News

August 21, 2009

Amarillo Gold Corporation Grants Options

Vancouver, B.C., August 21, 2009 – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), announces the granting of Incentive Stock Options to purchase up to 1,070,000 common shares of Amarillo to directors, officers and consultants.

The exercise price of these options has been set at $0.80 and the options expire 2 years after the date of grant.

July 31, 2009

Amarillo Gold Corporation Closes Financing

Amarillo Gold Corporation (the “Company”) announces the closing of the private placement announced on July 9 and July 20, 2009. The Company has issued a total of 4,327,142 shares at a price of $0.70, for total proceeds of $3,028,999.40. The shares will be subject to a hold period that will expire on November 29, 2009. A finders’ fee was paid on this transaction.

The proceeds from the private placement will be used for the exploration of the Company’s gold projects.

July 20, 2009

Amarillo Increases Non-Brokered Private Placement to $2.975 Million

Vancouver, B.C., - Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) is pleased to announce that, in light of increased demand, it has increased the number of common shares of the Company to be sold in its non-brokered private placement financing from 3,000,000 to 4,250,000, at a price of $0.70 per share, for total proceeds of up to $2.975 million. The transaction remain subject to certain conditions, including but not limited to, the receipt of approval from the TSX Venture Exchange.

All currency references are to Canadian dollars. The proceeds will be directed towards further exploration and definition of our Brazilian gold projects, with a particular focus on continuing the drill testing at Lavras do Sul and comprehensive metallurgical testing to be carried out on the Posse deposit at Mara Rosa.

July 9, 2009

Amarillo Announces Non-Brokered Private Placement For Up To $2.1 million

(TSX-V AGC) ("Amarillo" or the "Company") is pleased to announce is that, subject to regulatory approval, it intends to proceed with a non-brokered private placement financing (the "Private Placement") of up to 3,000,000 units (the "Units") of the Company at a price of $0.70 (seventy cents) per Unit for aggregate proceeds of up to $2.1 million. Each Unit will be comprised of one common share in the capital of the Company. Subject to certain conditions including, but not limited to, the receipt of the approval of the Toronto Stock Exchange.