VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 5, 2014) - Teuton Resources Corp. ("Teuton") (TSX VENTURE:TUO)(TFE.F)(TEUTF) after consultations with its shareholders will be cancelling the private placement announced on July 29, 2014. The combined flow-through and non flow-through share offering was considered too complex.

A new private placement will be entered into comprising an offering of 9,000,000 units (each a "Unit) at a price of $0.05 per Unit, for gross proceeds of up to $450,000 (the "Offering"). Each Unit will consist of one common share of Teuton and one common share-purchase warrant; each warrant will entitle the holder to purchase one additional common share of Teuton at a price of $0.07 for a period of twelve (12) months after the closing of the Offering, and thereafter at a price of $0.10 until twenty-four (24) months after the closing of the Offering.

A finder's fee, up to the maximum allowable under TSX Venture policy, may be payable in regard to the Offering. Insiders of the Company may be taking part in the Offering. All securities issued by the Offering will be subject to a hold period of four months plus one day. The Offering is subject to regulatory approval.

Net Proceeds from the Offering will be used principally to fund exploration of the Company's mineral properties in the Stewart area of northwestern British Columbia. In addition, net proceeds from the Offering may be used for general corporate purposes, including an interim payment on account of costs to the plaintiff in regard to the recent litigation on the Treaty Creek property. The main costs hearing for that litigation is scheduled for November 3, 2014, wherein the plaintiff will be seeking a substantially higher award of costs and which the Company will be opposing.

About Teuton:

Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwestern British Columbia. One of its core holdings comprises ground staked in the mid-1980s along extensions of favourable geology to the north and south of the KSM property (owned by Seabridge Gold) and the Brucejack-Snowfield property (owned by Pretium Resources). On July 30, 2014, the Globe and Mail reported that, "The British Columbia government has granted environmental approval for a proposed $5.3-billion mine [the KSM Project] in the province's north, which would tap into one of the largest gold and copper deposits in the world and has already received support from local First Nations." The Sulphurets Fault, which is related to all of the copper-gold deposits on the KSM property, passes south for at least 8km into Teuton's High and Orion properties.