Vanstar Mining Resources Inc.

July 08, 2010 14:25 ET

Vanstar Sells Its Urban Barry Gold Property to Amseco

LA PRAIRIE, QUEBEC--(Marketwire - July 8, 2010) - The management of Vanstar Mining Resources Inc. (TSX VENTURE:VSR) has signed an agreement with Amseco Exploration Ltd. (TSX VENTURE:AEL) to sell its 100-per-cent interest in 20 cells located 100 kilometres east of Lebel-sur-Quevillon, in the Abitibi area.

The transaction calls for a cash payment of $5,000, the issuance of 75,000 shares of Amseco and the payment upon production of a 1-per-cent net smelter returns royalty, half of which can be bought back in exchange for a payment of $150,000.

The TSX Venture Exchange has neither approved nor disapproved the content of this press release.

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