Amarillo Issues Options to New Brazil-based Exploration Team, Bids Farewell to a Director
Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) now operates two advanced gold exploration projects in Brazil, Mara Rosa and Lavras do Sul, both with drill-proven gold mineralization. The Company recently completed a $7.5 million financing and has been diligently building a team of Brazilian professionals to operate the drilling and surface exploration programs on these two projects.
The options have been awarded to our new employees in Brazil and to an officer of the Company in Canada. In total 285,000 options have been awarded at an exercise price of $1.35 per share.
The new employees will form a team to take over the Mara Rosa project and to augment the team at Lavras do Sul. The team will consist of a project manager, 3 geologists and a GIS expert. The Amarillo Board welcomes the new team and looks forward to the fruits of their efforts.
The Company would also like to say farewell to Martin Walter, a founder of the Company who has been an active and interested director from its inception in 2003. He departs as other mining interests demand more of his time. The Amarillo Board and staff express their sincere thanks to Martin for his time and efforts with the Company, and wish him every success.
ON BEHALF OF THE BOARD OF DIRECTORS
AMARILLO GOLD CORP.
Per: Buddy Doyle, President
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