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AM Gold Announces New CFO

December 14, 2012

AM Gold Inc. (TSX‐V: AMG; Frankfurt: AMX) ("AM Gold" or the "Company") is pleased to announce the appointment of Nick Corea as Chief Financial Officer ("CFO") effective December 14, 2012.

Mr. Corea is a Chartered Accountant in good standing with the Institute of Chartered Accountants of British Columbia and has over 9 years of accounting, auditing and tax experience. Mr. Corea was in public practice for over 4 years and articled with PricewaterhouseCoopers LLP, Staley Okada & Partners and The Newport Group Chartered Accountants. He currently holds positions with other publicly traded companies serving as the CFO for Laurentian Goldfields Ltd., the Financial Controller for Africo Resources Ltd. and the Financial Controller for BCGold Corp. Nick also holds a Bachelor of Technology in Accounting degree with the British Columbia Institute of Technology and a Diploma in Accounting with Capilano University. Mr. Corea has extensive experience with public equity fundraising, reverse takeover transactions and public company reporting.

Mr. Corea will be replacing Mark Lawson as CFO who resigned effective December 14, 2012. Mr. Lawson, due to a new business venture abroad which created time constraints, was unable to dedicate sufficient time to carry on in the current role of Director and CFO. The Company wishes to thank Mr. Lawson for his contribution and wishes him the best on his new venture Afrique Energy.

About AM Gold Inc.

AM Gold Inc. is a publicly held resource company based in Vancouver, Canada. The Company is listed on the TSX Venture Exchange under the symbol "AMG" and is quoted on the Frankfurt Exchange under the symbol "AMX". The Company is focused on creating shareholder value through the development of the Company's gold and gold‐copper projects in the Yukon and Peru while building a portfolio of quality pipeline projects in North and South America. The Company's Red Mountain property is located in central Yukon Territory approximately 55 kilometres northwest of the community of Mayo in the Tintina Gold Belt. The Company's Red Mountain property consists of approximately 3,600 hectares of contiguous quartz claims. 52 of such quartz claims (1,168 hectares) are held 80% by the Company with an option to acquire 100% ownership and are subject to a net smelter returns royalty and 131 quartz claims (2,430 hectares) are held 100% by the Company. AM Gold's Pinaya gold‐copper project is located approximately 775 kilometres southeast of the city of Lima, Peru in the Tintaya Gold Belt. Subject to the option and joint venture agreement between the Company and Rokmaster Resources Corp., the Company maintains 100% ownership of 35 mining concessions covering the 19,200 hectare Pinaya land position. AM Gold's corporate offices are located Suite 605 – 369 Terminal Avenue, Vancouver, British Columbia, V6A 4C4 (phone: 604‐646‐0067).


"John Fiorino"
John Fiorino
Chief Executive Officer

For further information on AM Gold, please contact Murray Caruth at 1‐604‐646‐0067 or by email at , or visit AM Gold's website at: http://amgold.ca.

Cautionary Statement Regarding "Forward‐Looking" Information

Some of the statements contained in this press release are forward‐looking statements and information within the meaning of applicable securities laws. Forward‐looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward‐looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward‐looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward‐looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward‐looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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