Updated Mineral Resource Estimate for Treaty Creek Project, with Higher-Grade Sensitivities

The most recent news release (January 22, 2026) details an updated Mineral Resource Estimate (MRE) for the Treaty Creek Project, a Joint Venture where Teuton holds a 20% carried interest and Tudor Gold holds 60%. - Resource Growth: Indicated Mineral Resources for gold increased by 15% compared to the 2024 estimate. - The Numbers: The Indicated category now boasts 24.9 million ounces of gold, 148.7 million ounces of silver, and 3.048 billion pounds of copper. - Grades: The Indicated tonnage is 912.3 million tonnes grading 0.85 g/t gold, 5.07 g/t silver, and 0.15% copper. - Inferred: An additional 4.0 million ounces of gold are in the Inferred category. - Next Steps: Metallurgical testing is ongoing, and mine planning has commenced targeting a Preliminary Economic Assessment (PEA) later in the year. The initial mine plan targets a 300,000 oz/year gold operation.

This news is Material - Positive. - Validation of Scale: The increase to nearly 25 million ounces of Indicated gold cements Treaty Creek (specifically the Goldstorm Deposit) as one of the largest undeveloped gold-copper projects in the world. For a junior company with a market cap under $120M, holding a 20% carried interest in an asset of this magnitude is the primary value driver. - De-risking: Moving ounces from Inferred to Indicated significantly de-risks the project, a necessary step for the upcoming PEA. The mention of higher-grade sensitivities (e.g., at $125 NSR cutoff, grades jump to 1.78 g/t Au) suggests optionality in mine planning to improve economics. - Partner Performance: The update confirms that the operator, Tudor Gold, is effectively advancing the asset, which is crucial since Teuton relies on Tudor to fund exploration until a production decision.

Teuton Resources is a project generator focused on the Golden Triangle in British Columbia. - Flagship Asset: 20% Carried Interest in the Treaty Creek Project (JV with Tudor Gold 60% and American Creek 20%). - Project Details: Treaty Creek hosts the Goldstorm deposit, a massive gold-copper-silver porphyry system. It neighbors Seabridge's KSM and Newmont's Brucejack. - Carried Interest Structure: Tudor Gold pays all exploration and development costs until a production decision is made. This prevents dilution for Teuton shareholders during the expensive exploration/drilling phase. - Secondary Assets: Teuton owns numerous other properties (Ram, Clone, etc.) and royalty interests in the Golden Triangle, though many are being spun out to separate vehicles (Luxor Metals, etc.) to unlock value.