Amseco Exploration Ltd. (TSX VENTURE:AEL) ("Amseco") is happy to announce the
signature of an acquisition agreement for a 100% interest in two claim blocks
that make up the Urban-Oasis property located in the Carpiquet township of
Quebec which is some 100 km east of Lebel-sur-Quevillon in the Abitibi region.
Amseco is acquiring the properties from Jean (40%) and Gerard Robert (20%), Les
Explorations Carat Inc. (20%) and Diane Audet (20%) all from the Val d'Or, QC,
area. The property consists of eleven (11) map designated mining claims ("CDC")
and 5 staked claims for a total area of 696 hectares. 


The claims include drill hole NO-86-3 completed in 1986 by Ressources Onyx Inc.
which intersected 1.2 meter at 13.1 g/t Au. Onyx also completed some stripping
followed by channel sampling which revealed 4.88 meters grading 21.9 g/t Au. 


The claims are located in the Urban-Barry mining camp that hosts Metanor's
(TSX-V-"MTO") "Barry" open pit gold mine as well as Beaufield Explorations'
("BFD" TSX-V) Lac Rouleau gold showing, Eagle Hill's Windfall showing (TSX-V : "
EAG ") and the Murgor zone. In addition there are a number of other surface gold
showings as well as a number of diamond drill holes intersections which revealed
the presence of gold including the Lac Kent and Macho river discoveries. 


To complete the acquisition Amseco must pay in cash to the vendors $6,000 and
also issue three hundred thousand (300,000) treasury shares that will become
free trading 4 month and 1 day following the regulatory approvals. 


A 1.5% NSR is payable on all production from the property. One half of one
percent (0.50%) of the NSR can be bought back by Amseco for a payment of
$200,000.


The Urban-Barry project, which includes the Amseco controlled claims or over
which it holds an option to purchase, now covers seven hundred and twenty two
(722) claims in the Urban-Barry mining camp. This represents an area of more
than thirteen thousand one hundred and sixty four (13,164) hectares, or 131.64
square kilometers. The project is one of the company's three main gold projects
that also include the Malartic and Timmins properties. Amseco strongly believes
that the Urban Barry region will greatly benefit from a unified exploration
approach and it forecasts that the expansion of the exploration effort will
deliver positive results.


We seek safe harbour
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