News Feed Item

American Creek Resources Prevails Over Teuton Resources in Treaty Creek Trial

CARDSTON, ALBERTA -- (Marketwired) -- 04/15/14 -- American Creek Resources Ltd. (TSX VENTURE:AMK) ("American Creek" or "the Corporation") is pleased to announce that judgment has been 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.

The Corporation is very pleased with the Court's finding that American Creek has met its obligations under the option agreement with Teuton and that it has earned its 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 has ordered Teuton to transfer legal title of all of the mineral claims comprising the Treaty Creek property to American Creek. American Creek will then hold Teuton's undivided 49 percent interest in those mineral claims in trust pursuant to the parties' original agreement.

Legal action was commenced in 2010. The trial of this matter was heard in Vancouver, British Columbia and was concluded on October 3, 2013. The Court's reasons for judgment are available on the Court's website:


This is a very significant victory for American Creek.

Teuton has reported its intention to appeal the Court's decision. In light of Teuton's conduct and that of its president, Dino Cremonese, this comes as no surprise. If Teuton does, in fact, appeal, American Creek intends to respond vigorously. American Creek 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.

American Creek conducted mineral exploration on the Treaty Creek property in 2007-2009. Highlights include the discovery of the Copper Belle zone and the subsequent drilling of Copper Belle hole CB-14 which ran 241 meters of 0.80 g/t gold and ended in mineralization (see American Creek news release dated January 12, 2010) as well as extension drilling on the GR2 zone leading to the discovery of a new VMS system containing several high grade intersections of gold, silver and base metals (see American Creek news release dated November 30, 2009).

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 referred to above.

Allan Burton, President & CEO of American Creek, stated the following: "This judgment is the very positive culmination of a lengthy and costly process. We would like to take this opportunity to thank our outstanding legal team for their efforts and our shareholders for their continued support. We're looking forward to finally advancing our flagship property, Treaty Creek, towards its full potential."

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 Blaney
Chief Operating Officer
403 752-4040
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...