News

Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), is pleased to announce that Karen Mate of Capital Markets Advisory CA (“CMA”) has joined the Company as a consultant to broaden the awareness of Amarillo’s investment case throughout the retail and institutional market on a global basis. In connection with this appointment, the company has granted CMA 15,000 stock options with an exercise price of $0.33, exercisable for a period of 3 years.

Prior to joining Amarillo, Ms. Mate has had over 25 years of extensive capital markets experience in her role as a Director of Institutional Sales for leading Broker Dealers, with a focus on marketing and financing publicly listed mining companies.

“Karen is a valued addition to our team as we advance the Mara Rosa Project,” stated Rolly Uloth, Executive Chairman of Amarillo. “Her knowledge and experience combined with her extensive contacts within the mining investment field will serve Amarillo well as we aim to expand our exposure with the Canadian and international investment community.”

About Amarillo: Amarillo is developing a highly economic, open pit gold resource at its Mara Rosa Project in Goias State, Brazil. In addition, Amarillo has an advanced exploration project at Lavras do Sul in the South of Brazil. Both projects have excellent infrastructure in mining friendly jurisdictions. The Mara Rosa Project is fortunate to have received its “Preliminary License”, the main permit that gives social and environmental permission to mine. The Company is currently focused on advancing the Mara Rosa Project to begin construction in 2018. For more detail please refer to our website at: www.amarillogold.com or contact us at: info@amarillogold.com

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Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), announces that 2,779,500 warrants have been exercised at the price of 25c bringing proceeds of $CND 694,875 to treasury.

Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo”) is pleased to announce the appointment of Rolly Uloth to the Board of Amarillo as the Executive Chairman.

Mr. Rolly Uloth is a seasoned mining executive with almost 20 years experience in various positons at Wesdome Gold Mines and its predecessor companies.

Mr. Uloth joined River Gold Mines in 1998 as a Director and in 2001 he became President and Director of River Gold Mines. In 2006, on completion of the merger between Wesdome and Eagle River Mines, Mr. Uloth became Chairman of the combined companies. During this time, the company enjoyed some of its most profitable years. He resigned as President and Director of Wesdome in 2009. In August 2013, at the request of a major shareholder of Wesdome, Mr. Uloth rejoined the company as President and CEO and held this position until last year. Mr. Uloth remains on the Wesdome board as a Director of the company.

Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), is pleased to announce that it has filed the updated Pre-feasibility (“PFS” or “Study”) report for the Posse gold deposit within its 100% owned Mara Rosa project (the “Project”), Goias, Brazil on SEDAR.

Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) is pleased to announce the results of an updated Pre-feasibility Study (“PFS” or “Study”) in accordance with National Instrument 43-101 (“NI 43-101”) on the Posse gold deposit within its 100% owned Mara Rosa project located in the state of Goias, central Brazil. Two open cut mining scenarios were investigated in the updated PFS, one where the mining equipment is owner operated, the other where the mining is carried out by contractors. The contract mining scenario was selected as our main base case, primarily due to a significantly lower initial CAPEX and a higher internal rate of return (IRR). A gold price of US$1,200 per troy ounce and a USD/BRL exchange rate of 3.20 were applied in the base case economic model, all currencies are quoted in US dollars unless otherwise specified.