February 2, 2001

Company Press Release

Amalgamated Explorations, Inc. Analysis Report From The Rock Investment Group, Inc.

DENVER, Feb. 2 /PRNewswire/ -- Amalgamated Explorations, Inc. (OTC: AXPL). Amalgamated Explorations, Inc. reports that the investment analysis firm The Rock Investment Group, Inc. has prepared a report on the company that will soon be distributed.

Amalgamated Explorations, Inc. is a Denver based independent natural gas and oil exploration and production company covering the western United States. Amalgamated also utilizes its proprietary Electrotelluric® technology in its exploration efforts.

Amalgamated Explorations, Inc. is a Denver based oil & gas and mineral exploration company that can currently be found on the OTC pink sheets. Amalgamated has just completed its September 30, 2000 audit financial report and will be filing its SB10 form with the Securities and Exchange Commission to be reinstated to the Nasdaq Bulletin Board. More information is available at www.findoil.com

Forward-Looking Statements

This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any such projections or statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projections.

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