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.
For further information:
Dustin Elford, President (604) 669-2901