Amarillo Gold Corp. (TSX VENTURE:AGC) ("Amarillo" or the "Company") is pleased
to release the latest results from the Butia drilling at its Lavras do Sul
project in southern Brazil.


The Company is currently drilling the Butia prospect, one of a number of areas
at Lavras that has returned significant gold intersections from previous
drilling. The purpose of the current phase of drilling, which commenced in
October 2009, is to generate sufficient information to enable an initial 43-101
compliant estimate of the gold resource at Butia to be prepared. This news
release reports the assay results for the most recent 3 holes of the 16 holes
completed to date: LDH-153, LDH-154 and LDH-155. The results are listed in Table
1. The assay results for 10 of the holes have been reported in previous news
releases, assays are awaited for 3 holes.




Table 1: Composite Assay Results                                           
                                                                           
---------------------------------------------------------------------------
                          From          To                            Grade
Hole No.               (metres)    (metres)   Distance (metres)     (g/t Au)
---------------------------------------------------------------------------
LDH-153                   36.5          49                12.5         0.54
---------------------------------------------------------------------------
                           120       125.5                 5.5         0.32
---------------------------------------------------------------------------
                           147         152                 5.0         0.45
---------------------------------------------------------------------------
                         164.5       169.5                 5.0         0.73
---------------------------------------------------------------------------
                         187.0       192.5                 5.5         0.42
---------------------------------------------------------------------------
                         197.2       202.5                 5.3         0.89
---------------------------------------------------------------------------
                         274.3       306.0                31.7         1.02
---------------------------------------------------------------------------
including                274.3       278.0                 3.7         3.21
---------------------------------------------------------------------------
                           327       332.0                 5.0         0.31
---------------------------------------------------------------------------
LDH-154                   13.5        19.0                 5.5         0.39
---------------------------------------------------------------------------
                            32         222                 190         0.94
---------------------------------------------------------------------------
including                   90          94                   4         3.96
---------------------------------------------------------------------------
                           173         176                   3         4.31
---------------------------------------------------------------------------
LDH-155                   87.0       110.0                  23         1.33
---------------------------------------------------------------------------
                         132.5       170.0                37.5         0.43
---------------------------------------------------------------------------



Notes: All drill hole samples shown here consist of split HTW and NTW diamond
drill core. The samples are sent to Acme Laboratories in Goiania, Brazil, and
Vancouver, Canada, Samples are first subjected to a multi-element ICP assay that
includes Au and then sent to fire assay for Au using 30g aliquots. If the grade
is higher than 5 g/t a gravimetric method is used. All samples are subject to a
chain of custody and are submitted with standards and blanks to check the assay
results. The laboratories also use internal standards and repeat analysis. For
the results reported in this release all the standards, blanks and repeats
delivered acceptable results. Intercepts were calculated using a minimum of a
0.3 g/t cut off at the beginning and end of the intercept and allowing for no
more than 10 consecutive metres of less than 0.3 g/t Au. The drilling is
exploratory and designed to cut a fence perpendicular to the most elongated
direction in the alteration hosting the mineralization,, true widths are given
when known in the text of the News release, otherwise they are not yet known. 


The location of the drill holes can be found in Table 2 listed by UTM
co-ordinates, and by referring to an updated plan map to be posted at the
Company's website, www.amarillogold.com. The plan map is also presented at the
end of this release as Figure 1.


The episyenite altered gold mineralized zone at Butia appears to have an "L" or
"Hockey Stick" shape in plan view. The company currently interprets this to be
caused by the intersection of an E-W structure that carries gold mineralization
for at least 250m along its strike, and a N-S structure that carries gold for at
least 200m along strike. The mineralization continues from surface to at least
150m depth, where it is still open. Drill hole LDH-153 was an E-W hole that
tested the northern sector of the prospect and intersected the deeper portion of
the N-S structure. The shallower results show intermittent zone gold
mineralisation. The 31.7m @ 1.02 g/t Au intercept in this hole is interpreted as
the intersection of the N-S structure at depth where it has a true width of 24m.
Drill hole LDH-154 was drilled 50m south of LDH-153 in the same orientation. It
appears to have intersected the northern edge of the E-W structure giving a long
intercept of gold values. It terminates under the N-S structure giving more
evidence for an easterly dip to this structure. LDH-154 was drilled N-S in the
northern part of the prospect along section 2. The gold mineralization in this
hole and the mineralization intercepted in the upper part of drill hole
LDH-150A, 50m to the west (77m to 148m, 71m @ 0.54 g/t) appear to form a new E-W
mineralized zone centred on the historic workings called Guampa de Ferro. Drill
holes 50m to the east and west of this mineralized zone are barren along strike,
thus limiting its extent to less than 100m. The zone has a maximum true width of
36m.


