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News

$375,000 Private Placement & Stock Options Granted


June 19, 2002

Amerigo Resources Ltd. announces that it intends to complete a private placement of 1,875,000 units at $0.20 per unit. Each unit consists of one common share in the capital of the Company and one share purchase warrant exercisable into one common share at $0.20 for a period of two years from the date of issuance. The common shares will be subject to a four-month hold. The Company has agreed to pay a cash finders fee equal to 7.5% of the gross proceeds as well as issue warrants exercisable for a period of two years into one common share at a price of $0.20 equal to 10% of the units being subscribed for.

The finders fee is payable to Golden Capital Securities Ltd. and one other party. Amerigo announces that it has granted options to purchase a total of 320,000 common shares, at an exercise price of $0.20 per share, to three directors and two consultants of the Company. The options expire on the 5th anniversary of the date of the grant.

Both the private placement and the granting of options are subject to TSX Venture Exchange approval.

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.

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