March 23, 2007
Raymond, Alberta. American Creek Resources Ltd. (the “Corporation”) (TSX Venture: AMK) is pleased to announce that an intensive exploration program has commenced on the Corporation’s 100% owned Empire Project located near Kamloops, British Columbia, Canada. The program will consist of grid work, line cutting, soil and rock geochemical sampling, ground geophysics including VLF and magnetometer surveys, and diamond drilling. Areas of interest identified from the previously flown airborne geophysical survey will be targeted first with drilling to begin on March 24. The budget for this first phase of exploration is $800,000 and includes up to 5000 metres of BTW core diamond drilling.
In light of the current market conditions within the exploration sector in which equipment and experienced personnel are in extremely short supply, American Creek management decided that in addition to contracting field services, it was in the best interest of the Corporation to also secure its own in-house essential equipment and complimenting personnel. The Corporation has been able to secure and purchase its own diamond drill and related equipment. An experienced drill crew has been hired and is presently on site at the Empire Project. The Corporation has also ordered two additional diamond drills with delivery expected within approximately 8 weeks. In addition to the diamond drills and related equipment, American Creek has also purchased an Overhauser walking magnetometer with VLF capabilities. Field crews are on the Empire using the equipment now. An additional Overhauser unit as well as a VIP-5000 induced polarization transmitter with an ELREC PRO induced polarization receiver have also been purchased with delivery expected in approximately 4 weeks.
In addition to the field geologists the Corporation currently retains, American Creek has also contracted a senior geologist with considerable expertise in the fields of geographical information systems, global positioning systems, mapping, and geological structure to provide exploration data management services for the upcoming 2007 programs.
The Corporation is eagerly anticipating the results of the Geoscience BC geophysical airborne survey due to be made public in 1 week. American Creek has significant mineral claim holdings within the area flown with 7 projects (Empire, Austruck-Bonanza, Bullion, Goldmist, Vault, Lucky Dog, and the Fortuosity) having a combined area exceeding 500 square kilometers being covered by the survey. This government-funded program represents significant cost savings to the Corporation and will directly contribute to the success of the upcoming exploration programs.
Another interesting development affecting the Kamloops area projects is the widespread pine beetle infestation that has occurred over the last few years. Plans are underway for major salvage logging operations in the area which will greatly benefit American Creek as new areas become more accessible with new haul roads and skid trails being excavated. With each new access road comes the potential for exposing and discovering new mineralized zones. Also, new beetle related tax incentives just introduced by the BC government will aid in attracting exploration capital to projects within those areas affected.
Perry Grunenberg, P. Geo. is the Empire Project manager and “Qualified Person” for the purposes of National Instrument 43-101.
An exploration program is also being conducted on the Corporation’s Austruck-Bonanza Project. Further drill results are expected to be released within approximately 2 weeks.
American Creek Resources Ltd. is a well funded Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver deposits.
American Creek’s common shares trade on the TSX Venture Exchange under the symbol “AMK”.
Certain information contained in this news release constitutes forward-looking statements regarding the Corporation’s mineral properties. Forward looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the reasonable opinions and estimates of management of American Creek and are subject to a variety of risks, uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include: the inherent risks involved in the exploration and development of mineral properties, uncertainties involved in the interpretation of drill results and other geological data, fluctuating commodity prices, unforeseen permitting requirements, changes in environmental laws or regulations, the possibility of project cost overruns or unanticipated costs and expenses, weather conditions, the availability of contractors for equipment and services, the availability of future financing and general business and economic conditions. Such statements are also based on a number of assumptions which may prove to be incorrect, including assumptions about general business and economic conditions being accurate, the timing and receipt of regulatory approvals for projects and operations, the availability of financing, the ability to secure equipment and labour, and American Creek’s ongoing relationship with third parties. The foregoing factors, risks and assumptions are not exhaustive. Events or circumstances could cause actual events or results to differ materially from those estimated or projected and expressed in, or implied by, these forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. These forward-looking statements are as of the date they are made and American Creek disclaims any obligation to update any forward-looking statements, except as required by law.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.