Amseco Exploration Ltd.
TSX VENTURE : AEL

Amseco Exploration Ltd.

July 08, 2010 09:15 ET

Amseco Exploration Ltd.: Acquisition of Two Gold Mining Properties and Staking of Claims in the Barry-Urban Mining Camp, Quebec

MONTREAL, QUEBEC--(Marketwire - July 8, 2010) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce the signature of two (2) acquisition agreements for 100% interests in:

One eighteen (18) map-designated claims ("CDC") covering an area of 936 hectares,owned by Vantex Resources Ltd. (TSX-V:"VAX"), of La Prairie, QC, and

A second property made up of twenty (20) map-designated claims ("CDC") covering an area of 1,040 hectares whose owner is Vanstar Resources Inc., of La Prairie, QC.

Amseco also wishes to announce the staking of an additional thirty-four (34) claims, covering an area of five hundred and forty (540) hectares. These properties and the additional staked claims are located in the Barry-Urban gold mining camp which is 100 km east of Lebel-sur-Quévillon, QC, in the Abitibi area.

The Vantex transaction calls for the issuance of 175,000 shares of Amseco and the payment upon production of a 1% NSR, half of which can be bought back in exchange for a payment of $150,000.

The Vanstar transaction calls for the payment of $5,000, the issuance of 75,000 shares of Amseco and the payment upon production of a 1% NSR, half of which can be bought back in exchange for a payment of $150,000.

The Vantex and Vanstar properties are contiguous to the northwestern limit of Amseco's Urban and Carpiquet township properties. The newly staked claims are at the eastern limit of Amseco's Urban township properties (NSTC sheet 32G04).

The claims are located in the Barry-Urban mining camp that hosts Métanor's (TSX-V-«MTO») «Barry» open pit gold mine as well as Beaufield Explorations' («BFD» TSX-V) Lac Rouleau gold showing, Eagle Hill's Windfall showing and project and the Murgor zone. In addition there are a number of other surface gold showings as well as a number of diamond drill holes intersections which revealed the presence of gold including the Lac Kent and Macho river discoveries.

Amseco's Barry-Urban project, which includes the 100%-owned claims and those over which it holds an option to purchase, now covers eight hundred and forty eight (848) claims in the Urban-Barry mining camp. This represents an area of more than eighteen thousand one hundred and thirty (18,130) hectares, or 181.30 square kilometers. Amseco is the participant with the largest land position in the Barry-Urban mining camp.

The project is one of the company's three main gold projects that also include the Malartic and Timmins properties. Amseco strongly believes that the Barry-Urban region will greatly benefit from a unified exploration approach and it forecasts that the expansion of the exploration effort will deliver positive results.

We seek safe harbour

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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