American Creek Resources Ltd

Published : June 15th, 2016

AMERICAN CREEK CLOSES TWO JV TRANSACTIONS WITH TUDOR GOLD CORP.

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Keywords :   9/11 | Canada | Cash | Copper | Georgia | Gold | Gold Mine | Junior | Mines | Missouri | Silver | Storm |

AMERICAN CREEK CLOSES TWO JV TRANSACTIONS WITH TUDOR GOLD CORP.

June 14, 2016 TSX-V: AMK

Cardston, Alberta - American Creek Resources Ltd. ('American Creek') is pleased to announce that it has now completed the sale to Tudor Gold Corp. (TSXV: TUD) ('Tudor') of certain of its interests in the Electrum property and the Treaty Creek property, both of which are located in the 'Golden Triangle' in NW British Columbia (refer to our previous news release dated May 11, 2016).

Pursuant to a joint venture agreement entered into with Tudor, American Creek sold an undivided 60% interest in its Electrum property in consideration for 1,000,000 Tudor shares and the payment of $500,000 cash. Tudor also invested $250,000 into American Creek by way of a private placement under which American Creek issued 3,125,000 shares at a price of $0.08 per share to Tudor. All shares issued under this agreement are subject to both a 4 month statutory/regulatory hold period as well as a voluntary hold period which expires May 10, 2017. A 60/40 joint venture has now been formed and Tudor is the operator of the project.

Pursuant to a separate joint venture agreement entered into with Tudor and Teuton Resources Corp. ('Teuton'), American Creek sold an undivided 31% interest in its Treaty Creek property to Tudor in consideration for 500,000 Tudor shares. A joint venture has now been formed with Tudor holding a 60% interest and each of American Creek and Teuton holding a 20% interest in the joint venture. Both American Creek's and Teuton's 20% interests are fully carried during the exploration period until a production notice is given. Thereafter, each will be responsible for 20% of the costs under and subject to the terms of the joint venture. Tudor is the operator of the project. Under the terms of the agreement, Tudor has agreed to complete a minimum of $1,000,000 in exploration expenditures on the Treaty Creek property during 2016. All shares issued under this agreement are subject to both a 4 month statutory/regulatory hold period as well as a voluntary one year hold period.

Darren Blaney, American Creek's CEO, states: 'We are pleased to have closed these two JV transactions with Walter Storm's Tudor Gold Corp. We are very much looking forward to the advancement of both the Treaty Creek and Electrum projects.'

The Treaty Creek property is located immediately adjacent to, and on geological trend with Seabridge Gold's KSM project and north of the Pretivm Resources Brucejack project. The Sulphurets Thrust Fault, which has been identified by BC government geologists as being related to all of Seabridge's KSM property gold-copper deposits, continues northeast through the Treaty Creek property.

The Electrum property is located approximately 45km north of Stewart, British Columbia, near past operating mines including the Riverside, Scotty Gold, Granduc, Big Missouri and Silbak-Premier. The Electrum is road accessible and is only 45km from recently upgraded concentrate shipping port facilities located in Stewart. A new electrical power line currently being constructed by Pretivm Resources runs right up the valley beside the Electrum project and may provide a future source of power. The Electrum property encompasses the historic East Gold Mine which has produced extremely high grades of gold, silver and electrum in the past, over 25 years of small-scale hand mining. Past work completed by American Creek has identified several areas on the property which contain very high grade gold and silver vein systems.

About American Creek
American Creek Resources Ltd. is a Canadian junior mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada.

Further information relating to American Creek is available on its website at www.americancreek.com

For further information please contact:
Kelvin Burton
Phone: 403 752-4040
Email: [email protected].

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Canada | Georgia | All
Gold and Silver Prices for these countries : Canada | Georgia | All

American Creek Resources Ltd

EXPLORATION STAGE
CODE : AMK.V
ISIN : CA0252881010
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American Creek is a silver and gold exploration company based in Canada.

American Creek holds various exploration projects in Canada.

