Amanta Resources Ltd.

Amanta Resources Ltd.

June 23, 2008 14:17 ET

Formal Signing Ceremony Held for Amanta's Copper Concession in Laos

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2008) - Amanta Resources Ltd. (Amanta) (TSX VENTURE:AMH) is pleased to report that the formal Signing Ceremony for the Copper Mineral Exploration Agreement, between the Government of the Lao PDR and Amanta, was held in Vientiane, Laos, on Friday 20th June, 2008.

The Ceremony was attended by senior Lao Government officials including H.E. Mr. Thongmy Phomvixay (Vice-Minister of Planning and Investment), H.E. Mr. Somboun Rasasombath (Vice-Minister of Energy and Mines), H.E. Mr. Phanthong Phitthoumma (Vice-Governor of the Province of Luang Namtha), as well as Mr. Gregory Goldhawk (Commercial Counsellor, Embassy of Canada) and Directors and staff from Amanta.

The Agreement grants Amanta exclusive rights over a 200 km2 Concession area in Luang Namtha province, northern Laos, some 600 km from Vientiane, the Capital city of the country. The Agreement provides for an initial 5-year prospecting, exploration and feasibility study period, which may be extended upon application by Amanta to the Government.

Amanta's President and CEO, Dr. Gerald Wright commented "Amanta is honoured to be the first Canadian company to be granted such a concession by the Government of the Lao PDR and the Company looks forward to working with the Government and the province of Luang Namtha for the successful development of this exciting copper project."

Under the terms of the Agreement, Amanta will hold a 100% interest in the Luang Namtha Copper Project and undertakes to complete an agreed exploration programme, make annual surface rental payments, ranging from US$20,000 to US$33,000 and post environmental and performance bonds totaling US$250,000 to the Government.

Amanta will now commence reconnaissance and exploration programmes, which will include surface sampling and mapping followed by airborne Magnetic and EM surveys. This initial programme will take about 6 months to complete. The concession area lies along the Yulong - Luang Namtha polymetallic porphyry belt which hosts a number of mines including the Yulong copper mine, in eastern Tibet, which has a reserve of some 630 million tonnes grading 1.0% copper.


Gerald D. Wright, President

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