Vancouver, B.C., July 5th, 2008 – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), is pleased to report on gold assay results from the next four holes from its Butiá prospect at its Lavras do Sul project in southern Brazil. Drill holes LDH-127, 128 and 129 are the first 3 of 6 drill holes from the next step-out cross section, 50 metres to the west of the drill results reported in our May 14th news release. The drill holes are collared 50 metres apart along this section and drilled at an azimuth of 10° and at a dip of -60°. LDH-126 is the last hole drilled along the section that was reported on May 14th.

Highlighted is drill hole LDH-128 which ran 120 metres at 3.52 g/t from 87 metres and includes 57 metres at 6.95 g/t from 123 metres. Drill hole LDH-127 ran 58 metres at 0.93g/t. Details of gold assay results for drill holes LDH-126 through to LDH-129 are summarized in table 1 below.

As drilling progresses the Company’s geologists are refining their understanding of the deposit. In the May 14th news release the Company reported that a syenite zone seemed to be controlling the better gold grades. Petrographic studies, commissioned by the Company, now suggest this “episyenite” is an alteration product, the result of intense alkaline alteration of the perthitic granite host rock such that most of the quartz is removed, leaving feldspathic microbreccia. The company is describing this alteration as Intense Alkali Metasomatism. Later, as these fluids dissolved more and more quartz, they became oversaturated and began re-depositing silica as comb textured quartz veins with abundant fluid inclusions. These textures suggest a low temperature epithermal environment. There is much left to understand; for example, at what stage in the fluid evolution does the gold mineralization occur? It appears the higher grades occur with quartz saturation and sulphide generation, but there may be multiple events and some intense alteration zones have better gold grades than others.

These results show the higher grade zone at Butiá continuing through three sections. The section principally reported on here, BU-05, is the westernmost section drilled to date, and is located in close proximity to the edge of the intrusive. As a result, it was thought that this would be the last section worked in this direction. However, the encouraging results from BU-05 mandate another section be drilled, if only to close the higher grade zones off. To the east, section BUT-02 was tested in the mid-80’s by a former operator with a single drill hole. However, this hole was fairly shallow, drilled to the south and would have missed the projection of the higher grade zones. This area is being tested now and the core is revealing similar rocks as those that carried in the drill intersections reported below.

The drilling at the Butiá deposit had been designed to provide adequate information to commission an independent 43-101 resource assessment of this prospect prior to year end. The recent success on the prospect, however, has resulted in more work than originally planned. The Company now has one rig on the prospect and a second is expected shortly.

Table 1: Assay results from Butiá 2nd round of step-out drilling
From (m) To (m) Width (m) Grade Au (g/t)

	From (m)	To (m)	Width (m)	Grade Au (g/t)
LDH-126	139.5	246	106.5	0.53
LDH-127	34	50	16.0	2.16
including	34	35	1.0	30.00
	61	88	27.0	0.41
	104	162	58.0	0.93
LDH-128	17.5	30	12.5	1.57
including	26	27	1.0	8.49
	50	71	21.0	2.19
including	52	55	3.0	11.43
	87	207	120.0	3.52
including	123	180	57.0	6.94
LDH-129		NSA

Notes: All drill hole samples shown here consist of split HTW diamond drill core. The samples were sent to Acme Laboratories in Goiania, Brazil, and Vancouver, Canada. Gold is determined using fire assay using 50g aliquots with an ICP finish; if the grade is higher than 10 ppm a gravimetric method is used. All samples are subject to a chain of custody and are submitted with standards and blanks to check the assay results. The laboratories also use internal standards and repeat analysis. For the results reported in this release all the standards, blanks and repeats delivered acceptable results. Intercepts were calculated using a minimum of a 0.3 g/t cut off at the beginning and end of the intercept and allowing for no more than 10 consecutive metres of less than 0.3 g/t Au.. There were 34 gold assays > 5 g/t Au in the reported assays for LDH -128, and these are being repeated by Screen Fire Assay. While this technique may give different results for particular samples, our experience is that the overall intersections will remain little changed.

