Amera Resources Corporation
TSX VENTURE : AMS
FRANKFURT : OAY
OTC Bulletin Board : AJRSF

Amera Resources Corporation

March 03, 2008 03:01 ET

Amera Resources Corporation: Additional High-Grade Copper Results on Mitu Project; Geophysics Program Begins to Refine Drill Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2008) - Amera Resources Corporation (TSX VENTURE:AMS)(OTCBB:AJRSF)(FRANKFURT:OAY)(WKNA0B54E) is pleased to report results from 15 new rock chip samples collected on its 100%-owned, 5,800 hectare Mitu Copper-Silver Project in Junin Department, Peru. Highlights include chip samples assaying 6.33% copper and 336 grams per tonne silver over 0.75m and 7.16% copper and 534 grams per tonne silver over 0.20m.

Additionally, the Company is pleased to announce that an Induced Polarization (IP) and ground magnetic survey, conducted by VDG del Peru SAC (formerly, Val D'Or Geofisica), is currently underway on Mitu to refine drill targets. The geophysical survey program is expected to be completed within the next few weeks. A Phase I diamond drill program at the Mitu Copper-Silver Project will commence once the ongoing drill program is completed on the Company's Laguna Gold Project.

"To date, surface sampling from our Mitu Project has yielded some very high copper assay results," stated Mr. Nikolaos Cacos, President and C.E.O. "With copper prices exceeding $3.80 per pound, Amera's Mitu project is an excellent opportunity for our shareholders to increase their exposure to the very strong bull market in copper."

The Mitu property occurs in a similar geological setting as Amera's Cocha Copper-Silver Project where recent drilling returned assays including 37.9m averaging 3.61% copper and 38.2 g/t silver (see January 11, 2008 News Release). Examples of this style of sediment-hosted copper-silver deposits include the giant Lubin Deposit (52 Mt Cu, 2,275 M oz Ag(1)) in the Kupferschiefer district of Poland and the White Pine Deposit (8.3 Mt Cu, 800 M oz Ag(1)) in the Upper Peninsula of Michigan. Previous surface results from Mitu, including 4.5% copper and 128 grams per tonne (g/t) silver over 1.2m and 6.2% copper and 324 g/t silver over 0.4m, were reported in the Company's May 8, 2006 News Release.

Technical Summary

The Mitu copper-silver property is located 80km southeast of the historic mining camp of Cerro de Pasco and 110km northwest of the Company's Cocha copper-silver project. Mitu is easily accessible via paved road and can be worked year-round.

In January Amera carried out additional geologic mapping along with rock and soil sampling on the property to further define drill targets. Work focused on an area covering four discrete stratabound copper-silver mantos (0.45m to 0.78m thick) within a 250m thick package of Permian-aged Mitu Formation sandstone and limestone that has been traced for 1200m along strike. Mineralization comprising chalcopyrite-chalcocite-malachite-azurite-broncantite is associated with grey-carbonaceous chlorite-altered sandstone and forms millimeter-scale lenses with calcite-pyrite-quartz gangue.

A total of 15 rock outcrop samples and 51 soil samples were collected. Rock sample assays range from 212 to 71,600 ppm copper (7.16%) and 0.2 to 534 ppm silver (g/t). Rock channel samples collected from mineralized mantos and adjacent wall rock are presented as weighted averages in Table 1 below. Soil sample assays range from 3 to 359 ppm copper and 0.2 to 0.6 ppm silver. Soil samples were collected along three grid lines every 30m with lines spacing 250m and 500m. The lines are oriented perpendicular to the strike projection of the mantos and extend the grid toward the northeast from five earlier soils lines.



Table 1: Assay Highlights for Chip Channel Samples

---------------------------------------------------------------------------
Average Grade
Cu Ag -----------------------
Sample # Description Width (m) ppm ppm Width (m) Cu % Ag ppm
---------------------------------------------------------------------------
426562 Hanging wall 0.70 797 4.7
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426563 Manto 0.20 71,600 534.0 1.50 1.10 74.0
--------------------------------------------------
426564 Footwall 0.60 2720 1.6
---------------------------------------------------------------------------
426565 Footwall 0.75 2520 0.4
--------------------------------------------------
426566 Manto 0.75 63,300 336.0 1.72 2.91 146.8
--------------------------------------------------
426567 Hanging wall 0.22 2960 0.6
---------------------------------------------------------------------------
426568 Footwall 1.00 6120 9.2
--------------------------------------------------
426569 Manto 0.50 67,700 144.0 2.50 1.73 32.8
--------------------------------------------------
426570 Hanging wall 1.00 3340 0.7
---------------------------------------------------------------------------
426571 Footwall 1.15 8620 16.3
--------------------------------------------------
426572 Manto 0.80 27,700 84.5 2.55 1.26 33.9
--------------------------------------------------
426573 Hanging wall 0.60 212 0.2
---------------------------------------------------------------------------
426574 Footwall 1.00 4050 4.7
--------------------------------------------------
426575 Manto 0.50 68,000 262.0 2.50 1.53 54.4
--------------------------------------------------
426576 Hanging wall 1.00 254 0.3
---------------------------------------------------------------------------


Conceptual targets at Mitu include the convergence or thickening of the four mantos down-dip of the surface outcroppings. To test this hypothesis 200m spaced pole-dipole induced polarization (IP) and magnetics ground surveys are being carried out over the down dip extension of the mineralized horizons to generate drill targets.

Updated maps for the Mitu Copper-Silver Project can be viewed at www.ameraresources.com.

Analytical determinations for results presented herein were conducted by ALS Chemex Laboratories, an internationally-recognized analytical services provider, in Lima, Peru using gold fire assay with atomic absorption finish and ICP for multielement analyses. Peter C. Ellsworth, M.Sc., Licensed Geologist, and VP Exploration for Amera is a Qualified Person as defined by National Instrument 43-101 and has reviewed the material presented in this News Release.

Amera Resources Corporation is a metals exploration company focused on the Americas. Its strength lies in the discovery and advancement of prospective properties throughout North and South America. Amera is in the midst of an aggressive exploration program focused on its property portfolio in Peru. The second property, in a campaign of three successive drill programs, is currently being drilled. Amera plans to advance various other high potential projects through geophysical and geochemical analysis in the coming year. Management is constantly evaluating new opportunities through its network of contacts in the resource sector. The Amera team is committed to growth and adding shareholder value through precious and base metal discoveries.

ON BEHALF OF THE BOARD

Mr. Nikolaos Cacos, President & CEO

(1) Sediment-Hosted Copper Deposits of the world: Deposit Models and Database By Dennis P. Cox, David A. Lindsey, Donald A. Singer and Michael F. Diggles; USGS Open-File Report 03-107 Version 1.0

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

2008 Number 4

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

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