February 24, 2012
Raymond, Alberta…American Creek Resources Ltd. (the “Corporation”) is disappointed to report that the Corporation was notified last night by Teuton Resource Corp’s (TSXV: TUO) counsel that Teuton has cancelled and will not be participating in the Discoveries scheduled for Tuesday and Wednesday of next week. Dino Cremonese of Teuton was to be discovered by American Creek.
The discoveries that Teuton has backed out of were scheduled and previously announced on February 1, 2012. American Creek recently notified Teuton that it intended to proceed with a summary trial application in order to expedite the resolution of the dispute. Last night Teuton’s counsel notified American Creek that they had just been advised that Teuton would be seeking new counsel and that as a result Mr. Cremonese would not be appearing at discoveries next week.
Teuton’s failure to honor its contractual obligations continues to impede the exploration progress of the Treaty Creek project and to further damage American Creek and all of its shareholders. The Corporation will aggressively pursue all legal remedies to compel Teuton to honor its contractual obligations and transfer the title to the Treaty Creek property to American Creek. The Corporation has sued Teuton not only for title but for specific damages, general damages and punitive damages as well.
American Creek Resources Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver deposits within the Province of British Columbia, Canada.
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