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Title received for Caniapiscau and Bellevue Property Claims & Loan Arranged

06.05.2002

Further to our February 27, 2002 News Release, Amerigo Resources Ltd. announces receipt of title for all 553 cells comprising the 3 claim blocks of the Caniapiscau Property in Quebec. The delay in receiving title was due to the large number of applications that needed to be processed by the Quebec Ministry of Natural Resources.

Amerigo has also received title for the six claims comprising the Bellevue property located in Aweres and Van Koughnet Townships near Sault Ste. Marie, Ontario. As noted in our April 17, 2002 News Release, granting of title was delayed by an Ontario Public
Service Employees Union strike.

Amerigo has also arranged a loan of $50,000 from Golden Capital Securities Ltd. The loan will have an interest rate of 5%. A bonus of 100,000 common shares (20% of the principle amount) will be paid subject to regulatory acceptance.

For further information, please contact:

Roger Moss, President, Tel: (416) 516-6050 E-Mail:  roger.moss@sympatico.ca

Ian E. Gallie, Director, Tel: (250) 598-9091 E-Mail: gallie@horizon.bc.ca

or visit our website at: www.amerigoresources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.