Amseco Exploration Ltd.

Amseco Exploration Ltd.

January 21, 2008 09:00 ET

Amseco Takes Land Position in Thetford Mines Region Chromite Enriched in Platinum-Pallatium-Rhodium

PIEDMONT, QUEBEC--(Marketwire - Jan. 21, 2008) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") has acquired a 100% interest in a property consisting of 26 mining claims (covering approximately 1320 hectares). The property is part of Coleraine township in the Thetford Mines region. Amseco has acquired the Property in consideration for: 1- the issuance of 450 000 common shares of its share capital, to be issued upon regulatory approval; 2- the payment of $45,000 of which has been paid upon the execution of the agreement; 3- the commitment to conduct exploration work of $100,000 no later than January 21, 2009. The Property is subject to a 3 % net smelting royalty on each of the mining claims, 1.5 % of which may be bought back for an amount of $1,500,000.

The Property is characterized by the presence of ultramafic rocks containing chromite and locally enriched in Platinum-Palladium-Rhodium (PGE). Last exploration field work was done in 2001-2002 by Allican Resources. Height (8) grabs samples from the Starchrome showing returned values up to 13.37 g/t Pt+Pd (Press Release of March 2001). Several other PGE showing are present on the Property.

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

  • Amseco Exploration Ltd.
    Bertrand Dufour
    President and Chief Executive Officer
    450-240-0522 (FAX)