Amseco Exploration Ltd.
TSX VENTURE : AEL

Amseco Exploration Ltd.

May 05, 2011 15:58 ET

Amseco Starts Exploration on Its Tisdale Property in Timmins, ON, New Board Member and Appoints New Chairman of the Board

MONTREAL, QUEBEC--(Marketwire - May 5, 2011) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce that it has started exploration on its 100% owned Tisdale Property strategically situated between the McIntyre mine headframe and Gold Corp. Canada's Dome Mine and Pit. This property consists of four (4) single unit mining claims, covering a total area of 57 hectares located in Tisdale Township, Ontario, in Timmins. The world renowned Timmins gold camp is Canada's most prolific gold producing area having produced more than 65 million ounces since the first gold discovery.

The claims are underlain by metamorphosed volcanic rocks belonging to the Tisdale assemblage that hosts the gold deposits of the Porcupine Gold Camp.

The company will initially establish a detailed control grid, on the southern and eastern sections of the property, consisting of lines cut at 50 m spacing and for a total length of 7 km. Once this grid complete Amseco will initiate the collection of up to 140 soil gas hydrocarbon geochemical samples, taken at 50 meter intervals, in pursuit of the discovery and definition quartz-ankerite-gold mineralized veins.

The results of the geochemical survey will support future plans for an induced polarization resistivity geophysical survey. It is proposed that anomalies that may result from the combination of these two surveys will be diamond drill tested in late 2011 or early 2012. The company has allocated an exploration budget of $25,000 for this first phase.

Results from these programs will be announced after the field work is completed and the acquired information interpreted.

David Powers, P. Geo. (Ontario), consulting geologist on the Tisdale property, is a Qualified Person under National Instrument NI-43-101. He is responsible for the preparation of this press release.

Appointment of new Director

M. LeComte, a member of the Quebec Bar, teaches environmental law at the University Centre formation environment at the University of Sherbrooke. It also acts as consultant in environmental skills development for large companies and as a business analysis in the banking sector. The Board has grant to M. LeComte two hundred forty five thousand (245,000) incentive stocks options exercisable at a price of $0.11 per share. The options shall vest immediately and are exercisable over a period of ten (10) year.

Appointment of new President

The board of Directors appoints Roger Bourgault as Chairman of the Board of Amseco Exploration Ltée. M Bourgault is member of the board since June 2006, and he previously act as Secretary Treasurer.

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.

Contact Information