Please also note that the interval 172.0m to 180.0m in LDH128 contained 2 very high gold assays of 48.9 and 126.0 g/t Au respectively.

The Lavras granite complex hosts numerous areas of historic diggings and small mine workings that were the subject of sporadic gold rushes from the 1870’s through to the 1930’s. Gold mineralization had been drill confirmed in the 1980’s at Cerrito and Butiá, where it was found to be hosted in structurally controlled alteration zones with sericite and pyrite, +/- sheeted quartz veins. None of the other areas of workings and alteration, (which number greater than 12), have ever been drill tested prior to Amarillo optioning the project in 2006. Amarillo’s strategy has been to systematically surface map these areas and follow-up, where warranted, with a drill program.

Amarillo Gold Corp. is a company focused on the acquisition, definition and discovery of gold resources in Brazil. Its principal projects are the Mara Rosa project in the state of Goiás and the Lavras do Sul project in the State of Rio Grande do Sul. The Posse Deposit at Mara Rosa was found by an independent 43-101 compliant preliminary economic assessment study carried out by CCIC to contain 643,000 ounces indicated @ 1.48 g/t Au and 538,000 ounces inferred @ 1.26 g/t Au. The Company also has a portfolio of earlier stage projects. All properties under Amarillo’s management are located in areas of good infrastructure and robust community support.

The Qualified Person for this news release is Buddy Doyle as per the guidelines laid out in the NI 43-101.

This news release contains Forward Looking Statements regarding our intentions and plans. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.

ON BEHALF OF THE BOARD OF DIRECTORS AMARILLO GOLD CORP.

Buddy Doyle, President

Vancouver, B.C., July 5th, 2008 – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), is pleased to report on gold assay results from the next four holes from its Butiá prospect at its Lavras do Sul project in southern Brazil. Drill holes LDH-127, 128 and 129 are the first 3 of 6 drill holes from the next step-out cross section, 50 metres to the west of the drill results reported in our May 14th news release. The drill holes are collared 50 metres apart along this section and drilled at an azimuth of 10° and at a dip of -60°. LDH-126 is the last hole drilled along the section that was reported on May 14th.

Highlighted is drill hole LDH-128 which ran 120 metres at 3.52 g/t from 87 metres and includes 57 metres at 6.95 g/t from 123 metres.  Drill hole LDH-127 ran 58 metres at 0.93g/t.  Details of gold assay results for drill holes LDH-126 through to LDH-129 are summarized in table 1 below.

As drilling progresses the Company’s geologists are refining their understanding of the deposit. In the May 14th news release the Company reported that a syenite zone seemed to be controlling the better gold grades. Petrographic studies, commissioned by the Company, now suggest this “episyenite” is an alteration product, the result of intense alkaline alteration of the perthitic granite host rock such that most of the quartz is removed, leaving feldspathic microbreccia. The company is describing this alteration as Intense Alkali Metasomatism. Later, as these fluids dissolved more and more quartz, they became oversaturated and began re-depositing silica as comb textured quartz veins with abundant fluid inclusions. These textures suggest a low temperature epithermal environment. There is much left to understand; for example, at what stage in the fluid evolution does the gold mineralization occur?  It appears the higher grades occur with quartz saturation and sulphide generation, but there may be multiple events and some intense alteration zones have better gold grades than others.

These results show the higher grade zone at Butiá continuing through three sections.  The section principally reported on here, BU-05, is the westernmost section drilled to date, and is located in close proximity to the edge of the intrusive.  As a result, it was thought that this would be the last section worked in this direction.  However, the encouraging results from BU-05 mandate another section be drilled, if only to close the higher grade zones off.  To the east, section BUT-02 was tested in the mid-80’s by a former operator with a single drill hole.  However, this hole was fairly shallow, drilled to the south and would have missed the projection of the higher grade zones.  This area is being tested now and the core is revealing similar rocks as those that carried in the drill intersections reported below.

