Amarillo Announces Market-Maker Appointment and Attendance at Upcoming Conferences

TORONTO, Oct. 24, 2018 - Amarillo Gold Corp. (“Amarillo” or the “Company”) (TSX.V: AGC) (OTCQB: AGCBF)

Amarillo is pleased to announce that it has retained Integral Wealth Securities Limited (“Integral”) to provide Market-Making services in accordance with TSX Venture Exchange (“TSXV”) policies. Integral will trade securities of Amarillo on the TSXV for the purposes of maintaining an orderly market of Amarillo’s securities. In consideration of the services provided by Integral, Amarillo will pay Integral a monthly cash fee of $5,500. Integral will not receive shares or options as compensation. However, Integral and its clients may have or may acquire a direct interest in the securities of Amarillo. Amarillo and Integral are unrelated and unaffiliated entities; Integral is a member of the Investment Industry Regulatory Organization of Canada (“IIROC”) and can access all Canadian Stock Exchange and Alternative Trading Systems. The capital and securities required for any trade undertaken by Integral as principal will be provided by Integral. The agreement will have a minimum term of 12 months. Following the 12-month anniversary of the agreement, Amarillo may terminate the agreement on 30 days’ notice.

Integral Wealth Securities Limited is a national, independent investment dealer that provides private and public issuers with investment banking services, institutional investors and public issuers with capital markets services and affluent individuals with wealth management services. Founded in 2003, the firm has established capabilities in market making, energy banking, and private debt / equity.

Amarillo also plans to attend the following conferences:

• San Francisco Silver and Gold Summit to be held in San Francisco on October 28-29, 2018 at The Hilton Union Square in the Continental Ball Room. One on ones are also available October 27th.
  
• New Orleans Investment Conference (NOIC) to be held in New Orleans, Louisiana on November 1-4, 2018 at The Hilton New Orleans Riverside. A corporate presentation will be held November 3, 2018 at 11:55 A.M. in the Grand Ballroom.

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:

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.