Amanta Resources Enters into Tungsten Joint Development Agreement in Thailand

Vancouver’s Amanta Resources Ltd. announced the signing of a joint development agreement with Thailand’s Mae Fah Mining Ltd. to acquire and develop up to four formerly producing tungsten mines in Thailand. Under the terms of the agreement, Mae Fah will be responsible for acquiring the exploration and development rights for each of the areas, while Amanta will have overall responsibility for technical management of all exploration and development activities. Amanta will have the right to earn an initial 49% working interest in each project acquired by funding and conducting agreed exploration and development activities with an option to acquire another 41% interest by providing Mae Fah with a 10% carried interest in the project. Under the agreement, Amanta will pay Mae Fah US$50,000 for the initial Mae Lama project acquisition. Amanta will pay an additional US$25,000 as each subsequent project is acquired. Mae Fah will also receive a 1% net smelter royalty on all mineral production from any property under the agreement.