TSX-V. AMU
VANCOUVER, Oct. 18, 2012 /CNW/ - The Company (AMI
Resources Inc. - TSX-V Symbol AMU) is pleased to announce that
it has entered into an Option-Earn in Agreement with Middle Island
Resources Ltd. ("MDI"), a public company listed on the Australian
Stock Exchange.
Under the Option Agreement, MDI will have the
right to earn an initial 51% interest in all the Company's assets
in Niger by completing
US$1,000,000 in work expenditures and
property payments during a two-year period. MDI after earning an
initial 51% interest has the right to increase it's interest to 70%
by spending an additional US$1,000,000 in work expenditures and property
payments during the third year.
The Company's Niger project consists of the option agreement
with Golden Star Resources Ltd. to earn a 51% interest in the Deba
& Tialkam licenses, along with the 100% owned Boksay license
and Gourmande license application. These properties cover
approximately 1159 sq km within the Sirba greenstone belt which
hosts Semafo's Samaria Hill mine. AMI welcome's MDI's financial
commitment and technical expertise to further develop this
project.
We seek safe harbour.
"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."
SOURCE AMI Resources Inc.