Amarillo Files Updated Pre-Feasibility Study and Announces Results of Its Annual General and Special Meeting
September 13 2018 - 11:37AM
Amarillo Gold Corporation (“Amarillo” or the “Company”)
(TSX.V: AGC) (OTCQB: AGCBF) is
pleased to announce that it has filed on SEDAR (www.sedar.com) the
Pre-Feasibility Study update on the Company’s flagship Mara Rosa
Project. The highlights of this updated study titled “Technical
Update on the Posse Gold Project, Brazil, September 2018” were
reported in our press release on September 12, 2018.
The Company is also pleased to announce that all
resolutions presented at the Company’s Annual and Special General
Meeting of Shareholders held on September 12, 2018 (the
“Meeting”) were approved by the shareholders of
the Company, being resolutions in regards to the following:
- The reappointment of MNP LLP, Chartered Accountants as auditors
of the Company for the ensuing year and the authorization of the
directors of the Company to fix the auditors’ remuneration and the
terms of their engagement.
- Fixing the number of directors of the Company (and the number
of directors to be elected at the Meeting) at six.
- The election of the director nominees set forth in the
Company’s management information circular dated August 10, 2018
(the “Circular”), being David Birkett, Michael
Mutchler, Rostislav Raykov, Stephen Stow, Colin Sutherland and
Rowland Uloth.
- The re-approval and ratification of the Company’s rolling stock
option plan.
A total of 49,000,455 common shares representing
44.74% of the outstanding common shares were present in person or
by proxy at the Meeting.
For further details regarding the matters
considered at the Meeting, please refer to the Circular, which can
be found under the Company’s profile on SEDAR at www.sedar.com.
ABOUT
AMARILLO
Amarillo is developing an open pit gold resource
at its Mara Rosa Project in the mining friendly jurisdiction of
Goias State in Brazil. The Mara Rosa Project was awarded its main
(LP) permit which provides the social and environment permission to
mine. Amarillo is progressing toward obtaining an installation
permit (LI). Based on the NI 43-101 Pre-Feasibility Study 2018
update filed on SEDAR on September 13, 2018, the Posse Deposit at
the Mara Rosa Project contains estimated 513,000 ounces of gold in
the Proven category from 9.6 Mt at 1.65 g/t Au, and 574,000 ounces
gold in the Probable category from 14.2 Mt at 1.26 g/t Au, for
total estimated Reserves of 1,087,000 ounces from 23.8 Mt at
1.42 g/t Au. In addition to the Mara Rosa Project, Amarillo
has an advanced exploration project with excellent grades at Lavras
do Sul, Brazil. A Mineral Resource Estimate Study (NI 43-101
technical report) for Lavras do Sul was filed on SEDAR on October
4, 2010. The Lavras do Sul Project is an advanced exploration stage
property (190 sq. km.) comprising of more than 22 prospects
centered on historic gold workings. The initial resource estimate
at the Butia prospect reported 215,000 ounces of gold in the
Indicated category from 6.4 Mt at 1.05 g/t Au, and 308,000 ounces
of gold in the Inferred category from 12.9 Mt at 0.74 g/t Au using
a 0.3 g/t cut-off grade. Both projects have excellent nearby
infrastructure.
Mike Mutchler, President and Chief Executive
Officer of the Company, is a Qualified Person as defined by NI
43-101 guidelines, and has reviewed and approved the scientific and
technical disclosure in this news release.
For further
information, please
contact:
Mike
Mutchler
or
Karen MatePresident &
CEO
External Communications 416-294-0736
416-230-6454mike.mutchler@amarillogold.com
karen.mate@amarillogold.com
32 Richmond St. East Suite 201 Toronto, ON Canada, M5C
1P1Website: www.amarillogold.com
Neither the 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 the content of this news release.
FORWARD LOOKING STATEMENTS:
This news release contains Forward Looking
Statements regarding the Company’s current expectations regarding
future events, including with respect to the Company’s business,
operations and condition, and management’s objectives, strategies,
beliefs and intentions. Various factors may prevent or delay our
plans, including but not limited to, the trading price of the
common shares of the Company, 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. Permission from the Government and community
is also required to proceed with future mining production. Readers
should review the Company’s ongoing quarterly and annual filings,
as well as any other additional documentation comprising the
Company’s public disclosure record, for additional information on
risks and uncertainties relating to these forward-looking
statements. Readers should also review the risk factors applicable
to junior mining exploration companies generally to better
understand the variety of risks that can affect the Company. The
Company undertakes no obligation to update publicly or otherwise
revise any Forward Looking Statements whether as a result of new
information or future events or otherwise, except as me be required
by law.
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