Amarillo Gold Corp. Closes $7.5 Million Financing

Amarillo Gold Corp. (TSX-V: AGC) announces the closing of the private placement announced on April 27th 2007. The Company has issued a total of 6,000,000 shares for proceeds of $7,500,000. The shares will be subject to a hold period that will expire on the 28th of August 2007.  The proceeds will be used to further the exploration and development of the company’s Brazilian gold assets. 

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

Per:  “Buddy Doyle” 
Buddy Doyle, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.