| January 11, 2010 Amato Appoints New Officer And Auditor | |
| VANCOUVER, BC, January 11, 2010 /CNW/ - Amato Exploration Ltd. (the "Company" or "Amato") (TSX-V:AMT), (http://www.amatoexploration.com), is pleased to announce the appointment of Pamela Egan as Chief Financial Officer and Corporate Secretary. Amato's Board of Directors extends thanks to Martin B. Carsky who steps down from the roles of Chief Financial Officer, Corporate Secretary and Vice-President, Finance of the Company due to other business commitments but who remains Chair of the Audit Committee. Ms. Egan is experienced in the financial management and regulatory compliance of dynamic organizations across Canada, private and public, with extensive experience in building financial systems and controls. She has held financial roles with RADARSAT International Inc., CUC Broadcasting Ltd. (now Shaw Communications) and most recently with Protox Therapeutics Inc. Ms. Egan is a graduate of the University of Waterloo where she received her Bachelor of Arts in Economics in 1987 and has held the designation of Certified Management Accountant since 1992. Change of Auditor The Company announces that it has requested the resignation of Minni, Clark & Company as the auditor of the Company and that it has appointed Dale Matheson Carr-Hilton Labonte LLP as auditor of the Company effective January 8, 2010. In the opinion of the Company, there have been no "Reportable Events" (as such term is defined in National Instrument 51-102) in connection with the audit of the Company's financial statements reported on by Minni, Clark & Company. Stock Options Granted The Company announces that it has granted an aggregate of 284,500 incentive stock options pursuant to its option plan to directors, officers and consultants. The options are granted as fully vested and exercisable at a price of $0.60 until January 11, 2015. El Creston Property Update Amato conducted a brief orientation sampling and reconnaissance mapping survey at the property in December 2009. The intent of the program was to confirm the location and tenor of the known magnetite mineralization and outline a prospective area for a subsequent phase of detailed geological mapping, lithogeochemical sampling and magnetometer survey work which is scheduled to begin in January 2010. The reconnaissance survey confirmed the presence of semi-massive to massive magnetite mineralization in an area of strong skarn development. A series of grab and chip samples were taken and submitted to ALS Chemex in Hermosillo Mexico for major oxide analysis by XRF fusion method, and for trace element analysis by ICP method. Results are pending and expected shortly. Ken MacDonald, a consultant to Amato, is a Qualified Person and has approved the technical content of this news release. About Amato Exploration Ltd. Amato Exploration Ltd. is a North American mineral exploration company based in Vancouver, B.C., Canada. We are currently focused on exploring for silver and gold deposits in northern Mexico and securing other leading mineral properties in the Americas. The Company's primary asset is its Colosio-Los Letreros Property located in southwestern Chihuahua State, in northern Mexico. DISCLAIMER This news release contains forward-looking statements which reflect management's current expectations regarding the Company's objectives, plans, goals, strategies, future growth, results of operations, performance and business prospects and opportunities. These forward-looking statements are not guarantees, but only predictions. Although the Company believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a number of factors that could cause actual results to vary significantly from current expectations. These factors and other risks and uncertainties are discussed in the Company's materials filed with the Canadian securities regulatory authorities from time to time, as identified in the Company's disclosure record on www.sedar.com. The forward-looking statements included in this news release are made only as of the date of this news release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise, except as required by law. Neither the 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 news release. For more information, please contact: Mr. Melvin R. Reeves, Chief Executive Officer, Amato Exploration Ltd. Tel: 604-315-2559 Investor relations contact: Mr. John Bevilacqua, Acqua Capital Group. Tel: 604-721-3000. For further information, please send enquires to info@acquacapitalgroup.com. THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM. | |
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