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Steven Dean and Klaus Zeitler Join Amerigo Board

04.01.2003

AMERIGO RESOURCES LTD. reported today that Steven Dean and Klaus Zeitler have joined the Board of Directors of Amerigo.  Irene Wilson has resigned from the Board to accommodate the appointments.  In addition, Jeffrey Giesbrecht has been appointed Secretary of Amerigo.

Amerigo continues to undertake due diligence on its recently acquired option to purchase the outstanding shares and shareholder loans of Minera Valle Central S.A. (MVC), a Chilean copper producer.   Amerigo has received a preliminary report from AMEC International (Chile) S.A. describing the technical, production and operating cost aspects of the operation, including a preliminary review of a number of possible cases which will increase copper production from MVC’s facilities.  This preliminary analysis leads to a detailed engineering report which is to be delivered by AMEC to Amerigo in mid-April, 2003.

Amerigo representatives are currently in Chile reviewing corporate due diligence on MVC with Amerigo’s Chilean legal advisors and negotiating with one remaining holder for the acquisition of 5% of the shares and shareholder loans of MVC not held under the option agreement. 

Amerigo Resources Ltd. is a Canadian junior exploration company with properties in Ontario and Quebec.  In addition to the option to acquire MVC, Amerigo is exploring for Olympic Dam style copper-gold deposits on four properties in the Sault Ste. Marie area of Ontario.

For further information, please contact:  
  
Jeffrey Giesbrecht, Secretary (604) 641-2779

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