Couloir Capital Ltd. Is Pleased to Announce the Updating of Research Coverage and Valuation on Amarillo Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - November 2, 2020) - Couloir Capital Ltd. is pleased to announce the updating of research coverage and price target on Amarillo Gold Corp. (TSXV: AGC) (OTCQB: AGCBF). The report is titled, "Strong Shareholder Support Underpins Development and Exploration Milestones."

About Amarillo Gold Corp.

Amarillo Gold Corporation (TSXV: AGC) (OTCQB: AGCBF) is building Brazil's next profitable gold mine. They have approximately C$57 million in cash, 382.1 million shares outstanding, and a market cap of approximately $115 million. Amarillo recently closed underwritten private placement and bought deal prospectus offerings that raised gross proceeds of $57.2 million. Their board and management team own approximately 6% of the shares outstanding.

They are advancing two gold projects in Brazil, where they have a strong social license to operate. Both are in mining-friendly states, and close to excellent infrastructure.

Their flagship asset is the development stage Posse Gold Project on their Mara Rosa Property in the State of Goiás. A positive feasibility study shows that Posse has a 10-year mine life at an AISC to produce gold of US$631 per ounce. With mineralization four kilometres northeast of the deposit, which is open at depth, there are many opportunities to expand the resources at Mara Rosa and add to Posse's mine life.

About Couloir Capital Ltd.

Couloir Capital Ltd. is an investment research firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies. Couloir Capital Ltd. is affiliated with a registered securities dealer, Couloir Capital Securities Ltd., and an investment entity, the West Cirque Fund Limited Partnership.

For further information, or to receive a copy of the report please contact:

Rob Stitt, Managing Director, Couloir Capital Ltd.

Analyst Disclosure: The analyst and/or companies do not hold shares in the subject issuer.

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