Its main exploration properties are ELECTRUM, TIDE, IRONMIST and TREATY CREEK in Canada.

American Creek is listed in Canada. Its market capitalisation is CA$ 33.3 millions as of today (US$ 24.4 millions, € 22.8 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.61, and its lowest recent point on May 31, 2019 at CA$ 0.03.

American Creek has 229 530 000 shares outstanding.

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Financings of American Creek Resources Ltd
4/16/2015Closes First Tranche of Financing
3/24/2015Announces $480,000 Financing
3/25/2013Closes First Tranche of Private Placement
Option Grants of American Creek Resources Ltd
5/10/2007announces appointment of officer and grant of stock options
Project news of American Creek Resources Ltd
9/17/2012(Treaty Creek)Receives Notice From Seabridge Gold To Negotiate Access Righ...
7/18/2012(Tide)Sells Tide Property For $1.5 Million
5/7/2012ANNOUNCES THAT SETTLEMENT OFFER MADE TO TEUTON RESOURCES COR...
3/1/2012RESPONDS TO TEUTON RESOURCE CORP. NEWS RELEASE
2/24/2012REPORTS THAT TEUTON RESOURCES CORP HAS BACKED OUT OF DISCOVE...
1/9/2012(Treaty Creek)Announces Results From Magnetotelluric Survey on its Treaty ...
6/27/2011(Ironmist)Announces Exploration Programs on the Electrum and Ironmist ...
5/30/2011(Treaty Creek)Authorizes Seabridge Gold to Conduct Geophysical Survey on ...
4/28/2011Quanto Research initiates coverage on American Creek Resourc...
3/25/2011(Electrum)RECEIVES DRILL PERMIT FOR ELECTRUM PROJECT
7/8/2010(Electrum)Samples 694 g/t (20.24 oz/t) gold
1/12/2010(Treaty Creek)Treaty Creek discovery hole runs 241 metres of 0.80 g/t gold
8/20/2007(Tide)Commences exploration on Tide Project
6/6/2007(Electrum)Commences 2007 Electrum Project Drill Program
Corporate news of American Creek Resources Ltd
7/14/2016AMERICAN CREEK RESOURCES ANNOUNCES $300,000 FINANCING
6/29/2016AMERICAN CREEK RESOURCES COMMENCES GOLD HILL PROPERTY EXPLOR...
6/22/2016AMERICAN CREEK REPORTS THAT TUDOR GOLD CORP. HAS COMMENCED D...
6/15/2016AMERICAN CREEK CLOSES TWO JV TRANSACTIONS WITH TUDOR GOLD CO...
5/24/2016AMERICAN CREEK RESOURCES ISSUES INCENTIVE OPTIONS
5/12/2016AMERICAN CREEK’S JV PARTNER BEGINS TRADING ON TSX VENTURE EX...
5/4/2016AMERICAN CREEK RESOURCES MAKES SHARE PAYMENT TO AGORACOM FOR...
4/21/2016AMERICAN CREEK RESOURCES RECEIVES APPROVAL FOR TREATY CREEK ...
4/15/2016AMERICAN CREEK RESOURCES EXPANDS THE D1 - MCBRIDE PROPERTY I...
4/14/2016AMERICAN CREEK RESOURCES NEGOTIATES TREATY CREEK NSR BUYDOWN
1/4/2016American Creek Resources Provides Litigation Update
12/31/2015American Creek Resources Announces Changes to Board of Direc...
11/3/2015AMERICAN CREEK RESOURCES ANNOUNCES SHARES FOR DEBT ARRANGEME...
11/2/2015American Creek Resources Provides Electrum Drill Program Upd...
11/2/2015AMERICAN CREEK RESOURCES PROVIDES 2015 ELECTRUM DRILL PROGRA...
10/5/2015American Creek Commences Drill Program On Electrum Project
10/3/2015AMERICAN CREEK CLOSES FIRST TRANCHE OF FINANCING
10/2/2015American Creek Closes First Tranche of Financing
9/29/2015AMERICAN CREEK RESOURCES ANNOUNCES $150,000 FINANCING
9/10/2015American Creek Resources Corporate Update
