Cardston, Alberta--(Newsfile Corp. - September 30, 2021) - American Creek Resources Ltd. (TSXV: AMK) ("the Corporation") is pleased to report that Tudor Gold has bought out and fully extinguished an underlying NSR interest on the Treaty Creek JV project located in the heart of the Golden Triangle of northwestern British Columbia.
Darren Blaney, CEO of American Creek commented: "The buyout and termination of this NSR interest by Tudor is another major step toward preparing the Treaty Creek project for a future deal. We are pleased that Tudor, as JV operator, is actively working toward this objective.
"The size of the Goldstorm deposit at Treaty Creek continues to exceed expectations and growth as the drills keeping turning. The potential of a Treaty Creek deal is also growing proportionately."
As part of the NSR buyout and facilitating the transaction, American Creek will receive 100,000 common shares of Tudor Gold.
Treaty Creek JV Partnership
The Treaty Creek Project is a Joint Venture with Tudor Gold owning 3/5th and acting as operator. American Creek and Teuton Resources each have a 1/5th interest in the project creating a 3:1 ownership relationship between Tudor Gold and American Creek. American Creek and Teuton are both fully carried until such time as a Production Notice is issued, at which time they are required to contribute their respective 20% share of development costs. Until such time, Tudor is required to fund all exploration and development costs while both American Creek and Teuton have "free rides".
About American Creek
American Creek is a Canadian junior mineral exploration company with gold and silver properties in British Columbia, Canada.
The Corporation has an interest in the Treaty Creek property, a joint venture project with Tudor Gold/Walter Storm located in BC's prolific "Golden Triangle".
The Corporation also holds the Austruck-Bonanza gold property located near Kamloops.
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/98202