Amseco Exploration Ltd.

Amseco Exploration Ltd.

February 22, 2011 13:09 ET

Amseco Starts First Diamond Drilling Program on the Lac Rouleau Property Located in The Barry-Urban Area of Quebec

MONTRÉAL, QUÉBEC--(Marketwire - Feb. 22, 2011) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") wishes to announce the start of a diamond drilling campaign and geophysical survey on the Lac Rouleau property, located in the Barry-Urban gold exploration region of Québec. This property is under an option and Joint-Venture agreement with Beaufield Resources Inc. (TSX VENTURE:BFD). This area in general and the Lac Rouleau zone in particular, is the site of intense mineral exploration activities by Metanor (TSX VENTURE:MTO), Eagle Hill and Bon Terra (TSX VENTURE:BTR).

The diamond drilling campaign will consist in the sinking of six (6) holes totaling 2400 meters of AQ (36.5 mm diameter) cores. The expected length of these holes is between 250 and 450 m. They are oriented towards the definition, at a vertical depth of -150 and –300 meters underground, of a sector of Zone 18 where no drilling has been done to date. The objective of these drill holes is to better understand the presence of a diorite body injected in the western part of the zone, to understand its potential role in the auriferous mineralization and to increase its economic potential.

The geophysical survey will cover a sector of 2,500m by 500m along 15 km of lines. The area covered by the survey will include Zones 18, 17 and 14, in addition to gold showings #2 and #3. There will be Induced Polarization ("IP") and continuous reading Magnetometric (« MAG ») surveys along lines spaced at 100 meter intervals.

The IP parameters (pole-dipole; a=12.5 m; n=8) are based on the positive results obtained during the December 2010 tests. These results showed that electrodes spaced at 12.5 m intervals showed the presence of mineralized zones while the survey done at 25 m spacing showed a weak association along one of the six test lines and the 50 m spacing survey did not uncover any anomalies. This weak response is as a consequence of the low gold pyrite association levels encountered (3 to 5%). Locally, these levels can be higher which is sufficient to generate an IP anomaly. If only one line out of three shows an IP anomaly, this result allows the anomalies to be connected, and possibly indicate the hidden position of the Lac Rouleau fault. This fault hosts the region's most important gold zones.

The continuous reading MAG survey will permit the detection of narrow magnetic zones that could be related to the Lac Rouleau Fault while specific readings at 25m intervals could overlook these same zones.

It is worth mentioning that the Zone 18 mineralization consists of some Visible Gold and low quantities of auriferous pyrite disseminated in a schistified volcanic rock, which is silicified and strongly carbonatized known as Altered Felsic Tuf. Zone 18 does not outcrop on surface. It is covered with between 0.5 to 3m of overburden. In the historical diamond drill holes done close to the surface Zone 18 is shown over a minimal horizontal length of 200m. At depth certain drill holes intercepted the zone down to 400m and over a linear distance of 350m. The thickness of the zone is between 1 to 5 m. The average Gold grades are between 1 g/t to 27 g/t. 

According to a geological report published by the Ministère des Ressources naturelles et de la faune –Québec (MRNFQ), Zone 18 could contain 544,000 tons grading 7.2 g/t Au.(Badyayera, 2002; RG-2001-14). These resources have not been validated and are not National Instrument NI 43-101-compliant.

Strategy :

Amseco is strategically positioned in the Barry-Urban mining camp. Including Amseco's current drilling program there is currently three drill campaigns being carried in Barry-Urban: Eagle Hill and Bonterra (TSX VENTURE:BTR). Metanor (TSX VENTURE:MTO) is also continuing its exploration efforts. The region has created enormous interest with investors.

Amseco's management is confident that the results from this first drill campaign will increase its geological knowledge of this area and contribute to the systematic exploration of the project in a sector favourable to the occurrence of a gold ore body.

The Barry-Urban project, which includes the Amseco-owned claims and the ones over which it holds an option to joint-venture. The project now covers eight hundred and forty-seven (847) claims in the Barry-Urban mining camp. This represents an area of more than eighteen thousand three hundred and seventy-three (18,373) hectares, or 183.73 square kilometers. Amseco is now the participant with the largest land position in the Barry-Urban area.

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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