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Completely arranged and launched by Amarillo Gold Corporation and Lavras Gold Corp., The Canadian Business Journal

Toronto, April 1, 2022 (GLOBE NEWSWIRE) — Amarillo Gold Corporation (TSX: AGC) (“Amarillo“) When Lavras Gold Corp. (“”Love Las Gold” or “society“) Completed the arrangement plan (“Placement”) Transactions involving the acquisition of Amarillo by a subsidiary of Hochschild Mining PLC (“”Hokusiruto“) And a spin-out of Lovelas Gold. According to the arrangement, each share of Amarilo will have a cash consideration of $ 0.40 and one common stock (each, respectively).Love Las Gold Share”) Lavras Gold, a new Brazilian-focused exploration company based in Toronto, Ontario.

Amarilo is now a wholly owned subsidiary of Hochschild. Amarilo is expected to be delisted from the TSX Venture Exchange (“TSXV) And it applies to being no longer a report issuer.

Lavras Gold Corp.
At the end of the arrangement, Lavras Gold was launched as an independent, well-capitalized mineral exploration company wholly owned by a former Amarilo shareholder. Lavras Gold owns all Lavrasdo Sul Gold project assets owned by Amarillo prior to the end of the arrangement.

Conditional listing approval for Lovelas Gold Share has been received from TSXV. Once the TSXV listing conditions are met, Labras Gold shares are expected to be traded on TSXV under the “LGC” symbol. Trading of Labras gold stocks on TSXV is expected to take place in approximately 4-5 trading days starting today.

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  • Capitalized in cash of approximately C $ 9.4 million
  • Retains all of Amarilo’s previous assets and rights with respect to the Labras de Sul gold project in the advanced exploration stage.
  • Butia Prospect’s recent estimated measurements, indications and estimated mineral resources, which form part of the Labras de Sul gold project, along with other identified future exploration targets.
  • Close to existing infrastructure in good condition for mining
  • The Maralosa Project holds a 2.0% net smelter revenue royalty for certain exploration facilities other than Amarilo’s current Posse resources.

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Lavras Gold is a junior exploration company engaged in the exploration and development of the Lavrasdo Sul Gold Project in Rio Grande do Sul, Brazil. The Lavras do Sul Gold Project is an advanced exploration stage property with an area of ​​approximately 190 square kilometers and consisting of more than 22 perspectives centered on the historic gold mechanics, including the Butea perspective.

Lavras Gold’s vision is to become one of Brazil’s leading independent exploration and production companies, maximizing shareholder value by bringing its disciplined exploration approach to the Lavras do Sul Gold project and other potential opportunities. Is to do.

In the short term, the aim is to carry out ongoing exploration activities under the Labras de Sul Gold Project. This includes the work programs recommended in the Technical Report.NI 43-101 Technical Report Butea Gold Prospect Mineral Resources,Will be available on SEDAR on www.sedar.com under the profile of Lavras Gold as of March 21, 2022.

More information about Lovelas Gold can be found in Lovelas Gold’s TSXV Form 2B List application. This application will be available on the Labras Gold profile on SEDAR at www.sedar.com.

contact address
Lavras Gold Corp.
info@lavrasgold.com

Disclaimer
Neither the TSX Venture Exchange nor its Regulatory Service Providers (as defined in the TSX Venture Exchange Policy) are responsible for the validity or accuracy of the content of this news release.

Forward-looking statements and notes
The specific information provided in this news release constitutes a forward-looking statement. Specifically, this news release describes the timing of the listing of Labras Gold shares on TSXV, the prospects for exploration and development of the Labras Dosul Gold project, and future prospects for Labras Gold’s planned operational activities. It contains. Forward-looking statements are made to specific key expectations and assumptions by Labras Gold, including expectations and assumptions regarding the fulfillment of TSXV listing requirements, capital availability, and risks associated with Labras Gold’s limited business history. Is based. Risks associated with the nature of mineral exploration and development. Disagreement between actual mineral reserves and estimated mineral reserves and resources. Factors beyond the control of Labras Gold, including fluctuations in gold market prices, mineral recovery from mined ore, and general economic and business conditions, including the effects of the war in Ukraine and the COVID-19 pandemic. Risk caused by. Risks associated with competition in the mineral industry. Risks associated with environmental law and regulatory requirements, including regulation and liability. Risks associated with permit and license acquisition and future changes in environmental laws and regulations. Risks associated with the inability of Labras Gold to insure for certain potential losses. Risks associated with competition in the gold mining industry. Environmental risks and hazards, including unknown environmental risks associated with past activities. Risks associated with political development and policy shifts. Risks associated with landfill costs. Risks associated with the title of Labras Gold for mineral properties. Risks associated with dependence on key persons. Risks and other risks associated with law revisions. Readers should be aware that the assumptions used to create such information may turn out to be incorrect, even if they were considered reasonable at the time of creation.
These forward-looking statements are based on certain important expectations and assumptions. Lavras Gold believes that the expectations and assumptions underlying the forward-looking statement are reasonable at the time of preparation, but Lavras Gold should not place excessive reliance on the forward-looking statement. .. the right thing. Forward-looking statements, by their very nature, carry inherent risks and uncertainties as they correspond to future events and circumstances. Actual results may differ significantly from what is currently expected due to many factors and risks. There is no guarantee that Lovelas Gold Share will be listed on TSXV. These and other risks are described in detail in Lavras Gold’s TSXV Form 2B Listings application. This application is expected to be available in the Lavras Gold profile on SEDAR at www.sedar.com.

Forward-looking statements contained in this news release are current as of this document. Unless required by applicable securities law, Lavras Gold publicly updates or revise any forward-looking statement made in this document or otherwise as a result of new information, future events, etc. We shall not be obliged.

Available PDFs: http://ml.globenewswire.com/Resource/Download/9c31e6fa-ff27-4c45-b8fb-53ab14adb3b3


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Completely arranged and launched by Amarillo Gold Corporation and Lavras Gold Corp., The Canadian Business Journal

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