Protocol of Intent signing ceremony with the governor of the State of Goiás on May 25, 2020

State of Goiás formally supports Amarillo’s Posse Gold Project

Amarillo Gold Corporation signed the Protocol of Intent to build the Posse Gold Project with the Government of the State of Goiás in Brazil on Monday, May 25, 2020.

The state governor, Mr. Ronaldo Caiado, organized the ceremony that was held via video conference on May 25, 2020. The over 100 attendees included representatives from the secretariats of Industry, Commerce and Services; Development and Innovation; and Environment and Sustainable Development. Members of the Goiás Economic Development Company, the Mayor of the Municipality of Mara Rosa, and representatives of Amarillo were also in attendance.

The Protocol of Intent establishes the conditions for developing an industrial mining plant and outlines the government’s formal support of the project. It is an important step towards receiving the Installation License, expected in September 2020. The Posse Gold Project is located in the municipality of Mara Rosa, where it is expected to create about 3,500 direct and indirect jobs.

“We’re pleased with how well the Posse Gold Project is progressing,” said Mike Mutchler, Amarillo’s President and Chief Executive Officer. “We’re fortunate that Posse is in a promising region that’s friendly for mining activity. Amarillo strongly believes in the potential of Brazil. I would like to thank all those involved in achieving this important landmark for Amarillo, and the representatives of the state and municipal governments for their trust as we develop this project.”