Amanta Resources Ltd TSX-V: AMH (Amanta) is pleased to report that The government of the Lao People’s Democratic Republic (Lao PDR), through The Committee for Planning and Investment, has informed Amanta that it has approved the Company’s application to explore for copper and associated minerals in northern Laos. The Committee for Planning and Investment has invited Amanta to commence negotiations in respect of a Mineral Exploration Agreement.
The Agreement will cover an area of 200 km2 and will be for a period of up to eight-years, with provision for time extensions.
During the past year and with the permission of the Lao government, Amanta completed some initial reconnaissance within the Udom Xai and Luang Namtha Provinces where the Company’s application area is located. This work included mapping and sampling of old workings, stream sediment sampling, as well as some limited rock and soil sampling.
The area of interest is underlain by a regional Permo-Carboniferous sedimentary package of shale and siltstone units and Mesozoic intra-continental sedimentary clastics including abundant redbed units. Mapping to date had not recognised any intrusive or volcanic rock units but Co geologists have recovered mineralised samples of porphyritic andesite, possibly Triassic, indicating that mapping of the area is generally incomplete.
High grade vein breccia and replacement stratiform sediment hosted exhalative copper-silver mineralisation occurs in several parts of the proposed exploration area and evidence of old mining activities is abundant. Reconnaissance surface sampling identified massively mineralised blocks and widespread gossanous cover. Rock grab samples returned up to 30% copper. Samples from the gossanous material returned values of up to 3% copper.
Amanta is presently planning appropriate exploration programmes for the area. These will include airborne magnetic and electro-magnetic surveys, stream sediment sampling, mapping and initial reconnaissance drilling. Exploration programmes will commence as soon as the Mineral Exploration Agreement is finalised between Amanta and the Lao PDR government.
Amanta is setting up a Representative Office in Vientiane and has submitted an application for a Foreign Investment Licence, in connection with the Mineral Exploration Agreement.
Gerald Wright, Amanta’s President and CEO commented, “Amanta is pleased that the Lao government has agreed to grant this concession to the Co and believe that Amanta is the first Canadian company to be granted such a concession. This copper project, together with our gold and tungsten interests in Thailand, gives Amanta an impressive project portfolio and expands our interests in precious and base metals in Southeast Asia.”
Geological Information contained within this report has been verified by Pieter Bakker (Director, Executive VP -Amanta Resources Ltd). Bakker satisfies the requirements of a Qualified Person as defined in the National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
Amanta Resources Ltd is focused on mineral exploration, development and production in Thailand and the Southeast Asian region. The Co concentrates on the systematic evaluation of known mineral occurrences, rather than “greenfields” exploration, creating early opportunities to finance and develop mines.
ON BEHALF OF THE BOARD OF
AMANTA RESOURCES LTD.
“Gerald D. Wright”
Gerald D. Wright,
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this News Release.
For further information
Amanta Resources Ltd: Patrick Cauley, vice President & CFO, (604) 730-9505, Fax: (604) 648-8096, firstname.lastname@example.org
Renmark Financial Communications Inc.: Barry Mire: email@example.com
Neil Murray-Lyon: firstname.lastname@example.org, (514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com
Source: Amanta Resources Ltd
January 31, 2008