(TheNewswire)
September 28, 2020 - TheNewswire - Vancouver, Canada – Teuton Resources Corp. (“Teuton” or “the Company”) (TSXV:TUO) (Frankfurt:TFE) announces that it has appointed Ken Konkin, P. Geo., to its Board of Directors, subject to TSX-V approval.
Mr. Konkin is a professional geologist and is a registered member with the Association of Professional Engineers and Geoscientists of British Columbia. He holds a Bachelor’s Degree in Geological Sciences from the University of British Columbia (1984) and has been working in the base and precious minerals industry and mining sector since 1981.
Mr. Konkin has 40 years of geological experience throughout North and South America as well as Russia. He worked for Silver Standard for 19 years and managed advanced exploration programs at Manantial Espejo (Argentina), San Luis and Berenguela (Peru) as well as Snowfields (Pretium) in the Golden Triangle, British Columbia. Mr. Konkin was appointed the project manager for Pretium Resources after it purchased the Snowfields-Brucejack project from Silver Standard in 2010. Subsequently, he was instrumental in the discovery of the Valley of Kings deposit at the Brucejack Lake mine, an eight-million-ounce gold deposit currently in production. He spent seven years managing all aspects of the exploration programs at Snowfield-Brucejack. During his tenure with Pretium, the company received the Bill Dennis award in 2013 recognizing an important and significant mineral discovery in Canada with potential economic viability (presented by the Prospectors & Developers Association of Canada); Mr. Konkin was also the co-recipient of the prestigious H.H. "Spud" Huestis award for "excellence in prospecting and mineral exploration in B.C. and/or Yukon" in 2017.
Currently, Mr. Konkin is employed as Vice-President Project Development at Tudor Gold, Operator of the Treaty Creek project. He is in charge of the exploration program at Treaty Creek wherein six drills are presently exploring for gold, silver and copper mineralization. Tudor Gold owns a 60% interest in Treaty Creek, with Teuton and American Creek each holding 20% carried interests. In addition, Teuton owns a 0.98% NSR in the area including and surrounding the Goldstorm gold-silver-copper deposit at Treaty Creek.
Dino Cremonese, P.Eng., President of the Company, commented as follows: “Ken Konkin has a long association with Teuton, first working for the Company back in 1986 when he discovered the Konkin gold zone at Treaty Creek within just a few hours of starting his first prospecting traverse. This zone yielded many specimens of beautiful, coarse native gold but is not the only such discovery made by Ken for Teuton in those early years. In 2018 he came back to work on Teuton’s Pearson project and he would often accompany me during my visits to Treaty Creek. He really liked the “look” of the diamond drill core there and within the next six months had hired on as Tudor Gold’s top geologist. In the past two years he has had a profound impact on the development at Treaty’s Goldstorm zone—Canadian billionaire Eric Sprott has now invested millions of dollars into the project and is a large shareholder of each of Tudor, Teuton and American Creek. Ken is a superb geologist, a great prospector and also a hard-nosed project supervisor. He will be an important asset to Teuton going forward.”
The Board has authorized and approved the granting of 200,000 stock options to Mr. Konkin exercisable at $2.78 for five years from today’s date.
About Teuton
Teuton owns interests in more than thirty properties in the prolific “Golden Triangle” area of northwest British Columbia and was one of the first companies to adopt what has since become known as the “prospect generator” model. Ten of these properties are currently under option to third parties. Over $4 million in option cash and share payments has been generated from these properties since 2015, including properties where optionees have already earned their interest.
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. None of the NSRs are subject to a buy-back. Teuton also owns eight other royalties in the Sulphurets Hydrothermal System with interests ranging up to 2.5%, none of which are subject to a buyback. Interested parties can access information about Teuton at the Company’s website, www.teuton.com.
Respectfully submitted,
"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: barry@teuton.com
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.
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