NEW YORK, CALGARY, Alberta, Canada and ZURICH, Switzerland, Oct. 25, 2004 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:
Ernest C. Schlotter, research analyst with Investrend affiliate SISM Research, has initiated coverage of Amera Resources Corporation (TSX Venture Exchange:AMS) with a Speculative Buy/4 rating and a 12-month price target of C$1.
Amera Resources Corporation, based in Vancouver, Canada is a well-managed junior mining exploration company focused on copper-gold porphyry and high sulphidation epithermal gold-silver projects in Argentina and Peru. Amera is well financed and has an option to acquire up to a 75% ownership interest in the 8,009 hectare Mogote Property. Mogote is an early stage exploration project in its portfolio, which offers world-class potential and a pipeline of growth for the future.
Preliminary surface exploration work has lead to the discovery of five significant zones of alteration and mineralization within a 4.0 by 10.0 kilometer area. The next exploration program being planned for the Mogote Project is for November 2004. Several major and junior mining companies have conducted property visits and expressed interest in strategic alliances regarding Mogote.
In addition, Amera has optioned for up to an 80% interest in the Esperanza property in Northern Peru. This property covers a three-kilometer long epithermal system that contains values grading up to 11.42 g/t gold, with significant potential for bulk-tonnage style gold mineralization. Amera commenced a Phase I surface exploration program on the 3,000 hectare Esperanza gold property.
Amera is managed by The Grosso Group, a recognized and dedicated team of leading industry professionals with extensive knowledge in this region. "Argentina's most outstanding geological potential opportunity is that 75 percent of areas with significant mining potential remain unexplored," stated Ernest Schlotter. Despite this fact, Amera is significantly undervalued, based on a peer group comparison. SISM Research has arrived at a fair market value of $1.00 per share, a hefty 85% share appreciation from the current price level of $0.54.
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