The drilling at the Butiá deposit had been designed to provide adequate information to commission an independent 43-101 resource assessment of this prospect prior to year end.  The recent success on the prospect, however, has resulted in more work than originally planned.  The Company now has one rig on the prospect and a second is expected shortly.

Table 1: Assay results from Butiá 2nd round of step-out drilling

	From (m)	To (m)	Width (m)	Grade Au (g/t)
LDH-126	139.5	246	106.5	0.53
LDH-127	34	50	16.0	2.16
including	34	35	1.0	30.00
	61	88	27.0	0.41
	104	162	58.0	0.93
LDH-128	17.5	30	12.5	1.57
including	26	27	1.0	8.49
	50	71	21.0	2.19
including	52	55	3.0	11.43
	87	207	120.0	3.52
including	123	180	57.0	6.94
	219	224	5.0	0.59
LDH-129	34.5	39	4.5	0.40
and	80	86	6.0	0.3

Notes:  All drill hole samples shown here consist of split HTW diamond drill core.  The samples were sent to Acme Laboratories in Goiania, Brazil, and Vancouver, Canada. Gold is determined using fire assay using 50g aliquots with an ICP finish; if the grade is higher than 10 ppm a gravimetric method is used.  All samples are subject to a chain of custody and are submitted with standards and blanks to check the assay results. The laboratories also use internal standards and repeat analysis. For the results reported in this release all the standards, blanks and repeats delivered acceptable results. Intercepts were calculated using a minimum of a 0.3 g/t cut off at the  beginning and end of the intercept and allowing for no more than 10 consecutive metres of less than 0.3 g/t Au..  There were 34 gold assays > 5 g/t Au in the reported assays for LDH -128, and these are being repeated by Screen Fire Assay. While this technique may give different results for particular samples, our experience is that the overall intersections will remain little changed.

Please also note that the interval 172.0m to 180.0m in LDH128 contained 2 very high gold assays of 48.9 and 126.0 g/t Au respectively.

An updated map of the prospect and drill hole locations can be found
either at the end of this release or click here to download a copy.

Updated sections can be found, likewise, either below or at:

• Section 04
• Section 05

The Lavras granite complex hosts numerous areas of historic diggings and small mine workings that were the subject of sporadic gold rushes from the  1870’s through to the 1930’s. Gold mineralization had been drill confirmed in the 1980’s at Cerrito and Butiá, where it was found to be hosted in structurally controlled alteration zones with sericite and pyrite, +/- sheeted quartz veins. None of the other areas of workings and alteration, (which number greater than 12), have ever been drill tested prior to Amarillo optioning the project in 2006.  Amarillo’s strategy has been to systematically surface map these areas and follow-up, where warranted, with a drill program.

Amarillo Gold Corp. is a company focused on the acquisition, definition and discovery of gold resources in Brazil. Its principal projects are the Mara Rosa project in the state of Goiás and the Lavras do Sul project in the State of Rio Grande do Sul. The Posse Deposit at Mara Rosa was found by an independent 43-101 compliant preliminary economic assessment study carried out by CCIC to contain 643,000 ounces indicated @ 1.48 g/t Au and 538,000 ounces inferred @ 1.26 g/t Au. The Company also has a portfolio of earlier stage projects. All properties under Amarillo’s management are located in areas of good infrastructure and robust community support.

The Qualified Person for this news release is Buddy Doyle as per the guidelines laid out in the NI 43-101.

This news release contains Forward Looking Statements regarding our intentions and plans. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

Buddy Doyle, President

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

Click here to read about Amarillo Gold Corp., Northern Miner, May 26-June 1, 2008 publication.

