Amseco Exploration Ltd.

Amseco Exploration Ltd.

November 15, 2010 12:39 ET

Amseco Appoints Jean-Pierre Cloutier, P.Geo., as Director/Grants Additional Options

MONTREAL, QUEBEC--(Marketwire - Nov. 15, 2010) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce, subject to regulatory approval, the appointment of Jean-Pierre Cloutier, P. Geo., to its board of directors effective immediately. The Board of Directors has granted 350,000 stock options to Mr. Cloutier exercisable for a period of ten years at $0.15 per share.

Mr. Cloutier replaces Nicolas Patry who resigned from the Board to join the Technical Advisory Committee. The Board wishes to thank Mr. Patry for his valuable insight and experience since he became a Director in 2007. Amseco will continue benefiting from his experience through his participation on the Technical Committee.

Jean-Pierre Cloutier, P. Geo., B.Sc., Univ. de Montréal, 1968, has exclusively worked in the mining industry where he has accumulated more than 40 years of diverse mineral exploration experience. From 1974 to 1993, he was initially senior geologist, and between 1986 and 1993, Regional Exploration Director for Quebec for Falconbridge Ltd. (now Xstrata). During this period he elaborated led and supervised regional exploration programs that included extensive definition drilling programs on existing mineral deposits.

Over the years he has developed an expertise in the elaboration and organization of large-scale multi-disciplinary exploration programs, project management and mineral property evaluation. He has written and managed a number of joint-venture agreements and other types of exploration contracts.

Mr. Cloutier was closely involved in exploration and development programs for Nickel (Raglan deposit and mine), Gold (Kiena, Lac Shortt, Callahan project, Lac Pelletier and Barry-Urban), and base metals (Weedon, Clinton, Cupra-Eastrie deposits) in the Eastern Townships of Quebec for the Sullivan Mining Group.

In 1988, he and his team members won the "Prospector of the Year" award from the "Association des Prospecteurs du Québec" for their discovery of the Lac Rouleau (Zone 18-Barry-Urban) and Lac Pelletier deposits. He actively contributed to the increase of Gold Nickel and Base Metal reserves in a number of deposits as well as the discovery of Gold and Base Metal deposits. 

As a consulting geologist since 1994, Mr. Cloutier has managed a number of exploration programs, mainly for junior exploration companies. He has authored a number of 43-101-compliant technical reports as well as many evaluation reports.

Since March 2010, Mr. Cloutier has been Amseco's program manager for the Barry-Urban project. He will continue to manage the exploration program undertaken as per the Interest Acquisition and Joint-Venture Agreement on Beaufield Resources' Barry-Urban claims. As well he will advise the Board on the Corporationès other projects and minieral ventures.

Amseco considers that Mr. Cloutier's extensive geological knowledge together with his substantial exploration experience, more specifically in the Barry-Urban camp, will help Amseco become one of the most important participant in this high potential mining area as well as in the development of its other projects.

Forward Looking Statements

This news release may contain certain forward looking statements within the meaning of the Canadian securities legislation. These forward looking statements relate to the company's future exploration plans, activities and expenditures with regards to the property. The forward looking statements within this news release represent the company's management best knowledge and judgment based on the current facts available at the time of this news release. Forward looking statements involve a certain amount of known and unknown risks and factors which may cause the actual results and achievements of the company to be materially different from the company's expectations, objectives and projections.

We seek safe harbor

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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