Amazon Mining Holding Plc

Amazon Mining Holding Plc

December 21, 2007 09:36 ET

Amazon to Commence Drilling at Lavras Gold Project

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2007) -

Attention Business/Financial Editors:

Amazon Mining Holding Plc ("Amazon" or the "Company") (TSX VENTURE:AMZ) is pleased to announce that drilling is scheduled to commence mid-January 2008 on the Lavras Gold Project ("Lavras") located in Minas Gerais, Brazil. Once underway, the Company will have two drilling programs in progress, Lavras and Tocantins (see press release dated 12 December 2007).

Boart Longyear Geoserv of Brazil, a subsidiary of Boart Longyear Company (see press release dated 12 December, 2007) ("Boart") will conduct an initial diamond drilling ("DD") program of 1,500m. Results are expected during Q1 2008.

The 900ha Lavras property is located approximately 10km north from Kinross Gold Corporation's large scale Paracatu open pit gold mine ("Paracatu") which presently hosts proven & probable reserves of 15.3Moz.

As at Paracatu, gold was also mined from Lavras during the 18th century from extensive surface workings. The initial drilling program will comprise 9 widely spaced DD holes designed to test continuity of gold mineralization to depth. Amazon's exploration objective is to define a low grade bulk tonnage resource similar to that at Paracatu.

Amazon has granted a total of 1,595,000 stock options exercisable at a price of $1.20 to its Directors, Officers and Employees. The grant is subject to regulatory approval.

Renmark Financial Communications Inc. of Montreal, Canada ("Renmark") has been retained to assist the Company with investor relations and marketing activities.

About Amazon

Amazon is listed on the TSX Venture exchange and is a mineral exploration company engaged in acquiring and developing gold exploration properties in Brazil. Its strategic focus is to acquire projects with demonstrated potential for hosting gold deposits and to define resources through exploration and drilling campaigns.

Qualified Person

The technical and scientific information in this release has been reviewed by Dr. Joco Batista G. Teixeira, Chief Geoscientist of Amazon; a Qualified Person as described in NI 43-101 and a professional geologist with more than 39 years of experience.

On behalf of the Board of Directors of Amazon Mining Holding Plc

Cristiano Veloso, President & Chief Executive Office

This press release contains certain "forward looking statements", which include but is not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding use of proceeds, exploration prospects, identification of mineral reserves, costs of and capital for exploration projects, exploration expenditures, timing of future exploration and permitting, requirements for additional capital, government regulations of mining operations, environmental risks, reclamation expenses, title disputes or claims, and limitations of insurance coverage. Forward looking statements can generally be identified by the use of words such as "plans", "expects", or "does not expect" or "is expected", "anticipates" or "does not anticipate", or "believes", "intends", "forecasts", "budget", "scheduled", "estimates" or variations of such words or phrases or state that certain actions, event, or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved". Forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by said statements. There can be no assurances that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in said statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

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