6/29/2015American Creek Resources-Litigation Update
6/29/2015AMERICAN CREEK RESOURCES – LITIGATION UPDATE
4/23/2015-Litigation Update
4/23/2015American Creek Resources-Litigation Update
4/16/2015AMERICAN CREEK RESOURCES CLOSES FIRST TRANCHE OF FINANCING
4/3/2015AMERICAN CREEK RESOURCES – LITIGATION UPDATE
4/3/2015-Litigation Update
4/3/2015American Creek Resources-Litigation Update
3/24/2015AMERICAN CREEK RESOURCES ANNOUNCES $480,000 FINANCING
3/10/2015AMERICAN CREEK RESOURCES – TEUTON RESOURCES - TREATY CREEK L...
3/10/2015American Creek Resources-Teuton Resources-Treaty Creek Litig...
3/9/2015AMERICAN CREEK RESOURCES ACQUIRES GOLD HILL AND D1-MCBRIDE P...
2/2/2015American Creek Litigation Update-Teuton Resources Corp. Deni...
1/26/2015American Creek Commences Judgement Enforcement Against Teuto...
1/26/2015American Creek Commences Judgement Enforcement Against Teuto...
1/12/2015AMERICAN CREEK PROVIDES UPDATE ON TEUTON RESOURCES CORP. – T...
1/9/2015American Creek Provides Update on Teuton Resources Corp.-Tre...
12/24/2014American Creek Provides Further Update-Treaty Creek-Teuton R...
12/22/2014American Creek Provides Treaty Creek - Teuton Resources Corp...
12/2/2014American Creek Resources Closes $466,600 Financing
11/27/2014American Creek Resources Receives Favorable Judgement Regard...
10/17/2014AMERICAN CREEK RESOURCES ANNOUNCES $600,000 FINANCING
10/8/2014American Creek Resources Provides Corporate Update
5/9/2014American Creek Resources Obtains Title to Treaty Creek Prope...
4/15/2014IIROC Trading Resumption - AMK
4/15/2014American Creek Resources Prevails Over Teuton Resources in T...
4/15/2014IIROC Trading Halt - AMK
4/23/2013(Treaty Creek)Reports That the Trial With Teuton Resources Corp. Over the ...
10/15/2012TO BEGIN NEGOTIATING ACCESS RIGHTS
9/20/2012Lawrence Roulston highlights American Creek in Golden Triang...
4/28/2012MAKES SETTLEMENT OFFER TO TEUTON RESOURCES CORP.
3/21/2012CLOSES OVER-SUBSCRIBED PRIVATE PLACEMENT OFFERING
2/1/2012PROVIDES LITIGATION UPDATE
1/24/2012reports on Annual General Meeting of Shareholders
7/15/2011Continues to Increase its Market Exposure
5/4/2011stock breaks 52 week high
4/13/2011Corporate Update
3/31/2011Vantagewire issues Bottom Line Report on American Creek
3/29/2011CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT OFFERING RAISING $56...
3/1/2011ANNOUNCES $400,000 PRIVATE PLACEMENT OFFERING
3/1/2011CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT OFFERING RAISING $86...
2/24/2011ANNOUNCES APPOINTMENT OF NEW DIRECTOR
4/7/2010B.C's Golden Triangle Update
3/2/2010Let's meet next week
1/14/2010Analyst James West Reports on American Creek
10/4/2007Has the Tide turned?
9/28/2007featured on Business Television September 29th and September...
8/29/2007Presentation on the Treaty Creek property and the Electrum p...
7/31/2007Commences Treaty Creek Exploration Program
5/3/2007 Kamloops Area projects
4/11/2007SIGNS EARN-IN AGREEMENT WITH TEUTON RESOURCES
3/27/2007Latest News Release from American Creek Resources Ltd.
3/14/2007Latest news release from American Creek Resources Ltd
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