[Marinir] {Disarmed} Amarillo Gold Upgrades Mara Rosa Resource to 1.17 Million Ounces (M+I) at 1.75 g/t Gold

Tue Sep 13 16:15:48 CEST 2011

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http://www.amarillogold.com/ 

Amarillo Gold Upgrades Mara Rosa Resource to 

1.17 Million Ounces (M+I) at 1.75 g/t Au 

Amarillo Gold Corp. (TSX-V: AGC 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=AGC&region=C&lookup=symbol&snapshot=default 

) is pleased to announce that it has received an updated gold resource 
calculation for its 100%-owned Posse deposit on the Mara Rosa gold 
project in Goias State, Brazil. The new gold resource estimate includes 
the most recent 31 drill holes completed during an 8524 metre definition 
drilling program. The results are given in Table 1 below and are NI 
43-101 compliant. 

Table 1. Posse Deposit resource estimate using 0.5g/t gold cut-off. 

Cut-off Category Tonnes Grade Contained Oz 

0.5 g/t Measured 5,463,000 2.04 358,300 

Indicated 15,393,000 1.65 816,600 

Total M+I 20,856,000 1.75 1,174,900 

Inferred 3,630,000 1.34 156,400 

The independent qualified person for the resource estimate report is 
Hugo Hoogvliet, a consulting geologist with 25 years experience and a 
member of the AIG. The resource calculation was completed by Keith 
Whitehouse a geologist with 30 years experience and a principal of 
Australian Exploration Field Services Pty Ltd. ("AEFS"). Mr. Whitehouse 
is a member of the Aus.IMM and a CP (Chartered Professional Geologist). 

The modeling process consisted of completing four runs through the data 
for each of the zones modeled (Hanging Wall, Main, and Foot Wall) using 
different size search ellipsoids. The different ellipsoids were 
initially used to differentiate and assign resource classification codes 
to each resource block (i.e. Measured, Indicated, Inferred and Not 
Classified). This process was then refined based on the drill-hole data 
density. The resource was modeled using two different modeling 
algorithms - Inverse Distance Squared and Median Indicator Kriging. A 
second run with modified search parameters to specifically model the 
higher grade portions of the deposit was completed and combined with the 
model from the first run. This combined resource model improved the fit 
to the raw data. The estimates were made using Micromine software. 

Buddy Doyle, CEO and President of Amarillo commented, "We are very 
pleased with these results. The definition drilling has materially 
improved the quality of the gold resource at Posse. Prior to definition 
drilling the indicated resource was 60% of the global resource; now it 
is more than 90% (M+I), and the gold grade has also improved over past 
estimates. The Measured and Indicated category resources will now be 
used as the basis for the pit design, scheduling, and the economic 
modeling for the ongoing Pre-feasibility Study, which is on track for 
completion early next quarter." 

The qualified person for this report as per the NI 43-101 guidelines is 
Kevin R. Kivi, PGeo (APGO). 

The full report regarding this new resource estimate can be viewed on 
the Company's website www.amarillogold.com 

http://www.amarillogold.com 

and has also been filed on SEDAR. 

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). Grid power to the site was 
established during WMC's open pit mining operation, and the Serra da 
Mesa (450 MW) hydro-electric dam lies 35 km to the east. 

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 16,000 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. 

Per: "Buddy Doyle" 

Buddy Doyle, President 

Contacts: 

Amarillo Gold Corp. 

+ 1-604-689 1799 (Canada) 

+55-31-3261 5974 (Brazil) 

info at amarillogold.com 

Neither TSX Venture Exchange nor its Regulation Services Provider (as 
that term is defined in the policies of the TSX Venture Exchange) 
accepts responsibility for the adequacy or accuracy of this release. 

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. 

For more information about this service, please see: 
www.infostockbiz.com 

http://www.infostockbiz.com 

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