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Pinaya Optionee Rokmaster Discovers New Copper Area On Pinaya Project Peru

March 20, 2013

(March 20, 2013, Vancouver, B.C., Canada) – AM Gold Inc. (“AM Gold” or the “Company”) is pleased to announce that the  optionee of the Company’s Pinaya Gold-Copper Project, Rokmaster Resources Corp. (“Rokmaster”), has discovered a new zone on the project yielding results up to 2.91% copper and 36.0 grams per tonne (“g/t”) silver over 2.0 metres.

In a news release dated today’s date Rokmaster disclosed:

“Rock chip sample results from an argillic altered 300 x 400 metre area hosted by porphyritic andesites yielded highly anomalous copper and silver values. Mineralization includes fracture controlled malachite and chrysocolla associated with moderate to strong limonite oxidation. This new porphyry target is located on trend 10.5 km southwest of the Western Porphyry resource area (9.5 km from the nearest drill hole) and immediately southeast of the Saitocco Zone. Reconnaissance rock chip samples within the area contained up to 2.91 % copper with 36.0 g/t silver and 0.946 % copper with 120.0 g/t silver, over two metre sample widths in fractured host porphyritic andesites. All analytical work was carried out by ACME Analytical Laboratories Ltd., an ISO 9001 & ISO/IEC 17025 accredited laboratory in Vancouver, BC, Canada. More work is recommended for this zone, known as Plata Sur, including mapping, rock sampling, and trenching.

SITE WORK COMPLETED

  1. Results from 4,290 soil samples were received recently and are being compiled and interpreted.
     
  2. Additional property wide prospecting, geological mapping, soil and rock sampling were completed under the supervision of Pinaya Project Director, Kenneth Konkin, P. Geo.
     
  3. Generation of six high quality porphyry copper gold and oxide gold diamond drill targets on the Pinaya trend.

SITE WORK IN PROGRESS

  1. Preparation for submission of the 20 platform diamond drilling and trenching permit application, together with the Environmental Impact Statement and the Pinaya Community agreements, is near completion.
     
  2. Compilation of geological, geochemical, geophysical and historical drill data by the Pinaya technical team continues. The work includes:
     
    1. definition of the principal ore controls, geological host, alteration type and intensity.
       
    2. definition of the principal geological characteristics of the Tintaya, Antapaccay and Las Bambas deposits and compare these to Pinaya.  
       
    3. provision of general guidelines of the major lithologic types, structural relationships and alteration features of gold dominant low sulphidation and intrusive hosted copper-gold mineralized zones.”

Dr. Stewart Jackson, P. Geol.,  a director of the Company, and a Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained in this news release.
ABOUT AM GOLD

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).

On behalf of AM Gold Inc.

/s/“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 [email protected], 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 
     
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