(TheNewswire)
February 27, 2024 – T heNewswire - Vancouver,Canada –– Teuton Resources Corp. (“Teuton” or “theCompany”) (“TUO”-TSX-V) (“TEUTF” – OTCQB)("TFE"- Frankfurt) is pleased toannounce that it has satisfied OTC Venture market and DTC requirementsallowing it to trade on OTCQB under the stock symbol“TEUTF”.
The OTCQB is a U.S. trading platform that is operatedby the OTC Markets Group in New York, and is an establishedmarketplace for early-stage and developing U.S. and internationalcompanies. Participating companies must be current in their reportingand undergo an annual verification and management certificationprocess. The OTCQB Venture quality standards provide a strong baselineof transparency, as well as the technology and regulation to improvethe information and trading experience for investors. Investors canfind real-time quote and market information for Teuton Resources athttps://www.otcmarkets.com/stock/TEUTF/overview.
Teuton Resources has also received DTC eligibility bythe Depository Trust Company ("DTC") for its shares tradedon the OTCQB.
The DTC is a subsidiary of the Depository Trust &Clearing Corporation and manages the electronic clearing andsettlement of publicly traded companies. Securities that are eligibleto be electronically cleared and settled through DTC are considered“DTC eligible.” This electronic method of clearing securitiesspeeds up the receipt of stock and cash, and thus accelerates thesettlement process for investors and brokers, enabling the stock to betraded over a much wider selection of brokerage firms by coming intocompliance with their requirements. Being DTC eligible is expected togreatly simplify the process of trading and transferring theCompany’s common shares on the OTCQB.
D. Cremonese, P. Eng, President of Teuton Resources,commented as follows: “The Company has been actively involved in theGolden Triangle, one of the most mineralogically endowed regions inthe world, for the past forty years. In the 1980’s it acquired bystaking over thirty mineral properties, some of which are now showinggreat promise. Foremost among these is the Treaty Creek propertypresently in advanced exploration with well over $100 million spent todate. Teuton also holds many royalties in surrounding propertiesand is also planning a spin-out of a group of its properties calledthe Luxor Project, which appears to be prospective for copper andcopper-gold deposits.
“For these reasons I am enthused that Teuton is nowOTCQB listed and has attained DTC eligibility, an important step forincreasing our reach with potential investors and institutionsthroughout the United States and abroad.”
About Teuton’sHoldings at Treaty Creek; Royalties in Treaty Creek and NearbyProperties
The Treaty Creek Project contains the Goldstorm Deposit(a large gold-copper porphyry system) as well as several othermineralized zones. As disclosed in the Company’s February 20, 2024News Release, the Goldstorm Deposit has an Indicated Mineral Resource(as defined in NI 43-101) of 27.87 million ounces (Moz) ofAuEq 1 within 730.20 million tonnes (Mt) at a grade of 1.19 g/tAuEq, comprised of 21.66 Moz of Au at 0.92g/t, 128.73 Moz of Ag at 5.48 g/t and 2.87 billion pounds of Cu at0.18% Cu; and, an Inferred Mineral Resource (as defined in NI 43-101)of 6.03 Moz of AuEq within 149.61 Mt at a gradeof 1.25 g/t AuEq; comprised of 4.88 Moz of Au at1.01 g/t, 28.97 Moz of Ag at 6.02 g/t, and 503.23 million pounds(Mlbs) of Cu at 0.15%. The Goldstorm Deposit remains open in alldirections and requires further exploration drilling to determine thesize and extent of the deposit.
1 AuEq = Aug/t + (Ag g/t*0.0098765) + (Cu ppm*0.0001185)
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 inthe Treaty Creek Project (Tudor Gold is responsible for paying allexploration costs up until such time as a production decision is madeand owns a 60% interest; American Creek Resources owns the remaining20% interest, also carried). Additionally, Teuton owns a 0.98% NetSmelter Royalty in the Goldstorm deposit area as well as in thenorthern portion of the Perfectstorm zone; within the southern portionof the Perfectstorm zone, Teuton owns a 0.49% NSR with an option toincrease that to 1.49% by paying $1 million to the current owner. Italso owns numerous additional royalty interests within the SulphuretsHydrothermal system on formerly 100%-owned properties such as the KingTut, Tuck, High North, Orion, Delta and Fairweather properties (KingTut and Tuck now owned by Newmont Mining; High North, Orion, Delta andFairweather properties now owned by Goldstorm Metals).
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. This model minimizesshare equity dilution while at the same time maximizing opportunity. Earnings provided from option payments received, both in cash and inshares of the optionee companies has provided Teuton with substantialincome.
On Behalf of the Board of Directorsof Teuton Resources:
"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: 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 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 costoverruns, availability of capital and financing, general economic,market or business conditions, regulatory changes, timeliness ofgovernment or regulatory approvals and other risks detailed herein andfrom time to time in the filings made by the Company with securitiesregulators. The Company expressly disclaims any intention orobligation to update or revise any forward-looking statements whetheras a result of new information, future events or otherwise except asotherwise required by applicable securities legislation.
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