Amarillo Gold Corp.: No Material Change

Amarillo Gold Corp. (TSX VENTURE:AGC) ("Amarillo" or the "Company") announces it
is not aware of any reason for the recent rise in the Company's share price.
There are no undisclosed material changes in the affairs of the Company that
might cause such an increase in share price.


Buddy Doyle, Amarillo CEO, commented, "The share price rose on small trading
volume of similar magnitude to the share price decline three weeks ago and it is
management's belief these fluctuations are the natural consequence of the
current market conditions, and are not caused by any material change in the
company. Shareholders should expect to see news to continue to be disseminated
in its normal timely fashion."


About Amarillo Gold Corp.

Amarillo Gold Corp. is focused on 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 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) (NI 43-101
compliant resource as independently determined by Australian Exploration Field
Services Pty. AEFS). The Mara Rosa Gold Project has received a positive economic
assessment from a Pre-feasibility study and is preparing to proceed to a
bankable feasibility study. Should this continue to be positive it would be
possible to commence mining by 2014.


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, some 60 km NE of Yamana's Pilar Au
project (in Feasibility), 95 km NW of Votarintim'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. 


The Lavras do Sul Project is an advanced exploration stage property (190 sq. km)
comprising 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 using a 0.3 g/t cut-off grade in a
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. The PFS model presented in this news release is not a production
forecast by the company. There remains at present insufficient certainty in the
PFS to reliably estimate future production and economics, further engineering
and geology studies are required to determine this. The scope of this PFS was to
deliver a project with plus or minus 20% accuracy in its estimates. 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. The planned DCF is designed to achieve a higher accuracy in our
engineering and economic estimates. At the end of the DCF the company should
have enough information to attract bank financing on the project, should it be
still be suitably economically and risk attractive. Permission, from the
Government and community is also required to proceed with future mining
production. There many mining projects in the state of Goias and several
recently permitted mines. This would suggest successful permitting of the Mara
Rosa project is highly likely. However, each mine is treated separately in the
permitting process and the project is not yet far enough along the permitting
process to guarantee if environmental permits will be received. Readers should
review risk factors applicable to junior mining exploration companies generally
to understand the variety of risks that can affect the Company.
Amarillo Gold (TSXV:AGC)
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