Amseco Exploration Ltd.

Amseco Exploration Ltd.

February 10, 2010 09:00 ET

Amseco Exploration Ltd.: Gold Property Acquisition in the Urban et Souart Townships, Quebec

MONTREAL, QUEBEC--(Marketwire - Feb. 10, 2010) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce the signature of an agreement to acquire a one hundred percent (100%) interest in the Urban South property located in the Urban et Souart townships, 100 km east of Lebel-sur-Quévillon in Abitibi,QC. Amseco is acquiring this property from Michel Lavoie (75%) and Mario Gilbert (25%), both of Val d'Or, QC. This property covers one hundred and two (102) mining claims with an area of 1,632 hectares. These claims are located close to Métanor's (TSX VENTURE:MTO) «Barry» open pit deposit. The northern side of the Urban-South property is contiguous to Glen Eagle Resources' (TSX VENTURE:GER) Nubar/Souart-Macho gold occurrence property. The Urban gold camp is well known and hosts, in addition to Métanor's open pit, Beaufield Exploration's (TSX VENTURE:BFD) gold occurrence as well as the above-mentioned Nubar/Souart-Macho property.

To complete the acquisition Amseco must pay $40,000 to the sellers: $20,000 upon receipt of regulatory approvals and $20,000 within 120 days following these approvals. Amseco must also issue four hundred thousand (400,000) treasury shares which are the object of a four month and one day regulatory hold period. The cash payments and the share issuance are payable to each seller in proportion to their respective ownership interests.

A 1.5% NSR is payable on future production from the property. A third of this royalty is payable to Mario Gilbert and two thirds to Michel Lavoie. This royalty can be bought back by Amseco in exchange for a $750,000 payment payable to Gilbert and Lavoie according to their respective royalty participations.

The Urban project encompasses all of the Amseco controlled claims in the region and is one of its top three exploration projects. It is made up of 240 claims covering a land area of 3,840 hectares. Amseco is planning a major exploration campaign on this project.

Amseco will soon broadcast a technical press release outlining the property and area geology.

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

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