MONTREAL, QUEBEC — (Marketwire) — 12/07/12 — Amseco Exploration Ltee. („Amseco“) (TSX VENTURE: AEL) announces its decision not to go forward with the acquisition of the Brosnor Gold Property contemplated in an Agreement signed on November 3rd with Upper Canyon Minerals Corp. („Upper Canyon“) (TSX VENTURE: UCM). Amseco was not able to raise the funds required to implement this transaction.
Jean Desmarais, Amseco-s President, said,“ this acquisition was to represent an important milestone for Amseco, but the market conditions and the lack of clear direction in the economy, which all junior mining are currently experiencing is responsible for the hard times we are having in raising funds“.
Amseco also announces the resignation of Jean-Pierre Cloutier as a member of the board. The company would like to thank Mr. Cloutier for his significant contribution to the board.
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.
Contacts: Jean Desmarais President Exploration Amseco Ltee (AEL.V) 514 284-5111 / Cell : 514 898-5326 514 284-6111 (FAX)
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