Amanta Resources Ltd.

Amanta Resources Ltd.

February 28, 2005 16:21 ET

Amanta Resources Ltd. Closes $2.8 Million Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AMANTA RESOURCES LTD.

TSX VENTURE SYMBOL: AMH

FEBRUARY 28, 2005 - 16:21 ET

Amanta Resources Ltd. Closes $2.8 Million Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 28, 2005) - Amanta
Resources Ltd. (TSX VENTURE:AMH)

THIS NEWS RELEASE IS NOT TO BE DISSEMINATED IN THE UNITED STATES.

Amanta Resources Ltd. is pleased to announce it has completed the sale
of 9,333,498 units at a price of $0.30 per unit for gross proceeds of
$2,800,049. Jennings Capital Inc. acted as agent in connection with the
offering. Each unit consists of one common share and one half of a share
purchase warrant. Each whole warrant may be exercised by the holder to
acquire an additional common share at a price of $0.45 per share until
February 28, 2007.

As compensation for its services as agent, Jennings Capital Inc. and its
participating sub-agents received an aggregate commission of $224,004.
In addition Jennings Capital Inc. received 746,679 share purchase
warrants, with each warrant being exercisable until February 28, 2007 to
acquire one additional common share at an exercise price of $0.30 per
share. The shares and warrants are subject to hold periods under
Canadian securities laws and the policies of the TSX Venture Exchange,
and may not be traded in Canada until June 29, 2005 except as permitted
under such laws and policies.

The proceeds of this offering will be used to fund acquisition and
exploration costs of Amanta's Langu gold project and Doi Ngom
multi-metal mineral project, and for general corporate purposes.

ON BEHALF OF THE BOARD OF

AMANTA RESOURCES LTD.

Gerald D. Wright, President

These securities have not been registered under the United States
Securities Act of 1933, as amended (the "Securities Act"), and may not
be offered or sold in the United States unless registered under the
Securities Act or unless an exemption from registration is available.

The information provided in this news release may contain forward
looking statements within the meaning of the Safe Harbor provisions of
the US Private Securities Litigation Reform Act of 1995. These
statements are based on Amanta Resources Ltd.'s current expectations and
beliefs and are subject to a number of risks and uncertainties that can
cause actual results to differ materially from those described in
forward looking statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Amanta Resources Ltd.
    Patrick Cauley
    (604) 730-9505
    (604) 738-4080 (FAX)
    info@amantaresources.com
    www.amantaresources.com/
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this News Release.