(TheNewswire)
December 6, 2023 – TheNewswire - Vancouver, Canada – TeutonResources Corp. (“Teuton” or the “Company”) (TSXV: TUO ) (Frankfurt: TFE ) disseminated a newsrelease on Nov. 28, 2023 detailing exploration results from the TreatyCreek property and the Orion property. The Treaty Creek property isowned as to a 20% carried interest by Teuton (it also holds varyingNSR interests in the claims), American Creek Resources which owns anidentical 20% carried interest, and the remaining 60% interest held byTudor Gold Corp. (“Tudor Gold”), which is also the Operator of theTreaty Creek Joint Venture. The Orion property, which used tobelong to Teuton, was optioned to Tudor Gold. Upon Tudor Gold earninga 100% interest in the Orion property, Tudor Gold spun it out toGoldstorm Metals Inc. (“Goldstorm Metals”). Teuton now retains a2.5% Net Smelter Royalty interest in the Orion property; there is nobuyback provision attached to the royalty.
The Nov. 28, 2023 Teuton news release containedtechnical information as regards the Treaty Creek property that wasdisclosed on the same date by Tudor Gold, with Ken Konkin, P. Geo.,acting as the qualified person (“QP”) for Tudor Gold for thepurposes of National Instrument 43-101 – Standards of Disclosure for MineralProjects . The Teuton news release alsocontained technical information as regards the Orion property that wasdisclosed by Goldstorm Metals the previous day on Nov. 27, 2023, alsowith Ken Konkin, P. Geo., acting as the QP for Goldstorm Metals. Thedisclosure in the Teuton release as regards Treaty Creek was verbatimas to what was disclosed in Tudor Gold’s release of the same date. The disclosure in the Teuton release as regards the Orion releasewas verbatim as to what was disclosed in the Goldstorm Metals releaseof Nov. 27, 2023, but it also contained an opinion as to thosedisclosures in a comment section by D. Cremonese, P. Eng. andTeuton’s President and CEO, as well as a caption which was not inthe Goldstorm Metals release.
In the Nov. 28, 2023 release Teuton stated that“ The Qualified Person forthis news release for the purposes of National Instrument 43-101 isTudor Gold’s President and CEO, Ken Konkin, P.Geo. He has read andapproved the scientific and technical information that forms the basisfor the disclosure contained in this news release . D. Cremonese, P. Eng., is the QualifiedPerson for Teuton Resources Corp. (as President of the Company he isnot independent of the Company). Mr. Cremonese has not personallyverified the technical data in the news release but has no reason todoubt its accuracy .”
This statement was inaccurate because it suggests thatKen Konkin approved the Teuton news release, when in fact he onlyapproved the scientific and technical information in the originalTudor Gold news release and the original Goldstorm Metal news release. Mr. Konkin gave no specific approval of the technical information inthe Teuton news release. Teuton now retracts the parts of thatstatement that refer to Ken Konkin as having approved the Teuton newsrelease and apologizes for any confusion.
The QP statement in the Teuton news release should haveread as follows:
Mr. Ken Konkin, P. Geo., is the QP for Tudor GoldResources and Goldstorm Metals Inc. and, as indicated in news releasesdated Nov. 28, 2023 by Tudor Gold and Nov. 27, 2023 by GoldstormMetals, Mr. Konkin has approved the technical information disclosed inthose news releases. D. Cremonese, P. Eng., is the Qualified Personfor Teuton Resources Corp. (as President of the Company he is notindependent of the Company) for the purposes of this Company newsrelease. Mr. Cremonese has not personally verified the technicaldata included in this Company news release that is reproduced verbatimfrom the Tudor Gold and Goldstorm Metals news releases, but Mr.Cremonese has no reason to doubt its accuracy. Any comments made byD. Cremonese, P.Eng. as regards the technicaldata initially disclosed in the Tudor Gold and Goldstorm Metals newsreleases are his own opinion.
Comments made as to the Orionproperty in Nov. 28, 2023 Teuton Release.
