Vancouver, B.C., May 29, 2008– Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”), announces that Mr. Wayne Acton has stepped down as Chief Financial officer of the Company, Mr. Acton states his relocation to Costa Rica as amongst the reasons for his departure. The Company would like to take the opportunity to thank Mr. Acton for his contributions throughout his 3 years of service, and to wish him all the best in his future endeavors. Further to Mr. Acton’s resignation, The board of directors is also very pleased to announce that Waldemar Opalka will be assuming the role of Chief Financial Officer.
Mr. Opalka is a former Director of Strategy and Corporate Development at Netia S.A., Poland’s leading alternative telecommunications operator. Additionally, he has served as President of two of Netia’s operating subsidiaries. Mr. Opalka is also founder and Managing Director of Polish Broadband LLC, a telecommunications company, which, through a subsidiary, is a leading satellite and wireless data communications provider in Poland. He is also Treasurer and co-founder of Northern Lights Investors LLC, a private investment company with principal and agency business in Poland. Since April 1994 Mr. Opalka has been involved in private investment activities, initially based in Boston now in Warsaw, Poland. Prior to 1994, Mr. Opalka held corporate tax posititions in government and industry. Mr. Opalka earned a BA in Quantitative Economics at Tufts University and an MBA at the University of Massachusetts.
Mr. Opalka is currently a director of Amarillo and is therefore very familiar with the workings of the Company.
Amarillo Gold Corp. is a company focused on the acquisition, definition and discovery of gold resources in Brazil. Its principal projects are the Mara Rosa project in the state of Goiás and the Lavras do Sul project in the state of Rio Grande do Sul. The Posse deposit at Mara Rosa was found by an independent 43-101 compliant preliminary economic assessment study carried out by CCIC to contain a 13.5M tonnes indicated resource @ 1.48 g/t Au (643,000 ounces) and a 13M tonnes inferred resource @ 1.26 g/t Au (538,000 ounces) . The Company also has a portfolio of earlier stage projects. All properties under Amarillo’s management are located in areas of good infrastructure and robust community support.
ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORPORATION