Amarillo Closes Private Placement

Amarillo Gold Corp (TSX VENTURE:AGC.H) ("Amarillo") announces that it has closed a private placement of 1,025,000 units at a price of $0.20 per unit for proceeds to the Company of $205,000. Each unit consists of one common share and one non-transferable share purchase warrant entitling the holder to purchase an additional common share at a price of $0.25 for one year. The shares will be subject to a hold period that will expire on July 3, 2005.