The Nov. 28, 2023 Teuton news release stated thefollowing in the section of the release dealing with technicaldisclosure on the Goldstorm Resources Orion property (initalics):
Ken Konkin,P.Geo., President and CEO of Goldstorm Metals commented: “Mineralization and textures observedat the Copernicus Zone closely resemble those found in volcanogenicmassive sulphide (VMS) deposits such as the Granduc and Windy Craggydeposits, which are classified as Besshi-type VMS systems, with acomparable metallogenic assemblage to that at the Copernicus Zone.However, it is very early in the exploration phase and further mappingand sampling will be required to make final determinations on thecharacterization of the precious and base-metal mineralization at ournew discovery. Additional geological observations suggest that thismineralization may also have been re-mobilized and deposited alongnortherly tectonic shear systems parallel to the orientation of theOrion Spine. The Copernicus Zone was traced for approximately 400 malong the upper Orion Spine. The Company has constructed a drill padto initiate a drill program as part of the 2024 exploration program onthe Copernicus Zone. Details of the proposed drilling will bedetermined prior to the 2024 drilling season.”
D. Cremonese, P. Eng., President ofTeuton said: “The discovery of Besshi-type, VMS mineralization atthe Orion is important not only because of Teuton’s 2.5% Net SmelterReturn royalty (which is not encumbered by a buybackprovision ), but because it suggests potential fordiscovery of similar VMS mineralization within the 15km long spansituated between the formerly producing Granduc mine and the Orionproperty. Teuton owns mostof the ground in this trend, including properties such as the LeducSilver, Pearson, Big Gold, Eskay Rift, Tennyson and Four J’s, manyof which have sizeable geophsycial anomalies on them, none of themwhich yet been drill-tested.“
Goldstorm Metals has objected to the comment made by D.Cremonese, P. Eng., because it implies that the mineralizationdiscovered by Goldstorm Metals has definitively been established asBesshi-type, when that characterization was qualified by Mr,Konkin’s entire statement, as produced above. Goldstorm Metalsalso objects to the use of the word “Besshi-type” in the captionof the news release.
Accordingly, Teuton Resources retracts the firstsentence of Mr. Cremonese’s comment, and replaces it with: “Thediscovery of massive sulfide mineralization at the Orion is importantnot only because of Teuton’s 2.5% Net Smelter Return royalty (whichis not encumbered by a buyback provision), but because it suggestsadditional potential for discovery of similar massive sulfidemineralization within the 15km long span situated between the formerlyproducing Granduc mine and the Orion property, as indicated by otherexploration results within the area in past years.”
Also, the caption to the news release which states, inpart: Orion Property –Discovery of the “Copernicus” zone Copper-rich VMS (Besshi-type)mineralization is retracted and replaced by Orion Property – Discoveryof the “Copernicus” zone Copper-rich Massive SulfideMineralization.
Teuton owns interests in more than thirty properties in the prolific“Golden Triangle” area of northwest British Columbia and was oneof the first companies to adopt what has since become known as the“prospect generator” model. This model minimizes share equitydilution while at the same time maximizing opportunity. Earningsprovided from option payments received, both in cash and in shares ofthe optionee companies over the past 6 years, has provided Teuton withsubstantial income.
Qualified Person
D. Cremonese, P. Eng., is the Qualified Person forTeuton Resources Corp. (as President of the Company he is notindependent of the Company) for the purposes of National Policy 43-101-- Standards of Disclosurefor Mineral Projects.
On Behalf of the Board of Directorsof Teuton Resources:
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng., Presidentand Chief Executive Officer
For further information, please visit the Company's website atwww.teuton.com or contact:
Director Corporate Development and Communications
Tel. 778-430-5680
Email: bholmesmba@gmail.com
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Cautionary Statements regardingForward-Looking information
Certain statements contained in this press release constituteforward-looking information. These statements relate to future eventsor future performance. The use of any of the words "could","intend", "expect", "believe","will", "projected", "estimated" andsimilar expressions and statements relating to matters that are nothistorical facts are intended to identify forward-looking informationand are based on the Company's current belief or assumptions as to theoutcome and timing of such future events. Actual future results maydiffer materially.
All statements relating to future plans, objectives or expectationsof the Company are forward-looking statements that involve variousrisks and uncertainties. There can be no assurance that suchstatements will prove to be accurate and actual results and futureevents could differ materially from those anticipated in suchstatements. Important factors that could cause actual results todiffer materially from the Company's plans or expectations includerisks relating to the actual results of current explorationactivities, fluctuating gold prices, possibility of equipmentbreakdowns and delays, exploration cost overruns, availability ofcapital and financing, general economic, market or businessconditions, regulatory changes, timeliness of government or regulatoryapprovals and other risks detailed herein and from time to time in thefilings made by the Company with securities regulators. The Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking statements whether as a result of new information,future events or otherwise except as otherwise required by applicablesecurities legislation.
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