Amador Gold

Multi-Metal Company Exploiting Prominent Ontario Regions Significant new gold discovery on surface at Loveland (11.48 g\t gold) over 400 meters away from the only other known gold zone (6.37 g/t over 8.55 m & 10.39 g/t over 3.1 m)

almost 16 years ago

Amador Gold Corp. is pleased to announce assay results on the Kell Mine property exploration drill program. The Kell Mine property is located in Corkill Township, approximately 18 km southeast of Gowganda, Ontario, and hosts silver-cobalt-nickel mineralization in a series of en-echelon quartz-calcite veins in a deformation zone averaging three to eight metres wide. The Company conducted magnetic and electromagnetic surveys across the vein, and drilled 17 holes totalling 2270m, testing the Kell vein along strike and at shallow depths.

The exploration program successfully identified areas of silver enrichment along the Kell Mine deformation zone, with drill hole AGKL07-08 returning 2,401 g/t silver over 1.73m, from 36.72m to 38.45m down hole. The silver is hosted in a quartz-calcite-chlorite vein zone in altered diabase, where silver is found in both veining and wall rock. The intersection returned a higher-grade sample of 4,580.4 g/t silver over 0.53m, from 36.72 to 37.25 as well as 3.574.5 g/t silver over 0.40m from 37.25m to 37.65m.

Drilling also intersected 262 g/t silver, over 8.63m in drill hole AGKL07-04, from 57.54m to 66.17m down hole. The silver mineralization is found in pervasively calcite altered diabase with chlorite in which veinlets and stringers of calcite-quartz +/- magnetite +/- chlorite up to 36cm in width host silver-cobalt-nickel mineralization. Native silver grains run to 0.5mm in size, with minor grains of argentite noted as well. This interval also returned a higher-grade value of 2,410.6 g/t silver over 0.92m from 62.34m to 63.26m down hole. All the silver was within the envelope of alteration hosted within the envelope of deformation.

“Finding good grade silver in quartz-calcite veins, in the deformation zone, and in Nipissing diabase wall rock is very encouraging”, said Amador Gold Corp CEO Richard Hughes, “and we look forward to further detailed exploration.”

Area History

The Kell Mine deformation zone was discovered in 1909. The deformation zone is hosted in Nipissing diabase, consistent with mineralization at mines in the Gowganda silver camp, where approximately 60 million ounces of silver were mined in the early part of the 1900s. In 1920-21, a shaft was driven to 104 feet, with two exploration levels at the 54-foot and 100-foot levels. Some 700 feet north of the shaft, a pit was dug, as well as prospecting pits to the south of the shaft. A small shipment of 1,558 lbs of rock gave 1,620.9 ounces of silver.

Complete Assay Results Drill Hole Survey Data

The exploration program was conducted by Amador Gold Corp., under the supervision of Douglas Robinson, P. Eng. Mr. Robinson is the qualified person for this project. He has read this release and approved its contents.

Additional Notices

The company has completed an initial evaluation and has decided to terminate its option agreement related to the Sheridan property.

Further to the Company's private placement news release of September 29, 2008, Amador Gold Corp. (TSX-V: AGX); the financing is amended to consist of flow-through and non-flow through units priced at $0.10 per unit. Each of the units will consist of one flow through or non-flow through common share and one non-flow through non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of two years at a price of $0.15 per share. In accordance with Exchange policies, finders' fees may be paid on a portion of the funds raised. The private placement is subject to regulatory approval.

About Amador Gold

Amador Gold is well positioned to discover and capitalize on world class gold, silver, platinum, palladium, copper/nickel and diamond deposits. During the past several years the Company has strategically accumulated large land packages in existing mining or mineral districts in Ontario thereby ensuring the Company's assets are entirely within Canada. All of Amador Gold's properties are close to existing infrastructure and are often within road access to metallurgical facilities.

CONTACT INFORMATION

Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations (604) 685-2222 or info@amadorgold.com, or visit our website www.amadorgoldcorp.com for more information.

AGORACOM Investor Relations: Email: AGX@agoracom.com
Website: http://www.agoracom.com/ir/Amador

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.