Current Presentations
Wednesday April 19, 2006
Geophysical Targets Identified On Clone Property
Teuton Resources Corp. (“TUO:TSX-V”) (“Teuton”) and Silver Grail Resources Corp. (“SVG:TSX-V”) (“Silver Grail”) are pleased to announce that several promising geophysical targets have been identified on the Clone property, currently under option to Canasia Industries Corporation (“CAJ.H:TSX-V‘) (Canasia). The Clone property is situated 12 miles southeast of Stewart, British Columbia.
Approximately $3 million was spent on the Clone from 1995-98, mostly on drilling of five sub-parallel shears (Main zone) carrying gold and cobalt mineralization. Drilling in the same area in 2003 returned a drill intercept of 27.8 feet grading 2.357 oz/ton gold (see News Release dated Dec. 9, 2003).
Highlights from the interpretation of the recently completed Aeroquest EM and Magnetometer survey carried out over the Clone property are as follows:
At least four new, NW-trending, magnetic lows have been identified, similar to the NW-trending, magnetic low which hosts the high-grade gold-bearing shears in the Main zone.
- One of these, the “Derby zone”, lying 800 metres northeast of the Main zone in an area partially exposed by ablation (meltback of snow and ice) is interpreted as a thrust slice repeating the geological units within the Main zone.
- The Derby is particularly prospective because the airborne survey also detected several parallel conductive (EM) sources within the magnetic low which may be due to mineralization in Clone-type shears.
- Teuton, Silver Grail and Canasia have substantially increased the size of the Clone property by recent staking.
- Ground-truthing of the anomalous geophysical targets is to proceed as soon as field conditions permit. Targets prioritized by this work are to be followed up by diamond drilling.
D. Cremonese, P.Eng., is the Qualified Person for Teuton Resources Corp. in regard to data presented in this News Release.
ON BEHALF OF THE BOARD
“Dino Cremonese”
D. Cremonese, P.Eng.
President
The foregoing securities have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation or sale would be unlawful.
This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. Silver Grail Resource Ltd. And Teuton Resources Corp. do have an ongoing obligation to disclose material information, as it becomes available.
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
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