Cardston, Alberta--(Newsfile Corp. - February 7, 2020) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") today announced that the purchase option previously granted to Tudor Gold Corp. ("Tudor") and expiring on April 15, 2019 in which Tudor had the option to purchase the Corporation's 40% interest in the Electrum Project Joint Venture has been terminated.
Tudor paid the Corporation a non-refundable payment of $50,000 upon entering the original agreement. Tudor had until April 15, 2019 in order to exercise the purchase option by paying the Corporation $2,650,000 in cash. Tudor did not provide payment by the deadline which resulted in the option agreement expiring.
About American Creek
American Creek holds a strong portfolio of gold and silver properties in British Columbia.
Three of those properties are located in the prolific "Golden Triangle"; the Treaty Creek and Electrum joint venture projects with Tudor (Walter Storm) as well as the 100% owned past producing Dunwell Mine.
The Corporation also holds the Gold Hill, Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King properties located in other prospective areas of the province.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52249