Update Re Option Agreements—golden Triangle Properties
TEUTON RESOURCES CORP.
2130 Crescent Road
Victoria, BC V8S 2H3
Phone: (778) 430-5680
Website: www.teuton.com
NEWS RELEASE—Correction to Previous Release of Aug. 6, 2019
UPDATE RE OPTION AGREEMENTS—GOLDEN TRIANGLE PROPERTIES
Vancouver, Canada – August 6 , 2019 – Teuton Resources Corp. (“Teuton” or “the Company ”)
(“TUO”-TSX-V) ("TUC"- Frankfurt) corrects the update to its earlier news release of today regarding the
status of several of its opt ion agreements on its properties in the Gol den Triangle, northwestern British
Columbia. There was a mistake in the total of shares of Tudor Gold that would accrue to Teuton i f the
four option agreements proceeded to full term. Corrected amounts are included below:
Tudor Gold Option Agreements
Tudor Gold Corp. ("Tudor") and the Company have agreed to further amend the terms of four option
purchase agreements on the Orion, Fairweather, Delta and High North properties, situated south of the
KSM property of Seabridge Gold and west of the Brucejack-Snowfield property of Pretium Resources.
The Company and Teuton have entered into amending agree ments (collectively, the " Amending
Agreements") to revise terms covering cash and share payments that were due as well as, in two of the
property option agreements , future payments. Share and cash payment schedules are amended as
follows, subject to the approval of the TSX Venture Exchange ("TSX-V").
1. Orion Property: 175,000 shares to be issued within five business days of Tudor receiving TSX-V
approval of the Amending Agreement; all other provisions of the Orion Agreement shall remain
unchanged
2. Fairweather Property: 200,000 shares to be issued within five business days of Tudor receiving
TSX-V approval of the Amending Agreement; all other provisions of the Fairweather Agreement
shall remain unchanged.
3. Delta Property: 200,000 shares to be issued within five business days of Tudor receiving TSX-V
approval of the Amending Agreement; $100,000 to be paid on or before March 1, 2020; $200,000
to be paid on or before March 1, 2021; and $300,000 to be paid on or before March 1, 2022.
4. High North Property: 200,000 shares to be issued within five business days of Tudor receiving
TSX-V approval of the Amending Agreement; $100,000 to be paid on or before March 1, 2020;
$200,000 to be paid on or before March 1, 2021; and $300,000 to be paid on or before March 1,
2022.
Under the terms of the Amending Agreements, Tudor, in order to exerc ise the four property option
agreements, must pay an additional agg regate sum of $1,890,000 (the final payment is in 2022) and
issue an additional aggregate of 600,000 common shares.
Dino Cremonese, P.Eng, President of Teuton commented: “The 775,000 shares we will receive upon
regulatory approval brings our present holdings of Tudor Gold to 2, 975,000 shares. If the four option
agreements go to the full term, this will increase to 3,575,000 shares. As Tudor Gold owns 60% of the
Treaty Creek property, our Tudor shareholdings represent a welcome indirect interest in this exciting gold
property which complements our present 20% carried interest (fully carried until a production decision is
made) and 0.98% Net Smelter Royalty in the core portion of Treaty Creek.”
Pretium Resources Option Agreements
In July of 2019, Pretium made the final payment of $400,000 of the $1 ,800,000 total purchase price
earning a 100% interest in the King Tut, Tuck and Silver Crown west properties, situated south of
Pretium’s Valley of the Kings gold mine . Teuton retains a 2% NSR in the properties, no part of which
can be bought back by Pretium.
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. Eight of these properties are currently under option to third parties. Optioned
properties and properties where optionees ha ve already earned their interest, have generated cash
proceeds of a little under $2.4 million since 2015, not including the value of shares received from the
optioning companies
Teuton was the original staker of the Treaty Creek property assembling the core land position in 1985. It
presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision
is made) as well as a 0.98% NSR in the claims covering the Goldstorm zone. A 0.49% NSR is owned in
the peripheral claims.
Shareholders and other interested parties can access information about Teuton at the Company’s
website, www.teuton.com.
"Dino Cremonese, P.Eng."
Dino Cremonese, P.Eng.,
President and Chief Executive Officer
For further information, please visit the Company's website at www.teuton.com or contact:
Barry Holmes
Director 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.