Vancouver, B.C., May 23, 2008- Amarillo Gold Corp. (TSX-V AGC) (“Amarillo” or the “Company”) has signed a Heads of Agreement with IAMGOLD Corporation (TSX:IMG and NYSE:IAG) (“IAMGOLD” ), whereby Amarillo has the right to acquire a 70-per-cent interest in eight licence areas which have a cumulative net area of approximate 7,000 hectares (the “Property”) and which are contiguous with the Company's current Lavras do Sul project (19,000 hectares) in the southern Brazil state of Rio Grande do Sul.

The terms of the agreement are:
Amarillo can earn a 51-per-cent interest by expending $800,000 (U.S.) on exploration over 3 years which will include a minimum of 2,000 metres drilling and of which $200,000 (U.S.) must be spent within the first 12 month period. In the event that IAMGOLD elects not to contribute pro-rata funding after the first earn-in period then Amarillo may earn a further 29% interest (for a total of 80%) by funding any mineral resource discovered on the Property through to feasibility study.

At the completion of a feasibility study on the Property, and up to a period of 60 days from this date, IAMGOLD may either
• elect to contribute its pro-rata share to future funding OR
• dilute its interest to a 2.0% Net Smelter Royalty (NSR), of which 1.0% may be bought back by Amarillo for US$1,000,000 at any time up to the commencement of production OR
• exercise a one-time back-in right to increase its participating interest to 60% - if Amarillo has established a total mineral reserve in excess of 2.5 million ounces of gold on the Property – and become operator by paying three times Amarillo’s exploration costs up to the date of IAMGOLD exercising its back-in right.

Buddy Doyle, President and CEO of Amarillo, commented: "This agreement is a big step forward for Amarillo’s exploration program at its Lavras do Sul gold project. Amarillo now has the control of 26,000 hectares of mineral exploration rights, representing the vast majority of the Lavras intrusion, and therefore has the freedom to systematically follow-up a number of additional gold showings and leads occurring throughout this prospective district.”
An updated tenement map over the Lavras intrusive will be posted in the near future on the Company’s website.

Amarillo Gold Corp. is a company focused on the acquisition, definition and discovery of gold resources in Brazil. Its principal projects are the Mara Rosa project in the state of Goiás, and the Lavras do Sul project in the state of Rio Grande do Sul. An independent 43-101 compliant preliminary economic assessment (“PEA”), dated February 28, 2008, made a resource estimate on the Posse deposit at Mara Rosa. The PEA placed 13.5 million tonnes @ 1.48 g/t Au (643,000 ounces) in the indicated category and 23.0 million tonnes @ 1.26 g/t Au (538,000 ounces) in the inferred category. The PEA was authored by Ian Kelso of CCIC, Sudbury, Ontario and may be found on SEDAR or downloaded from the Company’s website. The Company also has a portfolio of earlier stage projects. All properties under Amarillo’s management are located in areas of good infrastructure and robust community support. Current share issue equals 40,583,133.

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

Per: "Buddy Doyle"

Buddy Doyle, President

Vancouver, B.C., May 14, 2008 – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), is pleased to report on gold assay results from the first 4 holes of a 5 hole step-out section being drilled on its Butiá prospect at its Lavras do Sul project in southern Brazil. Extensive intersections of higher grade gold mineralization were reported in all holes.

Highlights include:

• Drill hole LDH-122 included 206 metres averaging 2.16 grams per tonne (g/t) Au from 73 metres and 29 metres @ 4.92 g/t Au from 107m.
• Drill hole LDH-123 intersected 227 metres averaging 1.84 g/t Au from 80 to 307 metres, including 22 metres @ 8.26 g/t Au from 147m.
• Drill hole LDH-124 intersected 26.5 metres averaging 2.50 g/t Au from 36.5 to 63 metres.
• Drill hole LDH-125 intersected 54 metres averaging 1.36 g/t Au from 37 to 91 metres.

The comprehensive gold assay results for drill holes LDH-122 through to LDH-125 are summarized using a 0.3g/t cutoff grade in table 1 below. A further 3,000 metres of drilling is projected for the current program with the two objectives of defining the extent of mineralization of the Butiá deposit and to acquire enough data to commission an independent 43-101 resource assessment of this prospect.

