PIEDMONT, QUEBEC--(CCNMatthews - May 30, 2007) - Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is pleased to announce that is has entered into an purchase agreement with Bertrand Brassard, geologist, to acquire a 100% interest in four claims covering 362 hectares in Inverness Township, near Thetford Mines, Quebec (the "Inverness Property"). The claims are contiguous and the property is located within the Appalachian Belt, which is well known for its gold placers.
The property is characterized by significant gold-bearing fluvioglacial deposits. A survey carried out in 1985 by the Geological Survey of Canada indicates values up to 100 g/t Au in concentrated heavy minerals (PF 1332). In 1987, the Explorations Rambo Inc. mineral exploration company (internal technical report - August 1987) undertook a geochemical survey of the heavy minerals all along the Bullard spring (which is located in the center of the property). This survey reveals the presence of gold in all the recent alluvia and in the glacial and fluvioglacial deposits. The presence of gold on the property is also confirmed by more recent work carried out by Mr. Jean Bernard in 2003, as part of a project financed by the Fonds d'exploration miniere de l'Estrie-Chaudiere-Appalaches. Three spiral tests established the presence of native gold in the surface sediments. Several other tests should be carried out on the whole property with a tight grid to confirm the precise quantity and distribution of gold. The superficial deposits map of the sector of the Ministere des Ressources naturelles et de la Faune indicates a fluvioglacial delta which spans over at least three kilometres by an average width of one kilometre. Until now, no resources assessment has been established.
Amseco acquired a 100% interest in the Inverness Property in consideration for a sum of $10,000 upon execution of the purchase agreement, and the issuance of 100,000 common shares to Bertrand Brassard, subject to the approval of the TSX Venture Exchange. The acquisition is subject to the payment of a royalty of 1% of the net smelter return on each mining claim acquired, part of which (0,5%) is redeemable for $500,000.
Bertrand Dufour, President and Chief Executive Officer of Amseco stated that "today's gold market and the modern technical ways for recuperation call for a revaluation of the potential of the Inverness Property. Our Geologist is currently preparing NI 43-101 report to support an eventual recuperation program on the property."
Benoit M. Violette, geologist and a Qualified Person under National Instrument 43-101, has reviewed this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Amseco Exploration Ltd.
President and Chief Executive Officer