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TSX Venture Exchange Conditionally Approves Minera Valle Central Acquisition

AMERIGO RESOURCES LTD. reported today that the TSX Venture Exchange has conditionally approved the acquisition by the company of Chilean copper producer Minera Valle Central S.A. (MVC). Final Exchange approval is subject to the company obtaining financing to fund the purchase price and certain proposed upgrades to MVC’s operation, and the receipt of the approval of the majority of the shareholders of the Company.  Amerigo has the option until June 30, 2003 to purchase MVC for US$20,000,000, of which US$16,600,000 is payable on closing and the balance is payable in three to five years, depending on the price of copper.

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

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