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. 

ON BEHALF OF THE BOARD OF DIRECTORS OF
AMARILLO GOLD CORPORATION

Per: 

                   
BUDDY DOYLE, CEO

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