AGC Amarillo Gold Corporation

Amarillo Gold Corp. (TSX VENTURE:AGC) ("Amarillo" or the "Company") is pleased
to announce the filing on SEDAR of a National Instrument ("NI") 43-101 technical
report representing the qualifying report for the recently announced
Pre-feasibility Study at the Mara Rosa Project located in the state of Goias,
Brazil. The report was compiled by Coffey Mining International; the lead
engineering firm in the study. Highlights of the Pre-feasibility Study,
previously reported by Amarillo on November 27th, 2011, are as follows:


Highlights of the economic model, and a summary description of the project
follow (all currency $US unless otherwise stated):




--  Proven and Probable reserves of 17.1MT @ 1.72 g/t yielding 945,200
    ounces of contained gold. Recovery after processing will be 869,600
    ounces of gold. 
--  Initial 7 year mine life with 2.5MT per year throughput. Processing
    comprised of a 12 hour pre-oxidation stage feeding a conventional CIL
    gold recovery circuit. 
--  Average gold production of 124,000 ounces per year. 
--  Average total cash operating cost of $524/ounce (on-mine costs
    $464/ounce with the balance comprising refining, royalties, insurance,
    transport, security costs, etc). 
--  Total gross revenue of $1.044 billion assuming a gold price of
    $1200/ounce. 
--  Pre-Tax Net Present Value at a 5% discount rate ("NPV5") of $283M and an
    IRR of 37.9% based on a gold price of $1200/ounce. 
--  After Tax NPV5 of $178M and an IRR of 26.6% based on a gold price of
    $1200/ounce 
--  Estimated start-up capital of $184M which includes $5.4M working
    capital. 
--  Recommendation to proceed to Feasibility Study ("FS"). 



Several aspects of the Feasibility Study are already underway. 



--  Coffey Mining International is conducting geo-technical and
    metallurgical studies. 
--  Hydrovia is completing ground water studies. 
--  Neotropical is continuing with the environmental work. 



Amarillo has sent out tenders for a lead engineering firm to complete the
Feasibility study. 


The supervising Qualified Person for Coffey Mining International is Norman Lock
C.Geol FGS, PrSciNat. The Qualified Person for Amarillo is Frank Baker, M. IOM3
and MAusIMM.


A copy of the complete report is available at www.sedar.com. 

About Amarillo Gold Corp.

Amarillo Gold Corp. is focused on the acquisition, discovery, and definition of
gold resources in Brazil. The Company's principal projects are the Mara Rosa
Project in the state of Goias, and the Lavras do Sul Project in the state of Rio
Grande do Sul. The Posse Deposit at Mara Rosa contains 1,174,900 ounces of gold
measured and indicated from 20.85 MT at 1.75 g/t Au, and 156,400 ounces of gold
inferred from 3.63 MT at 1.38 g/t Au (0.5 g/t cut-off grade) (NI 43-101
compliant resource as independently determined by Australian Exploration Field
Services Pty. AEFS). The Mara Rosa Gold Project is in the Pre-feasibility stage.


The Posse Deposit was successfully mined by Western Mining Company (WMC) during
the 1990s (mined areas are excluded from the above-stated resource figures), and
is located in an area of excellent infrastructure approximately 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 Ni laterite project (in
construction), 95 km NW of Votarintim's Niquelandia Ni laterite mine, and some
60 km NE of Yamana's Pilar Au project (in Feasibility). 


The Lavras do Sul Project is an advanced exploration stage property (190 sq km)
comprised of more than 19 prospects centered on historic gold workings, with
encouraging gold mineralization discovered and defined by more than 25,000
metres of drilling. The initial resource estimate at the Butia prospect reported
215,000 ounces of gold indicated from 6.4 MT at 1.05 g/t Au, and 308,000 ounces
of gold inferred from 12.9 MT at 0.74 g/t Au (0.3 g/t cut-off grade) (NI 43-101
compliant resource as independently determined by Atticus Consulting 2010).
Lavras do Sul is also located near excellent infrastructure. The Company also
has a portfolio of earlier stage projects and all properties under Amarillo's
management are located in areas of good infrastructure and mining-friendly
communities.


ON BEHALF OF THE BOARD OF DIRECTORS

AMARILLO GOLD CORP.

Buddy Doyle, President

FORWARD LOOKING STATEMENTS:

This news release contains Forward Looking Statements regarding our intentions
and plans. Various factors may prevent or delay our plans, including but not
limited to, contractor availability and performance, weather, access, mineral
prices and success and failure of the exploration and development carried out at
various stages of the program. Readers should review risk factors applicable to
junior mining exploration companies generally to understand the variety of risks
that can affect the Company.

Grafico Azioni Amarillo Gold (TSXV:AGC)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Amarillo Gold (TSXV:AGC)
Storico
Da Giu 2023 a Giu 2024