The drilling continues at the Butia prospect area. The drill is currently
testing the eastern extension of the E-W structure. Four holes in total are
planned. When work is completed the drill is expected to be moved to other areas
within the Butia alteration zone. Depending on the outcome of this work, the
drill will then be moved to the Cerrito prospect 5km to the east.


With the results of drill holes LDH-153, LDH-154 and LDH-155 to hand,
compilation of the planned 43-101 compliant resource estimate will now commence.
This initial Butia resource estimate will be the subject of a more detailed news
release as soon as it is completed in the near future. 




Table 2:                                                                 
                                                                         
Drill Holes Completed in the Current Program.                            
                                                                         
                                       TOTAL                             
DRILL HOLE       AZIMUTH       DIP  DEPTH (m) SAMPLES  EASTING   NORTHING
                                                                         
                     200       -55                                       
LDH-144(i)       degrees   degrees    364.28      307   218144    6586763
                     200       -60                                       
LDH-145(i)       degrees   degrees    256.98      166   218089    6586719
                     200       -80                                       
LDH-146(i)       degrees   degrees    290.21      202   218162    6586638
                     200       -60                                       
LDH-147(i)       degrees   degrees    433.33      307   218203    6586698
                     200       -60                                       
LDH-148(i)       degrees   degrees    383.15      265   218355    6586702
                               -60                                       
LDH-149(i)    45 degrees   degrees    292.35      284   218091    6586444
                     200       -60                                       
LDH-150(i)       degrees   degrees     21.25       29   218225    6586619
                     200       -60                                       
LDH-150A(i)      degrees   degrees     408.5      291   218241    6586653
                     290       -60                                       
LDH-151(i)       degrees   degrees    356.95      204   218326    6586435
                     290       -60                                       
LDH-152(i)       degrees   degrees     276.8      191   218156    6586575
                     290       -60                                       
LDH-153(ii)      degrees   degrees     369.4      228   218277    6586553
                     290       -60                                       
LDH-154(ii)      degrees   degrees    308.65      261   218232    6586516
                     200       -60                                       
LDH-155(ii)      degrees   degrees    348.95      193   218280    6586661
                     200       -60                                       
LDH-156          degrees   degrees    377.55      208   218085    6586515
                               -60                                       
LDH-157       20 degrees   degrees     453.4      267   218242    2586294
                     200       -60                                       
LDH-158          degrees   degrees     247.5      114   218324    6586474
TOTAL                                5189.25                             
                                                                         
Note: Samples include standards, blanks and duplicates, inserted at      
approximately every 30th drill core sample. The entire length of core is 
sampled. Those areas that appear to be mineralized are sampled at 1m     
intervals, all others at 2.5m. The UTM co-ordinates are given using the  
SAD-69 system, zone 22.                                                  
                                                                         
(i) Reported in an earlier news   (ii) Reported in this news             
release                           release.                               
                                                                         
LDH150 was abandoned @ 21.25m as the hole intersected old mine workings. 



This press release was reviewed by Buddy Doyle (B. App. Sc.), a member of
AusIMM, with 28 years experience and a qualified person in compliance with
National Instrument 43-101.


ABOUT AMARILLO:-

Amarillo Gold Corp. is a company focused on the acquisition, definition and
discovery of gold resources in Brazil. Its 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 was found by an independent 43-101
compliant preliminary economic assessment study carried out by CCIC to contain
643,000 ounces indicated from 13.5MTonnes @ 1.48 g/t Au, 538,000 ounces inferred
from 13.0MTonnes @ 1.26 g/t Au at a 0.5g/t cut-off grade and the project is in
the economic evaluation stage. The Posse deposit is located in an area of
excellent infrastructure located some 35 km NE of Yamana's Chapada open pit
Cu-Au operation, 105 km NE of Serra Grande's underground Au mine, 105 km NNW of
Anglo American's nickel laterite project (in construction), 95 km NW of
Votarintim's Niquelandia nickel laterite mine and approximately 60 kms NE of
Yamana's Pilar Au project (in feasibility). Grid power to the site was
established during the previous open pit mining operation and the Serra da Mesa
hydro-electric dam lies 35 km to the east.


The Lavras do Sul project is in the advanced exploration stage with over 15,000m
of drilling with encouraging gold mineralization being discovered and defined,
also in an area of excellent infrastructure. The Company also has a portfolio of
earlier stage projects. All properties under Amarillo's management are located
in areas of good infrastructure and robust community support.


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. 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. Readers should review risk factors applicable to
junior mining exploration companies generally to understand the variety of risks
that can affect the Company.


To view the Figure 1: Butia prospect drilling plan map, please visit the
following link: http://media3.marketwire.com/docs/ButiaFig1.jpg


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