Amseco Exploration Ltd.

Amseco Exploration Ltd.

February 17, 2010 13:04 ET

Amseco Exploration Ltd.: Gold Property Acquisition in the Urban-Barry Gold Mining Camp, Quebec

MONTREAL, QUEBEC--(Marketwire - Feb. 17, 2010) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce the signature of an agreement to acquire a one hundred percent (100%) interest in the Urban Moise property located in the Carpiquet townships, 100 km east of Lebel-sur-Quévillon in Abitibi,QC. Amseco is acquiring this property from Moshe Zefrani, Montreal, QC. This property covers twenty-nine (29) map designated mining claims ("CDC") with an area of 1,636 hectares. These claims are located in the renowned Urban-Barry gold mining camp and are close to Métanor's (TSX VENTURE:MTO) «Barry» open pit deposit. The Urban gold camp is well known and hosts, in addition to Métanor's open pit, Beaufield Exploration's (TSX VENTURE:BFD) Lac Rouleau gold occurrence as well as the Nubar/Souart-Macho property.

To complete the acquisition Amseco must pay $3,000 to the seller and also issue one hundred thousand (100,000) treasury shares which are the object of a four month and one day regulatory hold period.

A 1.0% NSR is payable on future production from the property. Three quarter of this royalty (0.75%) can be bought back by Amseco in exchange for a $500,000 payment.

The Urban project encompasses all of the Amseco controlled claims in the region and is one of its top three exploration projects. It is made up of 269 claims covering a land area of 5,476 hectares. Amseco is planning a major exploration campaign on this project.

Amseco will soon broadcast a technical press release outlining the property and area geology.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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