The Court of Appeal confirmed that American Creek completed its earn-in and holds a 51% controlling interest in the Treaty Creek property. American C
The Court of Appeal confirmed that American Creek completed its earn-in and holds a 51% controlling interest in the Treaty Creek property.
American Creek Resources Ltd. (TSX-V: AMK) is pleased to announce that the British Columbia Court of Appeal released its decision from the March 9–11 hearing on the litigation with Teuton Resources Corp. (“Teuton”) over the Treaty Creek property. Teuton had appealed the British Columbia Supreme Court’s (“BCSC”) finding that American Creek had earned a 51% interest and the Court’s order that Teuton pay American Creek “special costs”.
The Court of Appeal, in a unanimous 3-0 decision, dismissed Teuton’s appeal in its entirety and upheld the April 14, 2014 decision of the BCSC. The Court of Appeal confirmed that American Creek completed its earn-in and holds a 51% controlling interest in the Treaty Creek property.
The Court of Appeal also upheld the prior ruling by the BCSC regarding special costs. The Court of Appeal acknowledged the BCSC’s finding that “certain online postings and Mr. Cremonese’s false testimony on discovery were reprehensible conduct…deserving an award of special costs” and concluded that “The judge correctly found reprehensible conduct related to the proceedings in ordering special costs.” Accordingly, American Creek will take the legal steps necessary to collect the outstanding costs owed to it by Teuton.
Allan Burton, president of American Creek, stated: “We are thrilled with the Appeal Court’s strong and decisive decision confirming that American Creek holds a 51% controlling interest in Treaty Creek. This litigation is now behind us, and with that, a great opportunity lies ahead of us. The Treaty Creek property is next to some of the richest and largest gold/copper deposits in the world. We are looking forward to seeing this property realize its full potential.”
The Treaty Creek property is adjacent to Seabridge Gold’s KSM property and in the same region as Pretivm Resources’ Brucejack property located in the Stewart camp in northwest British Columbia.
In addition to moving the Treaty Creek project forward, American Creek will now vigorously prosecute the economic interference / conspiracy / defamation law suit against Teuton, Mr. Cremonese (Teuton’s president) and others. Mr. Burton stated: “Bringing the Alberta law suit against Teuton and Mr. Cremonese to a conclusion will be the final step in this process. We are confident that the outcome in the Alberta law suit will be equally as favourable.”
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.
For further information please contact Darren Blaney at: Phone: (403) 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at 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.
