Treaty Creek 2025 Year End Review and Strategy for 2026

The news release dated December 18, 2025, provides a comprehensive year-end review for the Treaty Creek project and a strategic roadmap for 2026. Teuton’s operator and joint venture partner, Tudor Gold, successfully completed its 2025 drilling program (5,052 meters) which confirmed higher-grade gold structures at the Goldstorm Deposit. Critically, Tudor Gold has shifted its development strategy toward a mid-size underground operation (10,000 tonnes-per-day) rather than a larger, more capital-intensive open pit. Tudor Gold also closed $24.5 million in financing to fund 2026 activities. Teuton announced its intention to spin out all non-Treaty Creek mineral properties, royalty interests, and real estate into new entities. This corporate restructuring is explicitly intended to allow the market to value the 20% carried interest in Treaty Creek independently and potentially facilitate a takeover by Tudor Gold, following Tudor’s recent acquisition of American Creek Resources.

• Strategic Shift: The move toward an underground mining model at Goldstorm is a pivot aimed at reducing initial capital expenditures and accelerating the timeline to production. This is generally positive for a junior partner like Teuton, whose 20% interest is carried to a production decision.
• Corporate Restructuring: The planned spinouts of royalties and non-core assets effectively transform Teuton into a pure-play vehicle for its 20% interest in Treaty Creek. This simplifies the company for potential acquirers (specifically Tudor Gold) and provides shareholders with direct exposure to different asset classes.
• Financing Strength: Tudor Gold’s successful $24.5 million raise ensures that the 2026 exploration and permitting work is fully funded, removing the immediate risk of project stagnation.
• Valuation Catalyst: The announcement of an updated Mineral Resource Estimate (MRE) in January 2026 is a near-term material catalyst that will incorporate 15,000 meters of drilling from 2024-2025.
• Land Use Conflict: The news confirms ongoing negotiations with Seabridge Gold and the government regarding land use conflicts (proposed tunnels). While "welcome," this remains an unresolved legal and operational risk to the project's long-term infrastructure.

Teuton Resources is a "prospect generator" and royalty holder focused on the Golden Triangle of British Columbia. Its flagship asset is a 20% carried interest in the Treaty Creek property, a joint venture with Tudor Gold (80%). The project hosts the Goldstorm Deposit, a massive gold-copper-silver porphyry system. Teuton is carried for all exploration costs until a production decision is made, meaning it does not need to dilute its shareholders to fund the drilling programs at Treaty Creek. The company also holds a portfolio of over 30 other properties and various NSR royalties.