Amanta Resources Ltd.

Amanta Resources Ltd.

April 15, 2009 11:52 ET

Amanta and JOGMEC Sign Joint Development Agreement for the Luang Namtha Copper Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2009) - Amanta Resources Limited (TSX VENTURE:AMH) (Amanta) is pleased to announce that it has entered into a Joint Development Agreement (JEA) with Japan Oil, Gas and Metals National Corporation (JOGMEC), for the development of the Luang Namtha copper project, in northern Laos.

Under the terms of the JEA, JOGMEC has been granted an Option to acquire a 51% joint venture interest in the Luang Namtha project, by investing a total of USD$ 3 million (approx. CAD$ 3.7 million), prior to March 31, 2012. Amanta will act as the Project Operator and will earn a fee of up to 10% on project expenditures.

JOGMEC may terminate its interest at any time after it spends a minimum of USD$ 800,000 and will not earn any interest unless it completes the USD$ 3 million investment and exercises its Option, following which the parties will contribute pro-rata to ongoing project development costs.

Should JOGMEC exercise its Option to acquire the joint venture interest, it will have the right to transfer this interest to a qualified nominee, a Japanese company. With the exception of a transfer to such nominee, each party shall have a first right of refusal if either party wishes to sell any part of its interest in the joint venture.

The parties have informed the Government of the Lao PDR of their agreement and have sought its approval for the JEA, this being a Condition Precedent of the JEA.

JOGMEC was established in February, 2004, following the integration of the former Japan National Oil Corporation (JNOC) and Metal Mining Agency of Japan (MMAJ). It is a corporation under the Japanese Ministry of Economics, Trade and Industry (METI), with a mandate of investing in developing minerals projects worldwide to help secure a stable supply of natural resources for Japanese industry.

Amanta Resources Ltd. is a junior minerals exploration company focussed on projects in Southeast Asia. It is presently developing projects in the Lao PDR (Luang Namtha copper project) and Thailand (tungsten and gold projects).

The Luang Namtha project, which covers an area of 200 km2, is located in the Province of Luang Namtha, northern Laos, some 600 kms from the capital city, Vientiane. Geologically the area forms part of the Luang Namtha-Yulong porphyry and polymetallic belt, a continental collision zone in which a large number of economic mineral deposits are known, the largest amongst these being the Yulong porphyry deposit, in eastern Tibet, China, which hosts some 600 million tons at approximately 1% copper.

Amanta signed an Exploration and Development Agreement with the Lao PDR government in June 2008, becoming the first Canadian company to acquire such a concession, and has been active on the project since July, 2008. To date, Amanta has completed wide-ranging surface (rock chip) and stream sediment sampling programmes and identified a number of strong targets for detailed exploration programmes.

Large extents of the area are underlain by Paleozoic volcanic rocks in which high grade copper-silver mineralization occurs. In one such area, the Pakieng area, outcropping mineralized rocks can presently be seen to encompass some 6 km2. From this area rock chip samples have yielded assay values of up to 6% Cu and 13 oz/t Ag, as well as molybdenum values of up to 0.8%, with minor associated gold. Reconnaissance work has uncovered several other similarly mineralized locations over which detailed mapping and sampling has yet to be completed.

The exploration area also yields porphyritic intrusive occurrences of which some have been observed to be mineralized with chalcopyrite. Further detailed work over these targets has been planned for the next exploration phase.

Dr. Gerald Wright, President and CEO of Amanta, commented, "We are pleased to have JOGMEC join Amanta as a co-investor in the Lao PDR, a country with outstanding mineral potential. We believe that JOGMEC is an ideal partner for Amanta and look forward to working with them on this exciting exploration project."

Geological Information contained within this report has been verified by Pieter Bakker (Director, Executive VP - Amanta Resources Ltd.). Mr. Bakker satisfies the requirements of a Qualified Person as defined in the National Instrument 43-101 (Standards of Disclosure for Mineral Projects).


Gerald D. Wright, President

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