Teako Minerals Successfully Concludes Yellow Moose Diamond Drill Program, Encountering Intervals of Epithermal-Style Alteration

Vancouver, British Columbia--(Newsfile Corp. - September 28, 2023) - TEAKO MINERALS CORP. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce that the inaugural drill program has been completed at the Yellow Moose Gold Project. A total of five, HQ diameter diamond drill holes were completed for a total of 772 meters drilled. The 100% owned Yellow Moose project is within the Nechako Plateau region of north-central British Columbia, 150 km southwest of the city of Prince George and 75 km southwest of the town of Vanderhoof.

Kristian Whitehead, Teako's VP of Exploration, commented, "Several of our drill holes encountered alteration including silicification, clay alteration and pyrite, both disseminated and vein controlled, all consistent with an epithermal system. We are proud of our team's effective and efficient execution of this first drill program at Stubb Bay. The additional challenge of working during a wildfire emergency highlights their dedication and professionalism."

Highlights:

• Drilling was focused on the Stubb Bay occurrence, one of several prospective areas that define an 18 km gold geochemical trend within the Yellow Moose Property.

• Drilling encountered several zones of intense silicification, clay alteration and pyrite mineralization with rare pyrrhotite and chalcopyrite.

• Samples have been submitted for analysis to SGS Canada Labs in Burnaby, British Columbia, with results expected in Q4.

Drill Program Summary:

The drill program comprised five drill holes totalling 772 metres and tested the Stubb Bay occurrence (Figure 1). The target exploration model at the Property is a low-sulphidation epithermal gold system. Stubb Bay is defined by historical work in 1994 that included a trench (two metres of 2.87 grams per tonne of gold) and one shallow drill hole (6.1 metres of 0.50 gram per tonne of gold). Additionally, stockwork quartz veined outcrops are found spread along the shoreline of the adjacent Knewstubb Lake reservoir. This historical work is compiled from publicly available reports and, although unverified, is considered valid for exploration purposes. Inland, an abundance of quartz-breccia and silicified boulders are present that display similarities to those seen on the shoreline. Recent work in 2020 and 2021 revisited the area and further outlined the target with a program of Ah soil sampling. Due to evacuation orders triggered by the nearby active wildfires, crews and core were removed from the property and core sampling was prioritised to the most promising intervals. Due to fire evacuation requirements the Company did not reach the targeted depth of drill hole YM23-05, which was terminated within prospective zones of silicification, clay alteration and pyrite mineralization. All other drill holes achieved their desired depths. Samples were collected from the majority of the holes drilled including the entirety of holes YM23-02 and YM23-05 and the majority of holes YM23-01 and YM23-05. Hole YM 23-03 was not sampled at this time. The Company intends to complete the sampling in the future. All holes except for YM23-03 are plotted in cross-section in Figure 2 and in plan view in Figure 3 with sampled intervals noted. Hole YM 23-03 intersected mostly weakly altered to fresh andesite volcanics. The collar locations are presented in Table 1.

Figure 1: Diamond Drill Plan

 
Figure 1: Stubb Bay Area Plan View of Drill Collars & Traces
 
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Table 1:Diamond Drill Collar Table

Table 1: Diamond Drill Collar Table

Figure 2: Diamond Drill Cross Section

 
 Figure 2: Stubb Bay Drilling Cross Section with Lithology, Mineralization & Sampled Intervals Facing Northeast
 
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Discussion:

This initial drill program was designed to test the subsurface projection of the Stubb Bay occurrence that comprised scattered outcrop and float material along the shores of Knewstubb Lake reservoir. The program was flexible, with hole depths and step-outs adjusted as drilling progressed to maximise the area evaluated. The drilling successfully encountered epithermal-style alteration similar to the surface exposures. An unanticipated intrusive unit was encountered, which may play a role in the mineralizing system observed. The size and form of this intrusive unit remain unknown; however, it was also subjected to extensive silicification, alteration and sulfide mineralization events. Stubb Bay is one of several epithermal-gold targets identified on the large Yellow Moose property that outlines an 18-kilometre-long trend.

Figure 3: Drill Plan with Geology and Sample Intervals

 
Figure 3: Stubb Bay Drilling Plan View with Lithology, Mineralization & Sampled Intervals
 
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SGS Laboratories:

Samples have been submitted to SGS Canada Labs for analysis with results expected in the fourth quarter.

Qualified Person:

Kristian Whitehead, P.Geo., is the Company's Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has prepared the technical information presented in this release and was the project manager for the drill program. Additional commentary and data verification statements were presented in news releases dated July 21, 2023, and September 5, 2023 and filed on SEDAR and the Company's website.

About Teako Minerals Corp.:

Teako Minerals Corp. is a Vancouver-based mineral exploration company committed to acquiring, exploring, and developing mineral properties in Canada, Norway & Finland exploring for Gold, Copper & Cobalt. The adoption of advanced technologies such as the SCS Exploration Product aligns with its strategy to remain at the forefront of the rapidly evolving mining industry.

ON BEHALF OF TEAKO MINERALS CORP.

"Sven Gollan"
CEO
T: +43 5522 500429

Email: sven.gollan@teakominerals.com

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Teako. Forward-looking information is based on certain key expectations and assumptions made by the management of Teako. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include Although Teako believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Teako can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the mineral exploration industry in general (e.g., operational risks in development, exploration and production; the uncertainty of mineral resource estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), constraint in the availability of services, commodity price and exchange rate fluctuations, changes in legislation impacting the mining industry, adverse weather conditions and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. These and other risks are set out in more detail in Teako's interim Management's Discussion and Analysis dated July 31, 2023. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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