10:44 AM EST - Amseco Exploration Ltd. : announces that it is abandoning its purchase option for the Souart property currently owned by Glen Eagle Resources Inc. The original option agreement was signed in April 2009 and amended at the end of July of the same year and after signing these agreements the company said it filed a "Notice of Material Change" with the regulatory authorities. Amseco not having respected all the Option conditions towards Glen Eagle it was in default to the agreement and could lose the property. To date Amseco had paid $75,000 to Glen Eagle but had not issued the shares as per the terms of the agreement neither had it started any work on the property. Amseco Exploration Ltd.
shares V.AEL are trading even at $0.11.
