Amseco Exploration Ltd.

Amseco Exploration Ltd.

March 11, 2010 15:18 ET

Acquisition of Two Gold Exploration Properties in the Urban-Barry Mining Camp, Quebec

MONTREAL, QUEBEC--(Marketwire - March 11, 2010) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is happy to announce the signature of an acquisition agreement for a 100% interest in two claim blocks that make up the Urban-Oasis property located in the Carpiquet township of Quebec which is some 100 km east of Lebel-sur-Quévillon in the Abitibi region. Amseco is acquiring the properties from Jean (40%) and Gérard Robert (20%), Les Explorations Carat Inc. (20%) and Diane Audet (20%) all from the Val d'Or, QC, area. The property consists of eleven (11) map designated mining claims («CDC») and 5 staked claims for a total area of 696 hectares.

The claims include drill hole NO-86-3 completed in 1986 by Ressources Onyx Inc. which intersected 1.2 meter at 13.1 g/t Au. Onyx also completed some stripping followed by channel sampling which revealed 4.88 meters grading 21.9 g/t Au.

The claims are located in the Urban-Barry mining camp that hosts Métanor's (TSX-V-«MTO») «Barry» open pit gold mine as well as Beaufield Explorations' («BFD» TSX-V) Lac Rouleau gold showing, Eagle Hill's Windfall showing (TSX-V : « EAG ») and the Murgor zone. In addition there are a number of other surface gold showings as well as a number of diamond drill holes intersections which revealed the presence of gold including the Lac Kent and Macho river discoveries.

To complete the acquisition Amseco must pay in cash to the vendors $6,000 and also issue three hundred thousand (300,000) treasury shares that will become free trading 4 month and 1 day following the regulatory approvals.

A 1.5% NSR is payable on all production from the property. One half of one percent (0.50%) of the NSR can be bought back by Amseco for a payment of $200,000.

The Urban-Barry project, which includes the Amseco controlled claims or over which it holds an option to purchase, now covers seven hundred and twenty two (722) claims in the Urban-Barry mining camp. This represents an area of more than thirteen thousand one hundred and sixty four (13,164) hectares, or 131.64 square kilometers. The project is one of the company's three main gold projects that also include the Malartic and Timmins properties. Amseco strongly believes that the Urban Barry region will greatly benefit from a unified exploration approach and it forecasts that the expansion of the exploration effort will deliver positive results.

We seek safe harbour

Neither 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.

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