Tudor Gold in LOI to acquire American Creek Resources

Tudor Gold Corp. [TUD-TSXV, TUC-Frankfurt] has signed a binding letter of intent (LOI) to acquire all the issued and outstanding shares of American Creek Resources Ltd. [AMK-TSXV], a company that holds a 20% full carried interest in the Treaty Creek project in the Golden Triangle area of northwestern British Columbia.

It means that American Creek does not need to incur any exploration or development costs until such time as a production notice has been issued.

Upon completion of the transaction, Tudor will hold an 80% interest in the Treaty Creek project, which hosts the Goldstorm deposit, an asset that consists of a large gold-copper porphyry system, as well as several other mineralized zones. The other 20% is held by Teuton Resources Corp. [TUO-TSXV].

American Creek shares rose 4.5% or $0.005 to 11.5 cents. The shares trade in a 52-week range of 35 cents and $0.075. Tudor Gold was unchanged at 55 cents and trades in a 52-week range of $1.16 and 49 cents.

Under the terms of the transaction, American Creek shareholders will receive 0.238 share in the capital of Tudor for each American Creek share. This implies a premium of 40% and 37% offered to American Creek shareholders based on the spot and VWAP (volume-weighted average price) of both companies at the market close on June 6,, 2025. Following completion of the transaction, existing shareholders of American Creek will own approximately 30% of the combined company.

The LOI provides for the parties to enter into a definitive arrangement agreement, setting out the final tems and conditions of the transaction. Upon execution of the arrangement agreement, Tudor and American Creek will issue a subsequent news release containing details of the agreement and any additional terms.

“Our acquisition of American Creek cements our interest in the Treaty Creek project, which hosts one of the largest gold discoveries in Canada, with excellent potential for expansion and additional gold-copper discoveries at a reasonable per ounce of gold equivalent cost,’’ said Tudor Gold President and CEO Joe Ovsenek. “Tudor is better positioned to attract a wider range of potential investors to the developing story of this high-quality gold-copper asset.’’

Tudor has agreed with certain insiders of American Creek to settle up to $1.22 million in severance payments in Tudor shares at a per share price of 53.7 cents per share, the five-day VWAP as of the market close on June 6, 2025.

Treaty Creek is located in the same hydrothermal system as Seabridge Gold Inc.’s [SEA-TSX, SA-NYSE] KSM property and Newmont Corp.’s [NGT-TSX, NEM-NYSE] Brucejack gold mine.

KSM is one of the world’s largest undeveloped gold projects as measured by reserves. It is estimated to contain 38.8 million ounces of gold and 10.2 billion pounds of copper in proven and probable reserves. The past-producing Eskay Creek mine lies 12 kilometres to the west.

It was Tudor Gold President and CEO Ken Konkin who led the discovery of the Brucejack mine, which produced 286,000 ounces of gold in 2023.  It ranks as one of the highest-grade operating gold mines in the world.