Amseco Exploration Ltd.
TSX VENTURE : AEL

Amseco Exploration Ltd.

November 19, 2010 14:26 ET

Amseco Exploration Ltd.: Partial Private Placements $652,000: $239,200-Flow-Through Shares, $412,800-Treasury Shares

MONTRÉAL, QUÉBEC--(Marketwire - Nov. 19, 2010) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") announces that it has completed the second part of two non-brokered private placements.

The first private placement of a value of $239,200 is through the issuance of Flow-Through shares. Subject to regulatory approvals the Corporation will issue one million four hundred and ninety-five thousand (1,195,000) shares at a price of $0.16 each. Of this amount, $0.12 will qualify as flow-through expenditures and $0.04 is for working capital purposes. $191,360 is raised for exploration purposes and $47,840 to increase its treasury. Each share comes with one-half warrant. Each warrant gives the holder the right to acquire an additional share at a price of $0.25 for a twenty-four (24) month period from the issue date. Amseco will issue 747,500 of these warrants.

The second placement is for an amount of $412,800. Subject to regulatory approvals Amseco will issue three million four hundred and forty thousand (3,440,000) common treasury shares at a price of $0.12 each and three million four hundred and forty thousand (3,440,000) warrants each giving the holder the right to acquire an extra share at a price of $0.16 for a 24 month period from the issue date. Thus Amseco obtains $412,800 to increase its working capital. The Corporation will issue three hundred and fifty thousand (350,000) Finder's Warrants, to FPC First Pacific Capital (Canada) Corp. of Vancouver, each giving the right to acquire an additional Amseco share at a price of $0.16 per Option over a 24 month period after the completion of the Placements.

In correction to the press release announcing the completion of the first part of the Private Placements Amseco will not issue Agent's Option to Paradox Public Relations.

The following Insiders have participated in the Private Placements:

Jean Desmarais, President, through his holding company 4453158 Canada Inc., 80,000 flow-through shares at $0.16 each as well as 40,000 warrants with an exercise price of $0.25;

Reynald Couillard, Chairman of the Board, 100,000 flow-through shares at $0.16 and 50,000 warrants at $0.25;

Roger Bourgault, Diirector, 100,000 flow through shares at $0.16 and 50,000 warrants with an exercise price of $0.25, as well as 150,000 treasury shares at $0.12 and 150,000 warrants at $0.16;

Lyne Plante, Director, 30,000 flow-through shares at $0.16 and 15,000 warrants at $0.25, as well as 10,000 treasury shares at $0.12 and 10,000 warrants at $0.16; and

Liette Nadon, CFO, 20,000 flow-through shares at $0.16 and 10,000 warrants at $0.25, as well as 30,000 treasury shares and 30,000 warrants at $0.16.

The second part of the private placements was completed under a Price Protection request filed with the TSX-V on November 2, 2010, when the Corporation's shares were trading at $0.115 per share. The shares issued as part of these Placements are subject to resale restriction for a 4 month and one (1) day period.

The exploration activities on the Corporation's three (3) main projects (Malartic, Barry-Urban and Yasinski) are progressing rapidly. In the near future, Amseco will announce the award of a drilling contract on its Malartic property. An Induced Polarisation geophysical survey will soon be initiated on the Barry-Urban project over Zone 18 of the Lac Rouleau area in an effort to confirm the location of priority drill targets. The Company will soon be completing the compilation of historical geological work done over the last 25 years on its Yasinski project, to confirm drill targets. The results from this compilation will be broadcast by way of a geological press release on this project.

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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