News

April 29, 2004

Amarillo Gold Corp. San Antonio Gold Property Optioned from Phelps Dodge

Amarillo Gold Corp. (“AGC”) is pleased to announce that it has signed an option with Phelps Dodge Do Brasil Mineração LTDA. (“Phelps Dodge”) on Phelps Dodge’s San Antonio property in the Goias State, Brazil. The property consists of 1931 Ha of exploration permits within which there are gold and copper stream, soil and rock-chip anomalies hosted in carbonates in a promising structural setting 1km by 3km in area. This area was in the past worked by garimpeiros, who left behind shallow trenches and shafts as evidence of their activities. Rock chips from these workings have returned values of up to 22m of 8.80 g/t Au, and 5m of 11.7 g/t with up to 1.23% Cu and 115g/t Ag. The option agreement calls for a US$5000 payment and a minimum of 400m of drilling within 12 months. AGC earns a 50% interest in the property if it completes 1000m of drilling during the first year of the option and expends US$250,000 during the second year of the option. Amarillo can earn a 70% interest by spending US$250,000 on exploration in year three. It will acquire a 100% interest by spending US$250,000 in the fourth and fifth years and presenting a bankable feasibility study by the end of the sixth year. Phelps Dodge then will retain a 2% NSR.

March 29, 2004

Amarillo Gold Corp. arranges a $450,000 Private Placement

Buddy Doyle, President of Amarillo Gold Corp. (the “Company”) announces that it has arranged, subject to regulatory approval, a non-brokered private placement of up to 1,500,000 units at a price of $0.30 per unit, for total proceeds to the Company of $450,000. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant, each whole warrant entitling the holder thereof to purchase one additional common share of the Company for a one year period at a price of $0.50 per share. The proceeds of the private placement will be used for general working capital and to complete purchase of gold exploration properties in Brazil. Finder’s fees or commissions will be payable in accordance with the policies of the TSX Venture Exchange.

February 18, 2004

Private Placement Completed

Amarillo Gold Corp. ( “Amarillo”) is pleased to announce the closing of a private placement announced on November 4, 2003 and amended by news release dated November 12, 2003. The Company has issued 3,300,000 units at a price of $0.10 per unit. Each unit shall consist of one common share without par value in the capital stock of the Company and one non-transferable share purchase warrant, each warrant entitling the holder thereof to purchase an additional common share in the capital stock of the Company for a one year period at a price of $0.20 per share.

February 16, 2004

"Buddy"

Amarillo Gold Corp. (“Amarillo”) is pleased to announce that Buddy Doyle is joining Amarillo as CEO and a Director. Buddy Doyle has 23 years experience in mineral exploration. Most recently he was Exploration Manager/Vice President of Kennecott Canada Exploration Inc. in charge of diamond exploration in North America. Graduating from the Queensland University of Technology in 1981, with a BSc in Applied Geology, Buddy joined the Rio Tinto Group.