Amseco Exploration Ltd.
TSX VENTURE : AEL

Amseco Exploration Ltd.

December 14, 2007 12:43 ET

Amseco Takes Land Position Near Noront Resources Ltd. in Urban Township

PIEDMONT, QUEBEC--(Marketwire - Dec. 14, 2007) - Amseco Exploration Ltd. (TSX VENTURE:AEL)("Amseco") has acquired a 100% interest in a property consisting of 87 mining claims located in north western Quebec's Urban township. Amseco has acquired the Property in consideration for: 1 greater than the issuance of 750 000 common shares of its share capital, of which 500 000 shares will be issued upon regulatory approval and 250 000 shares will be issued on the 6-month anniversary date of the agreement; 2 greater than the payment of $30,000, $10,000 of which has been paid upon the execution of the agreement and $20,000 will be payable on the 6-month anniversary date of the agreement; and, 3 greater than the commitment to conduct exploration work of $150,000 no later than November 3, 2008. The Property is subject to a 2 % net smelting royalty on each of the mining claims, 1 % of which may be bought back for an amount of $1,000,000.

The Property is located 100 kilometres east of Lebel-Sur-Quevillon where results have been obtained by Noront Resources Ltd. ("Noront") (NOT-V) 3 kilometres east of the Property. In a press release dated December 1, 2006, Noront announced the results of three gold assays testing: 1,792.9 grams per tonne (g/t) gold (Au), 800.1 g/t Au and 1,327.9 g/t Au over 4.8 metres.

AMSECO having properties nearby announces that it has initiated a first phase of exploration on the recently acquired Urban property. A crew was mobilized on the site in order to conduct a first-pass of excavating and sampling. Several mineralized zones (pyrite) rich and strongly silicified were observed. About 100 samples were collected and send at Bourlamaque Lab in Val d'Or and assay for gold. Results are pending.

Mr. Bertrand Brassard, P.Geo., M.Sc. Technical Advisor, a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

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

Contact Information

  • Bertrand Dufour
    President and Chief Executive Officer
    450-240-0521 or 450-240-0522