Amarillo Gold Corp. (TSX VENTURE:AGC) (“Amarillo or the Company”) announces Wayne Acton and Richard Brown have agreed to join Amarillo’s management team. Their additions reflect the Company’s more active status after completing its Reverse Takeover and graduating to Tier II of the Venture Exchange in November 2005.
Wayne Acton C.A., MBA will become the Company’s CFO and Secretary. Mr. Acton brings over 20 years of financial experience to the Company. Mr. Acton’s education credentials include a B. Comm. from Carleton University and an MBA from the University of Toronto in 2001. He obtained his designation as a Chartered Accountant in 1981. His career focus has been restructuring financial service companies, most recently and notably as Senior Vice President of Canada Deposit Insurance Corp. The Board welcomes Mr. Acton as an officer of the Company. In a concurrent move Martin Walter, who previously held the positions of CFO and Secretary has stepped down from each position, but will remain involved with the Company as a nonexecutive director. The board thanks Mr. Walter for his efforts in nurturing the Company and looks forward to his continuing contributions and guidance as a director.
Richard Brown MAusIMM, ASIA joins Amarillo as Chief Operating Officer, Brazil and will become an executive director of the Company. He graduated from Curtin University, Western Australia in 1990 with a BApp.Sc (Geology), and recently completed MBA studies at the Business School, Sao Paulo in Brazil. Mr. Brown has extensive worldwide experience in both mineral and petroleum exploration, and for the last 12 years he has been in South America, establishing local companies and acquiring property portfolios for these entities in Ecuador, Peru, Argentina and Brazil. His extensive network of contacts in the industry and first rate knowledge of the local business culture will bring a competitive edge to the Company’s business in Brazil.
As a result of Amarillo’s focus on Brazil, the Company has opened a modest office in Belo Horizonte, Brazil’s third largest city and considered to be the country’s mining capital. Mr. Brown was responsible for bringing the Mara Rosa project to the Company and will continue to pursue further acquisition opportunities with the objective of growing Amarillo’s shareholder value. Currently he is managing an 11-hole drill program on the Mara Rosa property, three of which were completed prior to the New Year.
The changes on the board and management provide an appropriate time to distribute options. The Company has issued 1 million options with an exercise price of $0.32 expiring in 5 years, these are to be distributed to the directors, officers and employees.