Amerigo’s MVC Signs Collective Labor Agreement

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Amerigo Resources Ltd. - (TSX: ARG; OTCQX: ARREF) ("Amerigo" or the "Company") is pleased to announce that on October 27, 2022, Minera Valle Central ("MVC"), the Company's 100% owned operation located near Rancagua, Chile satisfactorily concluded negotiations with its 198-member union.

The parties have entered into a new 3-year collective agreement with a term date to October 28, 2025.

"We are pleased to report that negotiations with MVC's union of plant operators concluded satisfactorily, and a new 3-year collective agreement is now in place," said Aurora Davidson, Amerigo's President and CEO. "We look forward to another three-year period of meeting shared objectives with our fellow team members, and for MVC to continue being an employer of choice in Chile," she added.

About Amerigo and MVC

Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile ("Codelco"), the world's largest copper producer.

Amerigo produces copper concentrate and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco's El Teniente mine, the world's largest underground copper mine. Tel: (604) 681-2802; Web: www.amerigoresources.com; Listing: ARG:TSX.

Aurora Davidson, President and CEO

+1 604-697-6207

ad@amerigoresources.com

Graham Farrell

+1 416-842-9003

Graham.Farrell@Harbor-Access.com

http://www.amerigoresources.com/

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