American Creek Closes Two JV Transactions With Tudor Gold Corp.

CARDSTON, ALBERTA--(Marketwired - June 14, 2016) - American Creek Resources Ltd. (TSX VENTURE:AMK) ("American Creek") is pleased to announce that it has now completed the sale to Tudor Gold Corp. (TSX VENTURE:TUD) ("Tudor") of certain of its interests in the Electrum property and the Treaty Creek property, both of which are located in the "Golden Triangle" in NW British Columbia (refer to our previous news release dated May 11, 2016).

Pursuant to a joint venture agreement entered into with Tudor, American Creek sold an undivided 60% interest in its Electrum property in consideration for 1,000,000 Tudor shares and the payment of $500,000 cash. Tudor also invested $250,000 into American Creek by way of a private placement under which American Creek issued 3,125,000 shares at a price of $0.08 per share to Tudor. All shares issued under this agreement are subject to both a 4 month statutory/regulatory hold period as well as a voluntary hold period which expires May 10, 2017. A 60/40 joint venture has now been formed and Tudor is the operator of the project.

Pursuant to a separate joint venture agreement entered into with Tudor and Teuton Resources Corp. ("Teuton"), American Creek sold an undivided 31% interest in its Treaty Creek property to Tudor in consideration for 500,000 Tudor shares. A joint venture has now been formed with Tudor holding a 60% interest and each of American Creek and Teuton holding a 20% interest in the joint venture. Both American Creek's and Teuton's 20% interests are fully carried during the exploration period until a production notice is given. Thereafter, each will be responsible for 20% of the costs under and subject to the terms of the joint venture. Tudor is the operator of the project. Under the terms of the agreement, Tudor has agreed to complete a minimum of $1,000,000 in exploration expenditures on the Treaty Creek property during 2016. All shares issued under this agreement are subject to both a 4 month statutory/regulatory hold period as well as a voluntary one year hold period.

Darren Blaney, American Creek's CEO, states: "We are pleased to have closed these two JV transactions with Walter Storm's Tudor Gold Corp. We are very much looking forward to the advancement of both the Treaty Creek and Electrum projects."

The Treaty Creek property is located immediately adjacent to, and on geological trend with Seabridge Gold's KSM project and north of the Pretivm Resources Brucejack project. The Sulphurets Thrust Fault, which has been identified by BC government geologists as being related to all of Seabridge's KSM property gold-copper deposits, continues northeast through the Treaty Creek property.