(TheNewswire)
Vancouver, Canada – TheNewswire – Teuton Resources Corp. (“Teuton”or “the Company”) (TSV:TUO) (Frankfurt:TFE) has received thefollowing statement from its Joint Venture Partner, Tudor Gold Corp.: “It is with great sadness that we announcethe passing of the Company Founder and Chairman Mr. Walter Storm atthe age of 91. On behalf of our Board of Directors, our leadershipteam and our employees, we extend our sympathies to Walter’s family and friends.”
In 2015, Walter Storm purchased various promisingmining claims near Stewart, B.C. – within an area known as the“Golden Triangle” due to its significant gold deposits. In thefollowing year he closed a qualifying transaction with a publiccompany, which was later renamed TUDOR GOLD Corp. Under hissupervision he advanced Tudor Gold‘s gold exploration anddevelopment efforts. After several successful drill programs completedby the Company, in March 2021 Tudor Gold published an initial mineralresource estimate for its flagship project Treaty Creek, whichconfrimed the Goldstorm Deposit as one of the largest golddiscoveries of the last 30 years [see Teuton Resources press release datedMarch 9, 2021].
Walter held the position as CEO of Tudor Gold untilDecember 2021 and continued to serve the Company as Chairman ofTudor’s Board of Directors until his passing. Mr. Storm was asuccessful entrepreneur with several decades of experience in Africa,Europe, the Middle East, and North America. Throughout his career, Mr.Storm was successfully active across multiple industries, includingthe forest industry in Canada, mining industry in West Africa andCanada, as well as oil production and road transportation from Europeto Central Asia and Russia.
Mr. Storm left his mark in Canada by providing startupfinancing to Osisko Mining for Canadian Malartic, a large gold mine inthe province of Quebec, through a German holding company (Eurasia) inwhich he held a majority ownership and acted as Chairman of theSupervisory Board. During Mr. Storm’s tenure, Eurasia not onlyfunded the startup of Osisko Mining in 2004, but also helped thecompany reach market capitalization of CAD$4.50 Billion before beingsold in 2014.
Ken Konkin, President and CEO of Tudor Gold Corp. Kencommented: “The loss of Walter is felt profoundly, not only by hisfamily, his friends and me, but also by Tudor’s employees andcolleagues who had the privilege of knowing him during his over 60years of devotion to his various business endeavours. Walter will beremembered as a generous, highly ethical and visionary leader who hada keen business sense and had sucessfully built companies in differentindustries. He embodied the spirit of our company with his deep senseof loyalty, his humor and his strong moral compass. Walter‘sexpansive business knowledge allowed him to steer many successfulcompanies in a variety of industries. He was always willing toconsider something new, and if he became involved, Walter wasdetermined to leave it better than he found it. He will bemissed.“
Dino Cremonese, P. Eng., President and CEO of TeutonResources said: “Walter was honourable and fair in all of hisdealings with Teuton. That meant much to me and I will miss him,especially his genial sense of humour. I offer my sincerestcondolences to his family.
“Walter had the foresight to recognize the potentialof the Treaty Creek property at a relatively early stage. He hadalready enjoyed tremendous success at Osisko Mining in 2014 and Ibelieve he thought he could replicate that with Treaty Creek. Although he did not live to see Treaty Creek become a producingmine, he did leave the project in good hands and with a substantialresource. Eight drills are currently turning at Treaty, searchingfor more gold. I am confident that Ken Konkin, CEO of Tudor Gold, willcontinue to advance the project and in so doing help burnishWalter’s reputation as one of Canada’s leading miningentrepreneurs.”
About Teuton
Teuton owns interests in more than thirty properties inthe prolific “Golden Triangle” area of northwest British Columbiaand was one of the first companies to adopt what has since becomeknown as the “prospect generator” model. It has earnedsubstantial income from option payments in the past 6 years.
Teuton was the original staker of the Treaty Creekproperty, host to the large Goldstorm deposit, assembling the coreland position in 1985. It presently holds a 20% carried interest inTreaty Creek (carried until such time as a production decision ismade) and a 0.98% NSR in the Goldstorm deposit area. Interestedparties can access information about Teuton at the Company’swebsite, www.teuton.com .
On Behal f of the Board of Directors of TeutonResources:
"Dino Cremonese, P.Eng."
Dino Cremonese, P. Eng.,
President and Chief ExecutiveOfficer
For further information, please visit the Company'swebsite at www.teuton.com or contact:
Barry Holmes
Director Corporate Development andCommunications
Tel. 778-430-5680
Email: barry@teuton.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 releaseconstitute forward-looking information. These statements relate tofuture events or future performance. The use of any of the words"could", "intend", "expect","believe", "will", "projected","estimated" and similar expressions and statements relatingto matters that are not historical facts are intended to identifyforward-looking information and are based on the Company's currentbelief or assumptions as to the outcome and timing of such futureevents. Actual future results may differ materially.
All statements relating to future plans, objectivesor expectations of the Company are forward-looking statements thatinvolve various risks and uncertainties. There can be no assurancethat such statements will prove to be accurate and actual results andfuture events 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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