Amarillo Gold Commences Pre-Feasibility Update at Mara Rosa Project - Seite 2

5.46MT @ 2.04 g/t Au Measured, 15.39MT @ 1.65 g/t Au Indicated 1,210,100 ozs Au⁽⁴⁾
8.887MT @ 1.98 g/t Au Measured, 13.149MT @1.53 g/t Au Indicated Reserve 945,000 ozs Au New reserve to be determined as per result of this study Stockpiling Not evaluated To be evaluated Mining fleet 110 tonne trucks imported and 45 tonne domestic 45 tonne only to be investigated for lower CAPEX higher OPEX Mining cost $1.40 per tonne owner operated Costs expected to increase ⁽⁵⁾ Engineering Clay lined tailings dam Membrane lined tailings dam⁽⁶⁾ Energy $US 0.05 per kWh $US 0.08 per kWh Gold Price $1100/ounce pit, $1200 ounce Economic Model Gold prices are similar today to that of 2011 PFS study

Notes for table 1.
(1)	NB The 2017 PFS study numbers are subject to change as the study progresses.
(2)	Current exchange rate
(3)	New ramp inter-slope angles based on the geotechnical study announced May 16 2013
(4)	New resource statement released September 27th 2016 by Keith Waterhouse QP prepared in accordance to NI 43-101 compared to the Resource announced in the 2011 PFS by the same QP.
(5)	Guidance based on other open pit mining operations, mining cost in Brazil and other recent 43-101 PFS and Feasibility studies from Brazil
(6)	The authorities have requested the tailings facility should be lined as part of the Preliminary License, (LP) this will increase the capital expenditures compared to 2011

SRK have indicated that the base case gold price to be used in the updated economic model will remain at US$1,200 per ounce, this will allow easy comparison between the studies, likewise a spread of gold prices will be given in a sensitivity analysis similar to the 2011 PFS. The same mill throughput of 2.5 million tonnes a year will also be used.