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File: AGLApr28_Peru update; consolidation.docx








AGUILA PROVIDES CORPORATE UPDATE

Vancouver, British Columbia, April 28th, 2017 - Aguila American Gold Limited ("Aguila" or the "Company") (TSX V: AGL) 
--->- Mr. Nick DeMare, interim CEO, provides this corporate update with respect to its properties in Peru.  After detailed
---> consideration, a decision has been made to record an impairment charge against the carrying values of the Company's p
--->roperties in Peru. There is significant uncertainty with respect to the Company's ability to maintain the assets and, 
--->accordingly, a decision has been made that these assets in Peru will not be the focus of the Company.  The Company wil
--->l be seeking other investment opportunities outside of Peru. 

In this regard the Board of Directors has approved an alteration to the Company's share structure by consolidating all
---> of the Company's issued and outstanding common shares on the basis of one (1) new common share for ten (10) old new c
--->ommon shares.  The share consolidation will reduce the 23,249,949 shares of the Company currently issued and outstandi
--->ng to approximately 2,324,994 shares. No fractional shares will be issued. Any fraction of a share will be rounded dow
--->n to the nearest whole number of common shares.  The above share consolidation is subject to TSX Venture Exchange appr
--->oval and will be effected upon receipt of such approval.  

Management believes that the share consolidation is necessary to provide the Company with a share structure that will 
--->better attract capital financing and that will provide for future growth opportunities.


ON BEHALF OF THE BOARD,

"Nick DeMare"

Nick DeMare, 
Interim CEO 



Neither 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.