American Creek Resources Receives Signing Fee Payment from Cunningham Mining

Rhea-AI Summary

American Creek Resources (TSXV: AMK) (OTCQB: ACKRF) has received a $300,000 cash signing fee payment from Cunningham Mining (CML) as part of their definitive arrangement agreement dated September 5, 2024. The companies are preparing documentation for American Creek's upcoming annual general and special meeting, where shareholders will vote on the statutory plan of arrangement with CML.

CEO Darren Blaney stated that the transaction is progressing timely. He also clarified that Eric Sprott's previous voting agreement with the company expired on July 31, 2024, meaning Sprott was not legally obligated to support the proposed arrangement. However, American Creek is pleased to have Sprott's full support and endorsement for this transaction.

Positive

• Received $300,000 cash signing fee payment from Cunningham Mining
• Eric Sprott's full support and endorsement of the transaction

Negative

• None.

Cardston, Alberta--(Newsfile Corp. - October 2, 2024) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) (the "Company" or "American Creek") announces that it has received the $300,000 cash signing fee payment from Cunningham Mining Ltd. ("CML"), as required by the definitive arrangement agreement dated September 5, 2024 between the Company and CML, the details of which are set out in the Company's news release of September 6, 2024.

The parties are currently working on documentation for the Company's upcoming annual general and special meeting at which, amongst other things, shareholders will be asked to approve the statutory plan of arrangement with CML. The Company will provide further details regarding the meeting once they are finalized.

Darren Blaney, CEO of American Creek, stated: "We are pleased that this transaction is moving along in a timely manner. After fielding some questions on the matter, we also want to take this opportunity to clarify that the previous voting agreement Mr. Sprott had with the Company expired July 31, 2024, therefore, he was under no legal obligation to support this proposed arrangement with Cunningham. As previously stated, we are pleased to have Eric Sprott's full support and endorsement of this transaction."

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/225345

FAQ

What is the amount of the signing fee payment American Creek Resources (ACKRF) received from Cunningham Mining?

American Creek Resources (ACKRF) received a $300,000 cash signing fee payment from Cunningham Mining

When was the definitive arrangement agreement between American Creek Resources (ACKRF) and Cunningham Mining signed?

The definitive arrangement agreement between American Creek Resources (ACKRF) and Cunningham Mining was signed on September 5, 2024.

When did Eric Sprott's voting agreement with American Creek Resources (ACKRF) expire?

Eric Sprott's voting agreement with American Creek Resources (ACKRF) expired on July 31, 2024.

What will shareholders vote on at American Creek Resources' (ACKRF) upcoming annual general and special meeting?

Shareholders will vote on the statutory plan of arrangement with Cunningham Mining , among other matters, at American Creek Resources' (ACKRF) upcoming annual general and special meeting.