AMANTA RESOURCES LTD. CLOSES $2.8MILLION FINANCING
February 28, 2005

Vancouver, BC. Canada – Amanta Resources Ltd. (TSX.V: AMH) is pleased to announce it has completed the sale of 9,333,498 units at a price of $0.30 per unit for gross proceeds of $2,800,049. Jennings Capital Inc. acted as agent in connection with the offering. Each unit consists of one common share and one half of a share purchase warrant. Each whole warrant may be exercised by the holder to acquire an additional common share at a price of $0.45 per share until February 28, 2007.

As compensation for its services as agent, Jennings Capital Inc. and its participating sub-agents received an aggregate commission of $224,004. In addition Jennings Capital Inc. received 746,679 share purchase warrants, with each warrant being exercisable until February 28, 2007 to acquire one additional common share at an exercise price of $0.30 per share. The shares and warrants are subject to hold periods under Canadian securities laws and the policies of the TSX Venture Exchange, and may not be traded in Canada until June 29, 2005 except as permitted under such laws and policies.

The proceeds of this offering will be used to fund acquisition and exploration costs of Amanta’s Langu gold project and Doi Ngom multi-metal mineral project, and for general corporate purposes.

ON BEHALF OF THE BOARD OF
AMANTA RESOURCES LTD.

“Gerald D. Wright”

Gerald D. Wright,
President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release. 

This News Release is not to be disseminated in the United States. These securities have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act or unless an exemption from registration is available.

The information provided in this news release may contain forward looking statements within the meaning of the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. These statements are based on Amanta Resources Ltd.'s current expectations and beliefs and are subject to a number of risks and uncertainties that can cause actual results to differ materially from those described in forward looking statements.