American Creek Resources Ltd. (ACKRF)

[douginil]

TUDOR GOLD ANNOUNCES AGREEMENT WITH AMERICAN CREEK TO PURCHASE REMAINING INTEREST IN ELECTRUM CLAIMS

VANCOUVER, BC, May 12, 2020 – Tudor Gold Corp. (TSXV: TUD) (Frankfurt: TUC) (the “Company” or “Tudor Gold“) is pleased to announce that it has entered into a definitive agreement (the “Property Purchase Agreement“) with American Creek Resources Ltd. (“American Creek“) to purchase the remaining 40% legal and beneficial right, title and interest in and to certain properties and mineral rights known as the “Electrum Claims” in the Skeena Mining Division, located in British Columbia (the “Remaining Interest“) for: (i) the issuance of 1,400,000 common shares of the Company (the “Payment Shares”), subject to an 8-month contractual escrow period; and (ii) $250,000 in cash, each issuable or payable at the time of closing (the “Proposed Transaction“).

The Company currently holds a 60% interest in the Electrum Claims and the Company and American Creek are party to a joint venture agreement, dated May 10, 2016, which will be terminated with closing of the Proposed Transaction.

The Proposed Transaction is subject to the approval of the TSX Venture Exchange.

The property comprises 8 claims totaling 650 acres, of which six claims are subject to a 2% net smelter royalty (“NSR”) which can be purchased at any time for $1,000,000.

Read more on Tudor's website at:
https://tudor-gold.com/press-release-may-12-2020/

Read on American Creek's website at:
https://www.americancreek.com/index.php/news/news-2020/462-