Amseco Exploration Ltd.: Financing of the Exploration Campaign for the Manenga Property (Potash)
Montreal, Nov 24, 2014 - Amseco Exploration Ltd. (TSXV: AEL) (Amseco) Following the Agreements entered into with Agromine Investment Limited (Agromine) and Mangrove Capital Ltd (Mangrove) on February 10, 2014, under which Amseco may acquire the rights, title and interests held by these two companies in Manenga Mining Potash SA, a Congolese entity that holds 80% of the rights in the Manenga permit in the Republic of Congo, Amseco is still working on the financing of the exploration campaign. The Manenga property is located near Pointe-Noire, on the Atlantic ocean. As stated in the NI 43-101 Report signed by Douglas F. Hambley on March 31, 2014, a potash production took place on the Manenga property in the 70’s. Considering the potential of the property, the 43-101 Report recommends that further exploration and a drilling program be carried out in order to establish the extent of the mineralization in the property. Neighbors in the area of the Manenga property are also Potash properties, owned by Mag Industries and Elemental Minerals.
While the financing campaign is taking more time than expected due to the global market conditions in the mining sector in general and specifically the potash industry, Amseco is keeping the property and its engagements under the agreements with Agromine and Mangrove in good standing in order to protect all of its rights thereunder.
Amseco is also contemplating all options and possibilities regarding its rights under the Manenga permit.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Jean Desmarais, Président
Exploration Amseco Ltée
620, rue Saint-Jacques bur 110
Montréal QC H3C 1C7
Tel : 514 284-5111
Fax : 514 284-6111
Cell : 514 898-5326
www.amsecoexploration.com