Amseco Exploration Ltd.
TSX VENTURE : AEL

Amseco Exploration Ltd.

June 11, 2008 09:00 ET

Amseco Acquires a Nickel Property in Lac Rocher Area, Abitibi

PIEDMONT, QUEBEC--(Marketwire - June 11, 2008) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce that it has acquired a nickel property consisting of 1 claim block totalling 81 mining claims covering approximately 1,300 hectares in Abitibi, Quebec. The property is located on the Frotet-Evans Greenstone Belt in northwestern Quebec, 140 kilometres northeast of the village of Matagami and may be reached by road.

The property has been acquired in consideration for a payment in cash of $45,000 and the issuance of 450,000 common shares. The vendors will keep a royalty of 2% of the net smelter returns, half of which (1%) can be bought back for $1,000,000.

The new property surrounds the western and northern part of the Lac Rocher nickel-sulphie discovery which is characterized by massive sulphide mineralization at the footwall contact of an unmetamorphosed mafic intrusion with the enveloping country rock (paragneiss). Based on drilling to date and using a 0.5% nickel cut-off, the measured and indicated resource totals 1,190,288 tonnes grading 0.91% nickel for approximately 25 million pounds of in-situ nickel (reference is made to the press release issued by Nuinsco Resources Limited on December 27, 2006). Both properties have magnetic signature indicating mafic intrusive rock.

Mr. Donald Theberge, M.B.A., a Qualified Person within the meaning of National Instrument 43-101, supervised the preparation of the information in this news release.

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

Contact Information

  • Amseco Exploration Ltd.
    Bertrand Dufour
    President and Chief Executive Officer
    450-240-0521
    450-240-0522 (FAX)