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Amerigo Has No Commercial Paper Exposure

Amerigo Resources Ltd. (TSX: ARG) ("Amerigo" or the "Company") confirmed today that none of the Company's approximately US$32.3 million in cash has been invested in commercial paper backed by residential mortgages or other similar assets. All of the Company's funds are either in current accounts, term accounts or bearer deposit notes with Scotiabank, BMO Bank of Montreal and Banco de Chile.

Amerigo Resources Ltd. is a Canadian company producing copper and molybdenum from its MVC operations near Santiago, Chile.

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 and forward looking information within the meaning of the Securities Acts of Ontario and Alberta. In particular, statements regarding the future additional energy capacity in Chile and the future power costs constitute forward looking information. Such forward-looking information is based on the assumption that the report prepared by the National Energy Commission of Chile is accurate, that the projected additional energy capacity will be added, and that future power costs will return to historical levels. There can be no assurance that such assumptions will be accurate. In addition, such forward-looking information is 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.

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.

Amerigo Resources Ltd.
Dr. Klaus Zeitler
(604) 681-2802 or (604) 218-7013
(604) 682-2802 (FAX)

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