Vancouver, B.C., – Amarillo Gold Corp. (TSX-V: AGC) (“Amarillo” or the “Company”) is pleased to announce that Mr. Todd Bruce has joined the Board of Directors of Amarillo Gold. Mr. Bruce is well known in the mining and financial communities and the Board of Amarillo looks forward to benefiting from his guidance and knowledge. Mr. Bruce has held senior management and Board positions with Anglo Platinum, IAMGold Corporation and Crystallex. He brings extensive operational and development experience, and will strengthen and broaden Amarillo’s collective board expertise.
From September 2003 to January 2007, Mr. Bruce served as CEO, President and Director of Crystallex International Corporation, Highlights of his tenure included completion of a bankable feasibility study on, and securing an EPCM contract with SNC Lavalin for the Las Cristinas project, financings that raised nearly C$250 million and two drill programs that increased gold reserves at Las Cristinas from approximately 10 million ounces to 17 million ounces.
From February 1996 to January 2003, Mr. Bruce served as President and Chief Operating Officer of IAMGOLD Corporation, whose principal assets during his tenure comprised the Sadiola and Yatala gold mines in Mali. Mr. Bruce played a leadership role in the growth of IAMGOLD from its initial non-producer status to attributable gold production of almost 300,000 ounces in 2002, financings that raised C$113 million, the implementation of IAMGOLD’s innovative “Gold Money” policy and in the merger of Repadre and IAMGOLD in January, 2003.
From 1980 through January 1996, Mr. Bruce served in a number of senior management positions with the South African company Johannesburg Consolidated Investment Co. and its successor company, the Anglo American Platinum Corporation. Immediately prior to joining IAMGOLD, Mr. Bruce served as Executive Director in charge of Marketing, Business Development and Strategic Planning for Anglo American Platinum Corporation. Mr. Bruce holds a B.Sc. in Geology from the University of Rhodesia and a Graduate Diploma in Engineering (Mineral Economics) from the University of the Witwatersrand in South Africa.
With Mr. Bruce’s addition to the board, Mr. Waldemar Opalka elected to step down as director to maintain the number of Board members at six. Mr. Opalka will remain the Chief Financial Officer of the company. We welcome Mr. Bruce as Independent Director and thank Mr. Opalka for his contribution as a director, and for his continued service as CFO.
Mr. Buddy Doyle CEO, President of Amarillo said, “We welcome Todd Bruce to the Board of Amarillo Gold Corp. and look forward to drawing on his extensive knowledge and experience of the mining industry and capital markets. His presence will be especially helpful to Amarillo as we advance the Mara Rosa project towards a production decision and press forward with our exploration efforts at Lavras do Sul.”
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 possess 643,000 ounces of indicated resources contained in 13.5MTonnes @ 1.48 g/t Au and 538,000 ounces of inferred resources contained in 13.0MTonnes @ 1.26 g/t Au at a 0.5g/t cut-off grade and the project is in the economic evaluation stage. The Posse deposit is located in an area of excellent infrastructure located some 35 km NE of Yamana’s Chapada open pit Cu-Au operation, 105 km NE of Serra Grande’s underground Au mine, 105 km NNW of Anglo American’s nickel laterite project (in construction), 95 km NW of Votarintim’s Niquelandia nickel laterite mine and approximately 60 kms NE of Yamana’s Pilar Au project (in feasibility). Grid power to the site was established during the previous open pit mining operation and the Serra da Mesa hydro-electric dam lies 35 km to the east.
The Lavras do Sul project is in the advanced exploration stage with over 16,000m of drilling with encouraging gold mineralization being discovered and defined, also in an area of excellent infrastructure. 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 CORP.
Per: “Buddy Doyle”
Buddy Doyle, President
Amarillo Gold Corp.
+ 1-604-689 1799 (Canada)
+55-31-3261 5974 (Brazil)
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