News

September 20, 2006

Amarillo Signs Letter of Intent with Rio Tinto to Acquire Lavras Do Sol Gold Project

Amarillo Gold Corporation's (TSX VENTURE:AGC) ("Amarillo" or the "Company") proposal to obtain up to 100-per-cent interest in the Lavras do Sul Gold Project (the Property) in Brazil, has been accepted by Rio Tinto Desenvolvimentos Minerais Ltda. ("Rio Tinto") after a competitive bid for the property. The project area covers a total of 9,122 hectares and is located in the state of Rio Grande do Sul approximately 350 kilometres by paved road southwest of the capital Porto Alegre.

September 13, 2006

Amarillo Updates Exploration and Drilling, Mara Rosa Project, Goias, Brazil

Amarillo Gold Corp. (TSX VENTURE:AGC) ("Amarillo" or the "Company") is pleased to provide the following exploration update. So far the Company has completed 26 drill holes to date on the Mara Rosa Project. The first 23 holes have focused on enhancing our knowledge of the mineralisation around the South and North Posse deposits. This work discovered previously unknown mineralisation extending to depth beneath North Posse and filled in beneath the South Posse deposit. The drilling has shown the mineralisation to be continuous and consistent. The drilling beneath the North Posse deposit has discovered new mineralisation. Table 1 lists the drill holes completed by Amarillo beneath the south deposit. Those in bold or marked (i) are recent results shown for the first time in this news release. Table 2 lists the drill holes drill beneath the North Posse deposit, again those in bold or marked (i) are new. In total assays from 5 new holes are reported.

June 12, 2006

Amarillo Reports Assay Results from North Posse Deposit; Drill Testing Deeper Extension Confirms More Gold

Amarillo Gold Corp. (TSX VENTURE:AGC) ("Amarillo" or the "Company") is pleased to announce that more assay results have been returned from the Mara Rosa Project in the state of Goias, Brazil, (see table below). Amarillo is currently drill testing the North and South Posse Deposits. These deposits contain a historic resource and occur approximately 500m apart. The drilling is looking for extensions to the mineralisation and in-filling large gaps in the data above 150m level below the surface. The results reported here are from drilling that targeted down dip structural extensions beneath the North Posse pit. Previously Amarillo discovered new mineralisation in structural feeder zones beneath this deposit, adding to the size and knowledge about this mineralisation. This round of results tested for the depth extensions of these zones and were targeted at a level 50m down dip from the discovery holes reported earlier. The results show the gold mineralisation continues at depth and are summarized in the table below.

May 15, 2006

Amarillo Gold Corp.: More Assay Results From South Posse Deposit, Confirming Near Surface Extent of Higher Grade

Amarillo Gold Corp. (TSX VENTURE:AGC) ("Amarillo or the Company") is pleased to announce that more assay results have been returned from the Mara Rosa project in the state of Goias, Brazil, (see table below). Amarillo is currently drill testing the North and South Posse Deposit. These deposits contain an historic resource and occur approximately 500m apart. The drilling is looking for extensions to the mineralisation and in filling large gaps in the data above 150m level below the surface. The results reported here are from drilling that targeted down dip structural extensions beneath the South Posse pit. These results show the zone to be continuous and are considered encouraging.