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Tuesday, 10/31/2023 1:43:01 PM

Tuesday, October 31, 2023 1:43:01 PM

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American Creek's JV Partner Tudor Gold Discovers New Gold System at the Perfectstorm Zone, Treaty Creek Gold-Copper-Silver Project, Golden Triangle British Columbia; Drills 102.15 m of 1.28 g/t AuEq in Drill Hole PS-23-10 Including 42.5 m of 1.87 g/t AuEq

Cardston, Alberta--(Newsfile Corp. - October 31, 2023) - American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) ("the Corporation" or "American Creek") is pleased to announce that project operator and JV partner Tudor Gold ("Tudor") has produced the fourth set of drill results for the 2023 exploration program (the "Program") at the flagship property, Treaty Creek, located in the heart of the Golden Triangle of Northwestern British Columbia.

Tudor has safely and successfully completed the 2023 drilling program with a total of 31,904 meters (m) drilled within areas encompassing the Goldstorm Deposit and the Perfectstorm Zone. The assay results reported in this release are from six drill holes that targeted both the southwestern and the northeastern areas of the Perfectstorm Zone (PSZ) located approximately 1500 m apart.

Ken Konkin, Tudor Gold President and CEO, commented: "Tudor Gold's technical team has done an outstanding job with this year's drill program at Treaty Creek. Not only have we significantly expanded the known boundaries of the Goldstorm Deposit, but we have also successfully confirmed the existence of the Perfectstorm System with holes that are spaced over a distance of 1,500 meters. We believe that we have intersected the upper extremity of yet another porphyry system that lies approximately two kilometres southwest of our Goldstorm Au-Cu-Ag Deposit. Typically, copper mineralization is encountered deeper within the known deposits along the Sulphurets-Treaty Thrust Fault trend. Our intersections reported in this news release occur much higher in elevation than the copper-rich zones encountered at Goldstorm. We have observed gold and silver-dominant mineralization in the uppermost parts of the southwestern holes of the Perfectstorm System with copper mineralization occurring in the deeper parts of the northeastern holes.

"Our current geological interpretation is that the system lies peripheral to the intense magnetic anomaly that has been detected under the Treaty Glacier to the southeast of the drill holes. Previous drilling undertaken between the two areas reported in this news release may have been on the periphery of stronger mineralization, such as that which we discovered in drill hole PS-23-10. Previous holes were oriented to the northwest, whereas those holes drilled this year in the opposite direction have revealed wider and more strongly mineralized intervals, such as 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) over 102.15 meters in PS-23-10. The upper 42.5 meters of this intercept yielded 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu). The Perfectstorm System adds a new dimension to the geological potential of the Treaty Creek Project with the addition of yet another bulk-tonnage Au-Cu-Ag target. Included in the impressive intercepts were some high-grade gold-silver veins that are interpreted as late-stage overprinted mineralization, similar to that observed at the Goldstorm Deposit throughout the 300H and CS-600 domains. Grades as high as 444.0 g/t silver and 24.7 g/t gold were intersected over 1.5 m intervals within holes PS-23-07 and PS-23-10 respectively. We are very excited in our anticipation of yet another potentially massive bulk tonnage Au-Cu-Ag system, with high-grade Au-Ag overprinting, on our exploration horizon."

Darren Blaney, CEO of American Creek, stated: "The Tudor team, led by Ken Konkin, is to be congratulated on executing an extremely successful 2023 Treaty Creek exploration program. Not only is the Goldstorm deposit significantly expanding in size, but the metals grade is also getting better and better. Remarkably, it also now appears that we have the makings of a second world-scale gold-copper-silver deposit on the Treaty Creek property. It's very satisfying and encouraging to see the drilling begin to confirm what the geology and geophysics were indicating at the Perfectstorm. The potential of the Treaty Creek project continues to impress and exceed all prior expectations."

Section A (Northeast PSZ)

PS-23-11: Drilled on section with the original 2020 PSZ drill holes, PS-20-01 and PS-20-02, to explore the down dip projection of the open mineralized trend. A new gold-bearing zone was intersected near surface returning 136.0 m of 0.71 g/t AuEQ (0.69 g/t Au, 1.26 g/t Ag), that included 23.4 m of 1.75 g/t AuEQ (1.74 g/t Au, 0.90 g/t Ag), as well as 20.1 m of 1.34 g/t AuEQ (1.30 g/t Au, 4.21 g/t Ag). Further downhole, porphyry mineralization that had been observed in the 2020 holes was encountered, extending the lower zone 200 m to the northwest with an interval of 138.95 m of 0.52 g/t AuEQ (0.43 g/t Au, 4.99 g/t Ag, 0.04 % Cu).

PS-23-12: Drilled in the opposite direction along the same section line to continue exploring the lower porphyry gold-silver-copper zone. This hole intersected 122.0 m of 0.71 g/t AuEQ (0.61 g/t Au, 2.96 g/t Ag, 0.06 % Cu), including an enriched interval of 10.5 m of 3.07 g/t AuEQ (2.63 g/t Au, 3.68 g/t Ag, 0.34 % Cu). This intercept is located 150 m to the southeast from the 2020 drill holes and expands the lower NE PSZ mineralization to a drilled length of 500 m.

Section B (Southwest PSZ)

PS-23-07: Drilled as a 400 m step-out from 2021 PSZ drill hole PS-21-06, to continue exploring and expanding the system to the southwest. This drill hole intersected intermittent mineralized quartz-carbonate veins in the upper part, followed by a 27.0 m wide mineralized shear zone, from 541.0 to 568.0 m down hole, which assayed 1.34 g/t AuEQ (1.02 g/t Au, 30.13 g/t Ag, 0.02 % Cu). One 1.5 m sample returned 444.0 g/t Ag with native silver observed in the drill core.

PS-23-08: Drilled on the same section to explore to the northwest and to define the stratigraphy and structures of the area. This drill hole intersected multiple mineralized vein zones, two of which returned 15.0 m of 1.19 g/t AuEQ (1.15 g/t Au, 2.83 g/t Au, 0.02 % Cu), and 9.0 m of 0.93 g/t AuEQ (0.90 g/t Au, 1.66 g/t Ag, 0.01 % Cu) at a shallow depth of 154.5 m down hole.

PS-23-09: Drilled to further define the vein zones and structures observed in hole PS-23-08. Multiple mineralized zones were intersected, including 18.0 m of 0.98 g/t AuEQ (0.96 g/t Au, 1.84 g/t Ag, 0.01 % Cu), and 33.0 m of 0.77 g/t AuEQ (0.74 g/t Au, 1.63 g/t Ag, 0.01 % Cu).

PS-23-10: Drilled at a relatively shallow dip to the south to explore for extension of the mineralized zone encountered in drill hole PS-23-07. This hole intersected 102.15 m of 1.28 g/t AuEQ (1.23 g/t Au, 3.43 g/t Ag, 0.01 % Cu) including two enriched zones comprising 42.5 m of 1.87 g/t AuEQ (1.80 g/t Au, 5.76 g/t Ag, 0.02 % Cu), and 25.5 m of 1.60 g/t AuEQ (1.58 g/t Au, 1.81 g/t Ag, 0.01 % Cu). Further downhole a high-grade vein zone was intersected and returned 1.5 m of 24.70 g/t gold. These results are the highest gold grades seen at PSZ to date and they are located between the Goldstorm Deposit, 3 km to the northeast, and Seabridge Gold's Iron-Cap Deposit, 2.5 km to the southwest.