Teuton Resources Corp. — Capital/Financing Update 1997

Oct 30, 1997

Teuton Resources Corp.

509-675 W. Hastings St.

Vancouver, B.C.

V6B 1N2

"CONTINUOUS DISCLOSURE"

Oct. 26, 1997

BRITISH COLUMBIA SECURITIES COMMISSION

1100-865 Hornby St.

Vancouver, B.C.

V6Z 2H4

Attention: Statutory Filings

Dear Sirs/Ladies:

Re: Teuton Resources Corp. - Material Change Report under section 85(1) of the Securities Act and section 151 of the Securities Rules

1. Date of Material Change: Oct. 16, 1997

2. Press Release: A press release was issued on October 16, 1997 at Vancouver, B.C. A copy is enclosed herewith.

3. Summary of Material Change: Teuton Resources Corp. ("the Company") has received commitments for two private placements, subject to Vancouver Stock Exchange approval.

4. Full Description of Material Change: Teuton Resources Corp. has received commitments from investors to purchase 1,200,000 shares of the Company at $0.25 per share, 850,000 of which are flow-through; each share carries a non‑transferable share purchase warrant entitling the investor to purchase an additional flow-through share of the Company at $0.25 per share, exercisable up until October 16, 1998, or alternatively at $0.29 per share, exercisable up until October 16, 1999.

Funds will be used to explore the Company’s mineral properties and for general corporate purposes.

The private placements are subject to regulatory appro­val.

1. Senior Officer: A senior officer who is knowledgeable about the above material change and this report is Dino Cremonese, President of the Company (telephone: 682-3680).

The foregoing accurately discloses the material change referred to herein.

This statement made at Vancouver, British Columbia.

Yours truly,

Teuton Resources Corp.

“D. Cremonese”

Per: D. Cremonese, P.Eng.

President/Director

cc: Vancouver Stock Exchange

TEUTON RESOURCES CORP.

509 - 675 WEST HASTINGS STREET

VANCOUVER, BC V6B 1N2

Phone: (604) 682-3680 Fax: 682-3992

Toll Free: 1-800-879-2333

Web site: www.teuton.com

N E W S R E L E A S E

October 16, 1997

PRIVATE PLACEMENT

Vancouver, BC - Teuton Resources Corp. has received commitments from investors to purchase 1,200,000 shares of the Company at $0.25 per share, 850,000 of which shares are flow-through; each share carries a non-transferable share purchase warrant entitling the investor to purchase an additional share of the Company at $0.25 per share, exercisable up until Oct. 16, 1998, or at $0.29 per share exercisable up until Oct. 16, 1999.

Funds will be used to explore the Company’s mineral properties and for general corporate purposes.

The private placement is subject to regulatory approval.

ON BEHALF OF THE BOARD

“D. Cremonese”

Dino Cremonese, P.Eng.

President

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.