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Acquisition of Common Shares and Warrants of Chariot Resources Limited

02.10.2006

AMERIGO RESOURCES LTD. (Vancouver, British Columbia) announces that it has acquired beneficial ownership of 25.6 million common shares of Chariot Resources Limited ("Chariot") and 11,532,000 share purchase warrants of Chariot. Each share purchase warrant entitles Amerigo to acquire an additional common share of Chariot at a price of $0.35 per share until December 22, 2006. The common shares and warrants acquired represent approximately 19.2% of Chariot's 193,965,147 issued and outstanding common shares, which amount includes common shares issuable on the exercise of the warrants.

Immediately following the acquisition, Amerigo owns 26,643,000 common shares of Chariot and 11,532,000 share purchase warrants of Chariot, representing approximately 19.7% of Chariot’s issued and outstanding common shares, which percentage includes common shares issuable on the exercise of the warrants.

The common shares and warrants of Chariot were acquired through the facilities of the Toronto Stock Exchange on February 10, 2006. Amerigo has purchased these securities for investment purposes. Amerigo believes in the potential of Chariot and its Marcona Copper Project in Southern Peru. Amerigo is supportive of Chariot’s Board and Management and hopes that it can make a contribution to the successful development of this project. Amerigo currently has no future intention to acquire beneficial ownership of any additional securities of Chariot.

Amerigo Resources Ltd. is a Canadian junior company producing copper and molybdenum from its MVC operations near Santiago, Chile. Tel: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX

For further information, please contact:

Michael J. Kuta, General Counsel & Secretary

Amerigo Resources Ltd. (604) 697-6201

The Toronto Stock Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. Statements contained in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company’s filings with the TSX and on SEDAR. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.