American Creek Resources Announces Termination of Arrangement Agreement

Rhea-AI Summary

American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has announced the termination of its Arrangement Agreement with Cunningham Mining (CML), which was originally dated September 5, 2024, and subsequently amended on December 30, 2024, and January 31, 2025.

As part of the termination agreement, both parties have provided mutual releases. CML has agreed to compensate American Creek with CAD$150,000 worth of NGTG$$ tokens, which will be transferred to American Creek's wallet and released after a 9-month period.

The companies have agreed to explore an alternative agreement that could potentially combine the gold RWA token sector with the gold exploration sector, aiming to add significant value for shareholders. American Creek will provide updates when material information becomes available.

Positive

• Received compensation of CAD$150,000 in NGTG$$ tokens from CML
• Potential new agreement being explored to combine gold RWA token and exploration sectors

Negative

• Termination of previously announced Arrangement Agreement

Cardston, Alberta--(Newsfile Corp. - February 21, 2025) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) (the "Company" or "American Creek") announces that it has agreed with Cunningham Mining Ltd. ("CML") to terminate the Arrangement Agreement between the parties dated September 5, 2024, as amended December 30, 2024 and January 31, 2025. In a termination agreement signed by the parties last night, the parties provided mutual releases to each other in relation to the Arrangement Agreement. In addition, CML agreed to pay the Company CAD$150,000 worth of NGTG$$ tokens, which tokens will be transferred to a wallet allocated to American Creek and released in 9 months.

The Company also announces that American Creek and CML/NGTG$$ have agreed to explore an alternate agreement/transaction between the parties that could have the potential to add significant value to shareholders through the alignment of the gold RWA token sector and the gold exploration sector. The Company will provide additional updates if and when material information becomes available.

About American Creek and the Treaty Creek Project

American Creek is a proud partner in the Treaty Creek Project, a joint venture with Tudor Gold Corp. located in BC's prolific "Golden Triangle".

American Creek holds a fully carried 20% interest in the Treaty Creek Project until a production notice is given, meaning that no exploration or development costs are incurred by American Creek until such time as a production notice has been issued. American Creek shareholders have a unique opportunity to avoid the dilutive effects of exploration while maintaining their full 20% exposure to one of the world's most exciting mega deposits.

The Company also holds the Austruck-Bonanza gold property located near Kamloops, BC.

ON BEHALF OF AMERICAN CREEK RESOURCES LTD.

"Darren Blaney"
Darren Blaney, President & CEO

For further information please contact Kelvin Burton at:

Phone: (403)752-4040 or Email: info@americancreek.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect American Creek's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this news release are based on a number of key expectations and assumptions made by American Creek as of the date hereof. Although the forward-looking statements contained in this news release are based on what American Creek's management believes to be reasonable assumptions, American Creek cannot assure investors that actual results will be consistent with such statements.

The forward-looking statements in this news release are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including those identified in American Creek's most recent Management's Discussion and Analysis, which is available on SEDAR+ at www.sedarplus.ca. Readers, therefore, should not place undue reliance on any such forward-looking statements. These forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, American Creek assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241752

FAQ

What compensation did American Creek (ACKRF) receive for terminating the Arrangement Agreement?

American Creek received CAD$150,000 worth of NGTG$$ tokens from Cunningham Mining , which will be released after a 9-month holding period.

When was the original Arrangement Agreement between American Creek (ACKRF) and Cunningham Mining signed?

The original Arrangement Agreement was signed on September 5, 2024, with subsequent amendments on December 30, 2024, and January 31, 2025.

What are American Creek's (ACKRF) plans following the termination of the Arrangement Agreement?

American Creek and CML/NGTG$$ plan to explore an alternative agreement that could combine the gold RWA token sector with the gold exploration sector.

When will the NGTG$$ tokens be released to American Creek (ACKRF)?

The NGTG$$ tokens will be released to American Creek's wallet after a 9-month holding period.