porphyry copper zone. Results for
copper show a range from 66 to 4,450 ppm with an average of 1,640 ppm (0.16% Cu); for silver, a range
from 0.20 to 6.24 ppm with an average of 2.34 ppm, and; for gold, a range from 10 to 1,480 ppb gold with
an average of 213 ppb gold. More samples have been sent in for assay.
Silver Grail and Teuton have owned the Clone property jointly since first staking in 1994-5. An optionee
of the property eventually earned a 50% interest, leaving Teuton and Silver Grail owning 25% each. The
interest earned by the optionee was later put up for sale in 2019 when the owner changed its business
from mineral exploration to biopharma; it was subsequently acquired by Teuton for $200,000. Silver Grail
now will pay Teuton $100,000 (plus interest) to acquire an additional 25% interest, which would leave both
companies reverting to their previous joint ownership (50-50).
A claim map (drawn before the Kshwan was acquired) shows properties held by Teuton and Silver Grail in
this area of the Golden Triangle and can be viewed here: http://teuton.com/StewartEastmap .
Qualified Person
Dino Cremonese, P . Eng., is the Qualified Person for Teuton Resources; as President and CEO of Teuton, he
is not independent of the Company..
Respectfully submitted,
"Dino Cremonese, P .Eng."
Dino Cremonese, P . Eng.,
President and Chief Executive Officer
Silver Grail Resources Ltd
For further information, please visit the Company's website at www.silvergrail.com or contact:
Barry Holmes
Corporate Development and Communications
Tel. 778-430-5680
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements regarding Forward-Looking information
Certain statements contained in this press release constitute forward-looking information. These statements relate
to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements relating to matters that are not historical facts
are intended to identify forward-looking information and are based on the Company's current belief or
assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
All statements relating to future plans, objectives or expectations of the Company are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the Company's plans or expectations
include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of
equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general
economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals
and other risks detailed herein and from time to time in the filings made by the Company with securities regulators.
The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise except as otherwise required by applicable
securities legislation.