Published: March 1, 2016 |

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Amarillo Gold Corp. has completed the public hearing, which is the last major step in obtaining the preliminary environmental license (LP) for Amarillo’s Posse gold deposit, was held on February 23, 2016 in the town of Mara Rosa, Goias state, Brazil.

More than 600 people attended, including the mayor of Mara Rosa, representatives from the Department of Mines (DNPM), other authorities, members of religious communities, social organizations, the business community, public servants, union representatives, residents of neighboring cities, and deputies from both the National and Goias congresses.

The public hearing is a fundamental part of the licensing process, it provides an opportunity for the company and its environmental and social consultants, DBO Engenharia Ambiental and Integratio Mediação Social e Sustentabilidade, to present and describe the project and its socio-environmental aspects. It also gives the stakeholders a chance to ask questions and express opinions about the project. The proceedings were recorded by the secretary provided by Secretariat of Environment, Water Resources, Infrastructure, Cities and Metropolitan Affairs (SECIMA) and all concerns and comments are considered when granting the final LP. Given the large number in attendance the reach out to the community was judged as successful. Over one hour was spent responding to several questions from the public and Public Prosecutors office (MP) representatives.

The atmosphere at the meeting was overall very positive with many complementing Amarillo and its consultants on their approach. During the question time the focus was on the use of cyanide, water, labor and financial transparency. The responses to these questions by the company, its consultants and various government representatives appeared to have been satisfactorily received.

“We are very confident that this project will move forward to its construction phase and subsequent operation, as we and the public authorities work together to fulfill all the necessary requirements to make Amarillo Gold’s Mara Rosa (Posse Mine) project into a reality, bringing the expected benefits to the local community, to our shareholders and, ultimately, to the country,” said Buddy Doyle, president and CEO of Amarillo Gold.

The company expects no further hurdles to being granted the LP which should occur within the next 2 months.

Once the LP is in hand the company will focus on the second stage of the permit process, the installation license, which will require a bankable feasibility study, detail engineering of the tailings dam, basic engineering of the plant as well negotiations and agreements with the surface right holders. Construction can commence once the installation license is obtained.

About Amarillo Gold
Amarillo Gold Corp. is focused on acquisition, discovery, and definition of gold resources in Brazil. It is the company’s policy to strive to do this in a sustainable, safe way, using best practices whilst benefiting our shareholders and the communities we work in. 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 measured and indicated gold contained in 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). The Mara Rosa Gold Project has received a positive economic assessment from a pre-feasibility study and Amarillo is proceeding to get the project permitted. The Posse Deposit was successfully mined by Western Mining Corporation during the 1990s, and is located in an area of excellent infrastructure: approximately 35 km NE of Yamana’s Chapada open pit Cu-Au operation, some 80 km NE of Yamana’s Pilar Au project, 95 km NW of Votarantim’s Niquelandia Ni laterite mine, 105 km from NE of Serra Grande’s underground Au mine, and 105 km NNW of Anglo American’s Ni laterite project at Barro Alto.

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