The above four drill holes were drilled on-section, collared approximately 50m apart, and were completed in the centre of a partly outcropping syenite zone. This syenite had been specifically targeted by the Company’s geologists as a favourable host for higher grade gold mineralization and it appears, based on these results, that they have found the key to higher grades at Butía. Although this prospect had been drilled previously in the 1980’s, these older holes were drilled over the top of the higher grade gold zone reported on here.

All holes, save for LDH-122, were drilled at an azimuth of 10° (LDH-122 was drilled at 4°) and at a dip of -60°. A map of the prospect and drill hole locations can be found either at the end of this release or at: http://www.amarillogold.com/sites/amarillogold.com/files/ButiaMap_May08.jpg.

A section can be found, likewise, either below or at: http://www.amarillogold.com/sites/amarillogold.com/files/ButiaSection_May08.jpg.

These higher grade intercepts appear to be hosted by an altered nepheline-syenite late stage intrusive to the surrounding perthitic granite, and although the granite is mineralized it is theorized that the silica under-saturated nature of the syenite acted as a better chemical/compositional trap to the mineralizing fluids. Current drilling at Butiá is along the next section to the west and these holes also appear to intersected the same mineralized host. The syenite is open to the east, west and at depth. Other syenites have been mapped on the project and more attention will be paid to these occurrences in the future.

Table 1: Assay results from Butiá step-out drilling

	From (m)	To (m)	Width (m)	Grade Au (g/t)
LDH-122	5.5	34	28.5	0.40
and	47.0	278.9	231.9	1.95
including	73.0	278.9	205.9	2.16
including	107.0	136.0	29.0	4.92
including	206.0	244.0	38.0	2.91
including	263.0	271.0	8.0	6.17
LDH-123	43.0	62.0	19.0	1.03
and	80.0	307.0	227.0	1.84
including	147.0	169.0	22.0	8.26
including	214.0	223.0	9.0	4.72
LDH-124	36.5	76.0	39.5	1.75
including	36.5	63.0	26.5	2.50
	111	226	115.0	0.76
LDH-125	37	91	54.0	1.36
Including	80	86.5	6.5	4.69

Notes: All drill hole samples shown here consist of split HTW diamond drill core. The samples were sent to Acme Laboratories in Goiania, Brazil, and Vancouver, Canada. Gold is determined using fire assay using 50g aliquots with an ICP finish; if the grade is higher than 10 ppm a gravimetric method is used. All samples are subject to a chain of custody and are submitted with standards and blanks to check the assay results. The laboratories also use internal standards and repeat analysis. For the results reported in this release all the standards, blanks and repeats delivered acceptable results. To determine the reported intercepts, a 0.3g/t cut-off was employed with the constraint that no sub cut-off grade interval exceed 10m in length. There were 24 gold assays > 5 g/t Au in the reported assays for LDH-122 and LDH-123, and these are being repeated by Screen Fire Assay. While this technique may give substantially different results for particular samples, our experience is that the overall intersections will remain little changed.

Amarillo Chief Executive Officer Buddy Doyle commented: "We are obviously pleased with this latest round of drill results. It is the first time that potential bulk tonnage intervals on the order of 2 grams per tonne of gold have been drilled at Lavras. By happy coincidence, Amarillo has recently completed its 10,000th metre of drilling on the property, and I would like to congratulate our technical team on the ground, whose persistent and enthusiastic application of best exploration practices appears to be unlocking the gold mineralization potential within the Lavras intrusion.”

The Lavras granite complex hosts numerous areas of historic diggings and small mine workings that were the subject of gold rushes in the 1880’s and 1930’s. Gold mineralization had been drill confirmed in the 1980’s at Cerrito and Butiá, where it was found to be hosted in structurally controlled alteration zones with sericite and pyrite, +/- sheeted quartz veins. None of the other areas of workings and alteration, (which number greater than 12), have ever been drill tested prior to Amarillo optioning the project in 2006. Amarillo’s strategy has been to systematically surface map these areas and follow-up, where warranted, with a drill program.

