American Creek Resources Obtains Title to Treaty Creek Property-Teuton Appeals Court's Decision
May 09 2014 - 9:00AM
Marketwired
American Creek Resources Obtains Title to Treaty Creek
Property-Teuton Appeals Court's Decision
CARDSTON, ALBERTA--(Marketwired - May 9, 2014) - American Creek
Resources Ltd. (TSX-VENTURE:AMK) ("American Creek" or "the
Corporation") is pleased to announce that on May 8, 2014, 100% of
the legal title to all of the mineral claims comprising the Treaty
Creek property was transferred to American Creek. This was pursuant
to the judgment handed down by the British Columbia Supreme Court
on April 14, 2014 in the litigation against Teuton Resources Corp.
("Teuton") over the Treaty Creek property (see American Creek news
release dated April 15, 2014). American Creek now holds a 49%
interest in the mineral claims in trust for Teuton pursuant to the
parties' original agreement and the Court's judgment.
The Court found that American Creek has met its obligations
under the option agreement with Teuton and that it has earned a 51%
interest in the Treaty Creek property. The Court found that Teuton
breached the agreement in refusing to transfer title to the Treaty
Creek mineral claims to American Creek. The Court's reasons for
judgment are available on the Court's website:
(http://www.courts.gov.bc.ca/jdb-txt/SC/14/06/2014BCSC0636.htm).
Teuton filed a Notice of Appeal on May 8, 2014. American Creek
intends to respond vigorously and expects that it will prevail.
American Creek is also proceeding with its claim that Teuton pay
American Creek special costs which may include recovery of the
significant legal fees related to this action.
American Creek will continue to prosecute the separate $150
million conspiracy and defamation law suit filed in Alberta against
Teuton, Teuton's Chief Executive Officer & President, Dino
Cremonese, Teuton's Director Amanda Mullin, Teuton's Investor
Relations contact Gary Assaly and others.
The Treaty Creek property is situated in northwest British
Columbia, Canada, and is contiguous with Seabridge Gold Inc.'s
("Seabridge") KSM project and near Pretium Resources Inc.'s
("Pretium") Snowfield / Brucejack (Valley of the Kings) projects.
Mineralization in the Treaty Creek property lies within the same
broad hydrothermal system that generated the several deposits on
the Seabridge and Pretium properties that lie south of the Treaty
Creek claims. The KSM project, owned by Seabridge, is now one of
the largest undeveloped gold and copper deposits in the world.
Seabridge has applied for a permit to construct twin tunnels
through approximately 14 km of the Treaty Creek claims, connecting
the KSM deposit with tailings facilities that are proposed north of
the Treaty Creek property. The proposed tunnel route passes
directly through a highly prospective area of the Treaty Creek
property hosting several different mineralized zones including the
Copper Belle and GR2 zones.
The Corporation has not independently verified the geological
information previously reported by Seabridge or Pretium but
believes it to be accurate and in conformance with industry
standards.
American Creek Resources Ltd. is a Canadian junior mineral
exploration company focused on the acquisition, exploration and
development of mineral deposits within the Province of British
Columbia, Canada.
Information relating to the Corporation is available on its
website at www.americancreek.com.
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ
materially from those contained in the statements. No assurance can
be given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Corporation will obtain from them.
American Creek Resources Ltd.Darren BlaneyChief Operating
Officer403 752-4040info@americancreek.comwww.americancreek.com
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