AMI Resources (AMU.V) extends concession in Ghana and renames it to "North Ashanti Project"
NEWS RELEASE
TSX.V - AMU
June 24, 2004
MAJOR ASHANTI PROJECT EXPANSION
Vancouver, B.C. – The Company wishes to announce that it has finally received notification from the Minerals Commission of Ghana that they will be recommending the granting of our new license application in the Ashanti region to the Minister of Mines. Upon payment of the normal license fees and permits, the Minister of Mines will issue a license for an initial two year period with renewals available upon application. The Company will hold 100% interest in this new concession subject to a 10% carried interest by the Ghanaian government. This new license encompasses an area of approximately 136 sq km and is contiguous to our existing 37 sq km Beposo concession. (a map can be viewed at www.amiresources.com ). With this new ground the Company will control approximately 20 km of strike length along the northern portion of the Ashanti Trend between the Obuasi Mine (650,000+ oz gold per year) and the Konongo/Obenamase Mine (former gold producer). The acquisition of this strategically located new ground is a milestone for the Company in that it more than quadruples the size of our existing land position on the Ashanti Trend. Exploration work by the previous license holder has located a continuous 5.5 km mineralized gold zone and a 2 km parallel structure. The Company is in the process of reviewing the historical data from the previous license holder’s initial exploration program. This data will greatly assist the Company’s future exploration programs. With the Company’s larger area of influence on the Ashanti Trend the two concessions will now be referred to as the North Ashanti Project.
On behalf of the Board of Directors,
“Dustin A. Elford”
Dustin A. Elford
President
AMI Resources Inc.
Suite 900-595 Howe Street, Vancouver, B.C., Canada V6C 2T5
T 604 669-2901 F 604 669-8922 Toll Free 1 888 669-2901 E ami@mininggroup.com www.amiresources.com
