AM Gold to Augment Current 666,000 oz Gold Resource Estimate with Imminent Developments on Key Projects, Noteworthy Former Homestake Mining Appointments

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First resource estimate imminent on Red Mountain, Yukon will augment current NI 43-101 compliant resource of 666,000 oz Gold and 385 Million pounds of Copper in Peru. The risk-reward characteristics are highly advantageous for investors establishing a long position in AM Gold Inc. (TSX VENTURE: AMG) (US Listing: ACERF) as the current market cap of AMG.V relative to the inherent value of their properties seem disproportionate. Shares of AM Gold Inc. appear poised for significant upward price movement with only ~38M shares outstanding (~51M fully diluted) and is trading under CDN$0.60.

Mining MarketWatch Journal has published a review on AM Gold Inc. (TSX VENTURE: AMG) (US Listing: ACERF). The review offers insight and opportunity afforded investors as AMG.V is anticipated to release its first NI 43-101 compliant resource estimate on the Red Mountain gold project imminently. AM Gold will also soon (by the end of July 2010) be providing a new updated resource estimate on its Pinaya gold-copper project in Peru which currently contains a NI 43-101 compliant 666,000 ounces of gold and 385 million pounds of copper resource.

Mining MarketWatch Journal also has the profiles of two key appointments to AM Gold's board of directors over the last week, both highly qualified individuals and former Homestake Mining Company personnel with impressive curriculum vitas.

The full review and valuation commentary may be found at http://miningmarketwatch.net/amg.htm online.

Excerpts: In addition to 43-101 compliant 666,000 ounces of gold and 385 million pounds of copper resource at their 100% owned Pinaya property located in Peru, Am Gold Inc. (TSX-V: AMG) (US Listing: ACERF) is expected soon, to release a 43-101 resource estimate on their 100% owned Red Mountain gold project located within the Tintina Gold Belt, Yukon. AM Gold's Red Mountain gold project is in close proximity to and share the same geological belt as Underworld and several very large multi-million oz gold type bulk tonnage open-pit world class deposits including gold producer Kinross's Fort Knox mine and International Tower's 12M oz discovery. With ~38M shares outstanding (~$18M market cap), and trading under $0.60 cents, shares of AMG.V now offer one of the best vehicles for investors seeking serious intrinsic value and strong growth prospects on two fronts;
 
Red Mountain gold project within the Tintina Gold Belt, Yukon: The project is in the same geological belt as Underworld and several very large multi-million oz gold type bulk tonnage open-pit world class deposits including gold producer Kinross's Fort Knox mine and International Tower's 12M oz discovery. The project contains a large aeromagnetic anomaly and AM Gold Corporation anticipates expenditures in excess of CDN$2 million on the Red Mountain property this summer targeting the buried intrusive structure.
 
100% owned Pinaya gold-copper deposit in Peru: The project contains a NI 43-101 compliant 666,000 ounces of gold and 385 million pounds of copper resource and also possesses near term open pit mine potential at Pinaya. The Pinaya gold-copper project possesses very large bulk tonnage potential.

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. The term special situation advisory and/or investment advisory refers to the fact the reader is being advised there is a publication on an item that is also an investment, and not advice to buy or sell. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL.

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James O'Rourke
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