Mr. Rob Henderson reports

AMERIGO ANNOUNCES 2016 SECOND QUARTER PRODUCTION RESULTS

Amerigo Resources Ltd. has released production results for the second quarter of 2016 from Minera Valle Central (MVC), the company's operation located near Rancagua, Chile.

Operational highlights for Q2 2016

In Q2 2016, MVC produced 14.4 million pounds of copper at a cash cost of $1.65 per pound, pursuant to a tolling agreement with Codelco's Division El Teniente and a toll-processing agreement with Minera Maricunga.

Quarterly copper production is at a record level and is 57 per cent higher than Q2 2015. This is due to good performance from the historic Cauquenes deposit, despite adverse weather conditions in April which reduced fresh tailings tonnage from El Teniente. In third quarter 2016, the ramp-up in production should continue to improve and unit costs should continue to decrease as higher-quality Cauquenes material is extracted from deeper zones. Rob Henderson, Amerigo's president and chief executive officer, stated, "Development of the Cauquenes deposit is a game-changing milestone for MVC, and the company is well positioned to take advantage of future increases in the copper price."

                    SUMMARY OF PRODUCTION RESULTS FOR THE MOST RECENT FIVE QUARTERS 
   
                                                 Q2 2016     Q1 2016     Q4 2015    Q3 2015     Q2 2015
Fresh tailings
Tonnes processed                              10,620,849  10,617,420  11,269,785 11,243,557  12,120,700
Copper grade                                      0.117%      0.117%      0.111%     0.117%      0.115%
Copper recovery                                   21.3 %       19.2%       21.1%      24.2%       20.4%
Copper produced (millions of pounds)               5.640       5.270       5.853      7.011       6.248
Historic tailings
Tonnes processed                               5,149,732   5,087,765   4,319,838    812,934   3,073,039
Copper grade                                      0.224%      0.228%      0.221%     0.223%      0.222%
Copper recovery                                   32.2 %       26.4%       19.4%      17.1%       17.2%
Copper produced (millions of pounds)               8.191       6.734       4.097      0.684       2.593
Maricunga toll processing
Copper produced (millions of pounds)               0.524       0.851       0.909      0.794       0.276
Total copper produced (millions of pounds)        14.355      12.855      10.860      8.494       9.117
Total copper delivered (millions of pounds)       14.509      12.746      10.737      8.288       9.395
Cash cost ($/pound copper)                         $1.65       $1.82       $2.16      $2.07       $2.15

Release of financial results for Q2 2016

The company will release Q2 2016 financial results at market open on Wednesday, Aug. 10, 2016, followed by an investor conference call on Thursday, Aug. 11, 2016, at 11 a.m. PT/2 p.m. ET.

Conference call participation

To participate in the call, please dial 1-866-223-7781 (toll-free North America) and let the operator know you wish to participate in the Amerigo Resources conference call. Media are invited to attend on a listen-only basis. Following management's discussion of the quarterly results, the analyst and investment community will be invited to ask questions.

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