January 16, 2007
Raymond, Alberta… American Creek Resources Ltd. (TSX-V:AMK) is pleased to announce that it has now satisfied the funding condition pursuant to the Tide Property Option Agreement with Rimfire Minerals Corporation (“Rimfire”) for the 2007 exploration program by providing Rimfire with the sum of $512,046.06. Under the terms of the agreement, American Creek has the right to earn a 51% interest in the Tide Project by spending $512,046.06 on exploration by the end of 2007, at which time American Creek will also become the project operator. Rimfire will hold the remaining 49% interest, and Serengeti Resources Inc. will retain a 1% NSR on American Creek’s interest.
The Tide Project is located approximately 36 km. north of Stewart, British Columbia. The property consists of the Tide 1 – 4 Claims (29.6 sq. km.) and borders American Creek’s Electrum Project on four sides. Previous work on the Tide property resulted in the discovery of several high-grade gold and silver showings including the 52 Zone, which produced local bonanza-grade vein samples grading up to 593 g/t gold and 14,708 g/t silver. Recent work on the property has focused on a bulk-tonnage gold target at the 36 Zone, where drilling in 2004 and 2005 intersected wide intervals of gold mineralization including 129.4 metres averaging 1.0 g/t gold. The Tide Project is road-accessible via the Granduc haul road and is strategically located approximately 36 km from concentrate-loading port facilities at Stewart. A copy of the recently completed NI 43-101 Summary Report on the Tide Project dated November 15, 2006 has been filed on SEDAR and may be viewed at www.sedar.com.
American Creek Resources Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold and silver deposits, with several projects in the Province of British Columbia, Canada. The Corporation’s 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.
TIDE AND ELECTRUM PROJECTS