Amarillo Gold Corp. is a company focused on the acquisition, definition and discovery of gold resources in Brazil. Its principal projects are the Mara Rosa project in the state of Goiás and the Lavras do Sul project in the State of Rio Grande do Sul. The Posse Deposit at Mara Rosa was found by an independent 43-101 compliant preliminary economic assessment study carried out by CCIC to contain 1.18 million ounces (643,000 ounces indicated @ 1.48 g/t Au, 538,000 ounces inferred @ 1.26 g/t Au). The Company also has a portfolio of earlier stage projects. All properties under Amarillo’s management are located in areas of good infrastructure and robust
community support.

The Qualified Person for this news release is Buddy Doyle as per the guidelines laid out in the NI 43-101.

This news release contains Forward Looking Statements regarding our intentions and plans. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.

Images

 

ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORP.

Buddy Doyle, President

Vancouver, B.C., April 9, 2008, – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) has commenced exploration drilling on its Mara Rosa project in Goias state, Brazil. The drill will initially target two prospects developed over 2007. One is called Lambari the other is named Grid A.

The Lambari prospect lies 3km to the east of the Posse Deposit. Interest in the area was first derived from anomalous gold results (700 ppb Au) in BLEG (bulk leach extractable gold) sampling in the streams and from the occurrence of several garimpo’s that were worked up to the early 1990’s. Subsequently the company has completed geological mapping and took 2,200 soil samples covering a grid of 20 sq. km. This work highlighted four linear trends 50 to 150m wide up to 1.5km long of anomalous gold in the soils. Five trenches where completed in to the soil anomalies and cumulatively they measured 1.4 kilometers long. Thirty-six auger holes where completed near the João Lemos garimpo. The trenching revealed grab values of up to 7.0 g/t with channel samples carrying 12m of 0.78 g/t Au with 3.3m of 2.2 g/t Au hosted in a quartz sericite schist with qtz veins stringers. The quartz sercite schists are part of a metavolcanic, sedimentary package that dips steeply (55 degrees to 80 degrees) to the west, striking ENE. The drilling will test for down dip mineralization beneath these trenches and soil anomalies.

The Grid A prospect lies 5km South of Posse and was recognized by previous workers in the area but has never been adequately tested. The area is noticeable as an anomaly in the K-channel airborne radiomertics, and is produced by very mica rich quartz sericite chlorite schists. These schists have veinlets containing fuchsite (high chrome vanadium mica) and have elevated copper and gold in the soil. They dip to the west at a relatively shallow 15 to 30 degrees with a hanging wall of fine grained diorite and schists and a foot wall of amphibolites and schist. This signature not dissimilar to the setting at the Posse deposit, with the added interest that the entire volcano sedimentary package changes strike from ENE to NE on a hinge beneath grid A. The exploration model is that this is a splay off of the thrust fault that hosts Posse and that the structural setting is favorable. The company has taken 600 termite mound samples, covering 2.5 sq km, 160 soil samples covering 1 sq km, completed 8 trenched totaling 1.85 kilometres from which 2535 channel samples where taken. A total of 36 auger holes where also completed. From the trenches results such as 66m of 0.21 g/t gold, 19m of 0.4g/t gold, 0.5m @ 1.71 g/t gold and 2m @ 0.59 g/t have been returned. The drilling is designed to test the down dip extension of the values in the trenches.

Both the Lambari and Grid A prospects lie near the edge of the exhumed (by erosion) paleo-laterite surface at Mara Rosa and have deep saprolite profiles. (saprolite is a leached tropical soil). The drilling will test the fresh rock beneath this weathered horizon. Each prospect will receive four test holes, from which the results will be awaited before proceeding with further testing.

