Amarillo Gold Signs a Protocol With The State of Goias and Municipality of Mara Rosa

Amarillo Gold Corp. has received a formal declaration of public support for the development of its Mara Rosa gold project in Brazil.

In a recent public ceremony in Goiania, the state capital, a protocol of intentions was signed between the government of the state of Goias, represented by Governor Marconi Perillo, and Amarillo, represented by director William Brown. Co-signatories to the agreement were the state secretaries of treasury, industry and commerce, environment and water resources, and science and technology; the head of the state power authority (CELG); and the mayor of the municipality of Mara Rosa.

The statement highlights the principal economic parameters of the Mara Rosa project, the advantages to the local community, and outlines how the municipal and state authorities can participate in moving the project forward.

For example, the statement sets out how the governor and state environmental authority will help expedite the permitting process. Elaborating further, it itemizes how the state, the municipality and Amarillo intend to formulate a plan to train staff in skills required for the planned mine, that the state power authority will assist in supplying the required power to the mine and that the State of Goias will guide the company to avail itself of certain tax incentives and possible state debt financing from its various industrial incentive programs and its development bank.

Buddy Doyle, president of Amarillo, said, "It is very encouraging for the company to see such local and state support for our plan to build a gold mine at Mara Rosa using the existing apparatus of the law and the state, and we all look forward to continued harmony and co-operation with the government and people of Mara Rosa and the state of Goias."

ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

          

Per:      “Buddy Doyle”                    

         Buddy Doyle, President


 
Contacts:

 
Amarillo Gold Corp.
+ 1-604-689-1799 (Canada)
+55-31-3261-5974 (Brazil)
info@amarillogold.com

 

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FORWARD LOOKING STATEMENTS:

This news release contains Forward Looking Statements regarding our intentions and plans.   Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Permission from the Government and community is also required to proceed with future mining production. In the case of this news release the timing and response of the MP and SEMARH are not in the companies control and could differ from our expectations causing further delay to our permitting process. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.

 

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