Amseco Exploration Ltd.

Amseco Exploration Ltd.

April 05, 2011 10:38 ET

Amseco Exploration Ltd.: First Three Diamond Drill Holes in Barry-Urban Intersect Zone 18

MONTREAL, QUÉBEC--(Marketwire - April 5, 2011) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") announces the geological results of the first three diamond drill holes (« DDHs») of its winter campaign as well as the completion of its detailed Lac Rouleau IP and MAG surveys.

The geology encountered in Amseco's first 3 DDHs at Lac Rouleau is identical to the geology encountered and reported by Falconbridge-Beaufield in 1986-1988 and by Beaufield in 2004. The core samples will soon be sent to the laboratory for assay and as soon as results are received they will be announced.

Historically, Falconbridge and Beaufield report that the drill holes in Zone 18 show mineralised widths of between 1 to 5 m with average grades between 1 g/t to 27 g/t Au. According to the « Ministère des Ressources naturelles et de la Faune du Québec » (« MRnF-Q »), non 43-101 compliant resources would be approximately of 600,000 tons grading 6,9 g/t Au (# Cogîte 32G04-0011).

Some historical drill holes gave the following results :

DDH # Au grade Intersection (m)
101-76 21.31 g/t 0.22 m
87-63 27.53 g/t 3.05 m
87-51 7.64 g/t 7.42 m
BFRL 401 11.63 g/t 3.73 m
BFRL 409 6.05 g/t 4.49 m
101-68 5.82 g/t 6.00 m

The first three DDH, out of a total of 6 for 2,400 metres of drilling, have all intersected the Lac Rouleau Fault (« LRF ») and Zone 18. Generally, LRF corresponds to a vertical shear zone with a ENE orientation. Its average width is between 20 to 40 meters and is indicated over a length of at least 2,500 m by DDH and geophysical surveys.

The LRF marks the contact between the Macho Formation basalts in the south and a felsic blocky tuff unit to blocks in the North, called « Rouleau member ». The fault shows an intensification of the alteration and shearing of the surrounding units. The alteration products reveal some chlorite, carbonate and quartz while the product of the shear and the deformation units show a lengthening of the tuff fragments as well as a strongly developed schist to chlorite and little to extremely deformed quartz-carbonate veins. Locally fuschite, albite and tourmaline are associated to quartz-carbonate veins. The LRF contains low grade pyrite levels (tr-2%).

The mineralisation of Zone 18 consists in native gold (rarely visible) and in auriferous pyrite (3-5%) disseminated in a very silicified white, light to dark grey to grey-black colored rock. The zone is cut by quartz-carbonate veinlets. Gold is found in micro-fractures in the silicified rock or in thin flakes that follow the edge of the quartz-carbonate veinlets.

Geological results of the first 3 DDHs:

The current drill program was oriented in a section which covers the extension of the Lac Rouleau Fault (« LRF») found at vertical depths of -150 m and -300 m below surface and located between lines L1975 E and L 2100 E.

DDH RL11-01

Line : 2100 E Station : 109+00 N Azimuth : 346° Incline : -55° Length : 252 metres

The LRF was intersected between 152 and 217 m, over a 65 m. length (37 m. horizontal).

DDH RL11-02

Line : 2100 E Station : 108+00 N Azimuth : 346° Incline : -50° Length : 363 metres

The LRF was intersected between 228 and 298 m, over a length of 70 m. (45 m. horizontal).

DDH RL11-05

Line : 2000 E Station : 108+00 N Azimuth : 346° Incline : -50° Length : 400 metres

The LRF was intersected between 279 and 348 m, over a length of 68 m. (44. m horizontal).

The data from the recently completed IP and MAG survey is being interpreted at the moment. The final report should be received within the next month. The results will be announced as soon as they are received.

The Lac Rouleau property is located in the Barry-Urban, Quebec, mining camp and is the object of an option agreement to acquire a 50% interest from Beaufield Resources Inc. (« BFD » :TSX-V). This region is also being actively explored by Metanor (« MTO » : TSX-V), Eagle Hill (« EAG » : TSX-V), Bon Terra (« BTR » :TSX-V) and Key Gold Holding (« KGH » : TSX-V).

Amseco's management is encouraged about the geological results. It awaits the assay results of the completed DDHs. A fourth DDH RL11-03 is being completed and two other ones are planned (RL11-04 and RL11-06).

Amseco is waiting for the laboratory assay results on its recently completed Malartic project DDH program. As soon as the lab report is received it will be released.

This press release has been prepared by, Jean-Pierre Cloutier, P. Geo. He is a Qualified Person under National Instrument NI-43-101. He is a Director of Amseco Exploration and currently leads the company's exploration efforts in the Barry-Urban area.

We seek safe harbour

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