Amazon Elects to Discontinue Exploration at Lavras Gold Project



    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES/

    TORONTO, July 30 /CNW Telbec/ - Amazon Mining Holding plc ("Amazon" or
the "Company") (AMZ: TSX-V) reports that it has elected to discontinue
exploration at the Lavras Gold Project ("Lavras") located in Minas Gerais
state.
    Amazon's Board of Directors has determined that recent exploration
results do not indicate that Lavras has the grade necessary to host an
economic deposit. Amazon has notified the underlying owners and has also ended
property payments.
    The Company has completed its planned drilling on the Lavras project, it
has reviewed the results and the majority of the holes intersected grades
below necessary cut-offs for economic extraction.
    Amazon remains committed to its strategy of exploring major geological
structures in regions of significant past gold production. The strategy
involves low-cost entry into prospective gold properties where mineral
potential can be quickly assessed. An important aspect of this strategy is to
cease exploration investment and property payments if exploration results fail
to delineate a structure that appears capable of hosting a significant
economic resource.
    The focus of our exploration is the Madeira Gold project in the Amazonas
State of Western Brazil. Amazon staked Madeira. Amazon holds 100% of the
mineral rights, There are no payments due to underlying property owners. The
target is potential near surface gold-rich conglomerates that can be easily
drilled via RAB drilling. In such a geological setting and presuming drilling
is successful, gold could be recovered using gravity techniques using
scalable, low-cost operations that could be constructed in a relatively short
period of time.

    About Amazon

    Amazon is listed on the TSX Venture Exchange and is a mineral exploration
company engaged in acquiring and developing gold exploration properties in
Brazil. Its strategic focus is to acquire projects with demonstrated potential
for hosting gold deposits and to define resources through exploration and
drilling campaigns.

    On behalf of the Board of Directors of Amazon Mining Holding Plc,

    Cristiano Veloso, President & Chief Executive Officer
    -----------------------------------------------------


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    Cautionary Language and Forward Looking Statements
    --------------------------------------------------
    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR ACCURACY OF THIS RELEASE AND THE INFORMATION CONTAINED HEREIN. THIS
    PRESS RELEASE CONTAINS CERTAIN "FORWARD LOOKING STATEMENTS", WHICH
    INCLUDE BUT IS NOT LIMITED TO, STATEMENTS WITH RESPECT TO THE FUTURE
    FINANCIAL OR OPERATING PERFORMANCE OF THE COMPANY, ITS SUBSIDIARIES AND
    ITS PROJECTS, STATEMENTS REGARDING USE OF PROCEEDS, EXPLORATION
    PROSPECTS, IDENTIFICATION OF MINERAL RESERVES, COSTS OF AND CAPITAL FOR
    EXPLORATION PROJECTS, EXPLORATION EXPENDITURES, TIMING OF FUTURE
    EXPLORATION AND PERMITTING, REQUIREMENTS FOR ADDITIONAL CAPITAL,
    GOVERNMENT REGULATIONS OF MINING OPERATIONS, ENVIRONMENTAL RISKS,
    RECLAMATION EXPENSES, TITLE DISPUTES OR CLAIMS, AND LIMITATIONS OF
    INSURANCE COVERAGE. FORWARD LOOKING STATEMENTS CAN GENERALLY BE
    IDENTIFIED BY THE USE OF WORDS SUCH AS "PLANS", "EXPECTS", OR "DOES NOT
    EXPECT" OR "IS EXPECTED", "ANTICIPATES" OR "DOES NOT ANTICIPATE", OR
    "BELIEVES", "INTENDS", "FORECASTS", "BUDGET", "SCHEDULED", "ESTIMATES" OR
    VARIATIONS OF SUCH WORDS OR PHRASES OR STATE THAT CERTAIN ACTIONS, EVENT,
    OR RESULTS "MAY", "COULD", "WOULD", "MIGHT", OR "WILL BE TAKEN", "OCCUR"
    OR "BE ACHIEVED". FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN
    RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE THE ACTUAL
    RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY
    DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED
    OR IMPLIED BY SAID STATEMENTS. THERE CAN BE NO ASSURANCES THAT FORWARD-
    LOOKING STATEMENTS WILL PROVE TO BE ACCURATE, AS ACTUAL RESULTS AND
    FUTURE EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SAID
    STATEMENTS. ACCORDINGLY, READERS SHOULD NOT PLACE UNDUE RELIANCE ON
    FORWARD-LOOKING STATEMENTS.

    Readers are cautioned not to rely solely on the summary of such
    information contained in this release and are directed to the complete
    set of drill results posted on Amazon's website (www.amazonplc.com) and
    filed on SEDAR (www.sedar.com) and any future amendments to such. Readers
    are also directed to the cautionary notices and disclaimers contained
    herein.
    -------------------------------------------------------------------------




For further information:

For further information: Cristiano Veloso, President & Chief Executive
Officer, +44 (0) 20 8133 7607, Fax: +44(0)20 7405 7773, cv@amazonplc.com; Jed
Richardson, VP Corporate Development, (416) 866-2966, Fax: (416) 867-9393;
jed@amazonplc.com; www.amazonplc.com, Renmark Financial Communications Inc.:
Dan Symons, dsymons@renmarkfinancial.com; Barry Mire,
bmire@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717;
www.renmarkfinancial.com

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