Amarillo Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 22, 2005) - Amarillo Gold Corp ("Amarillo") (NEX:AGC.H) announces that it has closed a private placement of 724,500 units at a price of $0.20 per unit for proceeds to the Company of $144,900. 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 $0.30 for one year. The shares will be subject to a hold period that will expire on November 14, 2005. There are no finder's fees payable.

The proceeds of the private placement will be used for general working capital.