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TSX: ARG$1.7 OTCQX: ARREF$1.145

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$250,000 Private Placement Completed

04.08.2003

AMERIGO RESOURCES LTD. reported today that the company has completed the private placement of units for total proceeds of $250,000 and has filed final documents with the TSX Venture Exchange. The proceeds of the financing will be used for due diligence on the acquisition of Chilean copper producer Minera Valle Central S.A. (“MVC”). Each unit consists of one share and one-half of one warrant exercisable for two years at $0.32, and both shares and warrants will be subject to a four month hold period from the date of TSX Venture Exchange final acceptance.

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.

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