After this first round of exploration drilling the drill will be moved to the Posse Deposit to begin delineation drilling and exploration drilling for nearby extensions to this deposit.

Amarillo Gold land package in the Mara Rosa district consists of over 60,000 hectares of exploration permits and 3 mining concessions over the Posse pits and infrastructure areas from the previous mining operation. The Posse Deposit was found by an independent 43-101 compliant preliminary economic assessment study carried out by CCIC to contain an indicated resource of 643,000 ounces @ 1.48 g/t Au plus an inferred resource of 538,000 ounces @ 1.26 g/t Au.

This news release was compiled by Buddy Doyle, who is the Qualified Person as defined by NI 43-101 and contains Forward Looking Statements regarding our intentions and plans. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

Per: “Buddy Doyle”

Buddy Doyle, President

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

Lavras do Sul, Brazil. Known mineralization
expanded, definition drilling continues.

 

Vancouver, B.C., March 25, 2008 – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) has had a drill dedicated to exploration at its Cerrito prospect since August 2007. The Cerrito prospect is the most developed of the four known gold mineralized prospects at the Lavras do Sul project, situated in the state of Rio Grande do Sul. A total of 24 drill holes have been completed at Cerrito for a cumulative total of 2,439 metres. Assays have been returned for the first 16 of these holes. Assays for the first five holes, LDH-04 through 08, have been reported previously, but are restated here for reference. The results for drill holes 4 and 5 are re-assays, after the standards submitted in the original batch were determined to be non-compliant. The assays for all the other holes are new.

The drilling to date has revealed three zones of gold mineralization on the prospect. The central zone strikes for about 400m and is up to 50m wide. The other zones are less well defined and require more drilling. The locations of the drill holes and intercepts are depicted on our website and can be found by following this link: http://www.amarillogold.com/sites/amarillogold.com/files/CERRITO_A4_WEB-...

The style of mineralization at Cerrito is typical of the Lavras do Sul project, where we have found other separate areas of gold mineralization at the Butiá, Paredão and Caneleira prospects. They are all hosted in zones of alteration within the 100 sq. kilometre Lavras do Sul granite intrusive complex. The alteration is dominated by sericite, hematite and minor chlorite. The gold mineralization occurs hosted with the broader alteration in structurally control zones. Occasional silica and quartz veining hosts higher grade (>10 g/t Au) gold values.

In detail each prospect has its own recognizably different character dependent in part on the host rock type which varies from syenite, syenogranite to granodiorite. The silver to gold ratio and the presence of pathfinder elements like arsenic vary among the prospects. There are numerous other areas of alteration and old diggings which have yet to be mapped and drill tested.

Table 1: Summary of Drill results to Date :- Cerrito Prospect

 

Hole No.	Total Depth (m)	Azimuth /Dip	Zone	From (m)	To (m)	Distance (m)	Grade (g/t Au)
LDH-04	168.05	10° / -60°	Centre	2.05	126	123.95	0.90
			incl.	2.05	6.65	4.6	1.48
			incl.	20	38	18	1.17
			incl.	64	73	9	1.69
			incl.	86	100	14	1.34
			incl.	111	116	5	2.66
LDH-05	148.65	10° / -60°	West	0	54	54	0.67
			incl.	23	52	29	0.95
LDH-06	135.95	10° / -60°	West	0	92	92	0.31
			incl.	80	92	12	0.62
LDH-07	134.35	10° / -60°	West	5.9	91	85.1	0.35
			incl.	15	26	11	0.87
LDH-08	155.95	20° / -60°	West	0	122.5	122.5	0.35
			incl.	0	12.5	12.5	0.45
			and	92	107	15	1.22
LDH-09	113.30	60° / -60°	West	No significant intersections
LDH-10	134.65	30° / -60°	West	No significant intersections
LDH-17	120.25	30° / -60°	West	0	25.5	25.5	1.02
LDH-18	120.15	340° / -60°	Centre	19