Amarillo Grants Stock Options
September 17 2018 - 03:50PM
Amarillo Gold Corporation (“Amarillo” or the “Company”)
(TSX.V: AGC) (OTCQB: AGCBF) wishes to announce that
it has granted 1,400,000 incentive stock options to directors and
officers at a price of $0.23 with a 5 year term expiring on
September 17, 2023, in accordance with TSX Venture Exchange
policies.
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 President &
CEO416-294-0736mike.mutchler@amarillogold.com |
or |
Karen
MateExternal Communications
416-230-6454karen.mate@amarillogold.com |
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32 Richmond
St. East Suite 201 Toronto, ON Canada, M5C 1P1Website:
www.amarillogold.com |
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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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