News

March 13, 2008

Amarillo’s Posse Deposit Estimated at 643,000 Ounces Indicated, 538,000 Inferred

Vancouver, B.C., March 2, 2008 – Amarillo Gold Corp. (TSX-V: AGC) ("Amarillo" or the "Company"), reports that it is in receipt of its Preliminary Economic Assessment ("PEA") on the Posse deposit at the Company’s Mara Rosa Project in the Goias State, Brazil, as prepared by Caracle Creek International Consultants Inc. (CCIC). Results, estimates and observations contained in the report are briefly discussed here.

December 18, 2007

Amarillo reports on the discovery of a new, near-surface gold zone on the Caneleira prospect, Lavras do Sul, Brazil.

Amarillo Gold Corp. (“Amarillo” or the “Company”), reports on the discovery of a new gold zone on the Caneleira prospect at its Lavras do Sul Project in the state of Rio Grande do Sul, Brazil. The five holes drilled and assayed to date on Caneleira have uncovered broad, low grade gold mineralization spanning almost 400m of strike length. Furthermore, the mineralization on the prospect has been continuously mapped as an alteration zone for 1km and may be apparent as 2.5km linear zone interpreted from the airborne magnetics. Assays are pending for an additional four holes and the drill remains active on the prospect.

December 5, 2007

Amarillo signs property agreements with Crusader on adjoining Mara Rosa exploration permits.

Vancouver, BC Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), has signed a heads of agreement with Crusader Holdings NL (“Crusader”), an ASX listed company, whereby Amarillo has the right to acquire a 70% interest in 4 exploration permits (“alvaras”) totalling 4,560 hectares which are contiguous with the Company’s current Mara Rosa Project holdings.

The terms of the Crusader agreement are: Amarillo can earn a 70% interest by expending US$300,000 on exploration over the next thirty months and making staged cash payments totalling US$50,000 during the earn-in period. Subsequent to the earn-in a 70:30 joint venture agreement will be implemented. In the event that either party elects not to contribute then a standard dilution clause will be applied down to a 10% equity interest at which point it converts to a 1% NSR.

October 30, 2007

Amarillo reports on exploration drilling at its Lavras do Sul project; New, near-surface gold zone discovered at Paredão Norte:

New, near-surface gold zone discovered at Paredão Norte: 12m at 4.54 g/t.

Vancouver, B.C., October 30, 2007 – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), reports on exploration progress at its Lavras do Sul project in the state of Rio Grande do Sul, Brazil. Since work began on this project, 34 drill holes (4428m) have tested various prospects and targets associated with the Lavras granite intrusive complex. Amarillo reported on the first 8 holes, which tested the Cerrito and Butiá prospects, in NR-18-07-07. This news release reports on the drill results of two new prospects, Paredão and Aurora, introduced in NR-22-07-07, and highlights the discovery of a near-surface gold zone at Paredão.