Amarillo Gold Corp. Releases Independent Mineral Resource Estimate for the Mara Rosa Project, Goias, Brazil

Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) is pleased to announce the results of an Independent Mineral Resource Estimate for its 100% owned Mara Rosa project, located 350 km north of the national capital of Brasilia, Brazil.  The Mara Rosa Project is a greenstone belt shear hosted meso-thermal gold mineralised sytem located near the village of Mara Rosa in the State of Goias.The Independent Mineral Resource Estimate was prepared by Caracle Creek International Consulting Inc. (CCIC) based in Sudbury, Ontario.

The Inferred Mineral Resource, quoted below, was calculated using 0.5 and 1.0 g Au/t block cut-offs and by capping gold grades at 30 g Au/t.  The Estimate extends a maximum of 380 metres below surface; however, approximately 70% of tonnage lies within 200 metres of surface.

Inferred Mineral Resource Estimate

0.5 g Au/t cut-off
Tonnes   Au (g/t)   Contained ounces Au
22,468,000   1.35   974,000

1.0 g Au/t cut-off
Tonnes   Au (g/t)   Contained ounces Au
13,208,000   1.80   764,000

The estimate was generated using a data base of 194 historic drill holes and 28 drill holes completed by Amarillo in 2006.

The above Inferred Mineral Resource Estimates was calculated using ordinary Kriging methods and conforms to the National Instrument 43-101 Standards of Disclosure for Mineral Projects.  The Mineral Resource Estimate reported herein is not a mineral reserve and, as such, does not demonstrate economic viability.

The above Mineral Resource Estimate was prepared by Qualified Person, Iain Kelso, P.Geo..  Details of the Estimate are contained in a report produced in accordance with the guidelines set out in National Instrument 43-101, companion policy NI43-101CP and Form 43-101F1.  A copy of the report will be filed on SEDAR within 45 days.

The management at Amarillo is pleased with the resource estimate, which will now form the foundation to further progress the Mara Rosa project.

ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORP.

Per:  Buddy Doyle, President

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