Stock Option Amendments

Victoria, November 8, 2021 - Teuton Resources Corp. ("Teuton" or "the Company") (TSXV:TUO) (OTC:TEUTF) (Frankfurt:TFE) announces that, in conformance with its 2020 Stock Option Plan, the Company has amended certain incentive stock options previously granted to directors of the Company. On May 7, 2021, 500,000 stock options originally priced at $3.18 per share (exercisable until August 26, 2025) and 200,000 stock options originally priced at $2.78 per share (exercisable until Sept. 28, 2025) had their exercise prices amended to $2.68 per share; these 700,000 stock options are now re-priced to $2.06 per share, six months having passed since the last amendment. All other terms of the original stock option grants remain unchanged. These stock option grant amendments are subject to the approval of the TSX Venture Exchange and the approval of disinterested shareholders at the Company's upcoming Annual General Meeting to be held Dec. 22, 2021.

In addition, 342,500 stock options granted to a director on May 7, 2021 at $2.68 per share exercisable until May 7, 2026, will also be amended. The new exercise price for these 342,500 stock options is now $2.06 per share, all other terms of the original stock option grant remain unchanged. This stock option grant amendment is subject to the approval of the TSX Venture Exchange and the approval of disinterested shareholders at the Company's upcoming Annual General Meeting to be held Dec. 22, 2021.

Teuton's share price closed today on the TSX Venture Exchange at $2.06 a share.

About Teuton

Teuton owns interests in more than thirty properties in the prolific "Golden Triangle" area of northwest British Columbia and was one of the first companies to adopt what has since become known as the "prospect generator" model. Teuton earned $3.9 million net income in 2020 and a further $2.4 million in the first quarter of 2021. Its income is derived from option payments.

Teuton was the original staker of the Treaty Creek property, host to the large Goldstorm deposit, assembling the core land position in 1985. It presently holds a 20% carried interest in Treaty Creek (carried until such time as a production decision is made). Interested parties can access information about Teuton at the Company's website, www.teuton.com.

Respectfully submitted,

"Dino Cremonese, P.Eng."

Dino Cremonese, P. Eng.,

President and Chief Executive Officer

For further information, please visit the Company's website at www.teuton.com or contact:

Barry Holmes

Director Corporate Development and Communications

Tel. 778-430-5680

Email: barry@teuton.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements regarding Forward-Looking information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.

All statements relating to future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

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