Raymond, Alberta… American Creek Resources Ltd. (the “Corporation”) is pleased to report that it has completed all requirements regarding the 51% earn-in under the terms of the option agreement with Teuton Resources Corp. (TUO: TSX-V) (“Teuton”) for the controlling interest in the Treaty Creek Project.
In March, 2007, American Creek Resources entered into an option agreement with Teuton for the controlling interest in the Treaty Creek property. American Creek was granted the right to earn a 51% interest by spending $5 million on exploration over a period of three years. In addition, a further 9% interest (bringing American Creek’s total interest to 60%) may be earned by funding a positive feasibility study. American Creek is the operator of the project.
As previously announced, a drill program oper ated by American Creek is currently underway at Treaty Creek. An aggregate total of approximately 6,000 meters has been drilled thus far with three drills continuing to turn. The Treaty Creek exploration program is expected to continue for approximately two more weeks.
Raul Sanabria, P. Geo., is the Qualified Person for the purposes of National Instrument 43-101 for the Treaty Creek Project and is managing the 2009 exploration program. Mr. Sanabria has verified and approved the contents of this news release.
American Creek Resources Ltd. is a Canadian mineral exploration company focused on the acquisition, exploration and development of mineral deposits within the Province of British Columbia, Canada.
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.
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.