Amerigo Resources Ltd. - Reports Senior Management Changes

Vancouver, British Columbia -- (Marketwire) -- 12/17/10 -- Amerigo Resources Ltd. (TSX: ARG) ('Amerigo' or the 'Company') today announced that Robert Gayton, PhD., FCA has been appointed as chairman of the Company. Mr. Gayton is a long-time director of Amerigo and a number of other prominent resource companies. He replaces Steven Dean who has been chairman of the Company since 2003. The Company is also pleased to announce that Dr. Klaus Zeitler has been appointed Chief Executive Officer of the Company to serve in addition to his role as President. Dr. Zeitler financed, built and managed base metal and gold mines worldwide (Europe, Africa, North America, South America, Pacific) with a total investment value in excess of $4 billion.

Mr. Dean no longer serves on the Company's senior management team, but remains a director of the Company.


Amerigo Resources Ltd. produces copper and molybdenum under a long term partnership with the world's largest copper producer, Codelco, by means of processing fresh and old tailings from the world's largest underground copper mine, El Teniente near Santiago, Chile. Tel: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX



Certain of the information and statements contained herein that are not historical facts, constitute 'forward-looking information' within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ('Forward- Looking Information'). Forward-Looking Information is often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'expect' and 'intend'; statements that an event or result is 'due' on or 'may', 'will', 'should', 'could', or might' occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information contained herein includes, without limitation, information concerning future tailings production volumes and the Company's copper and molybdenum production, all of which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, material factors and assumptions relating to, and risks and uncertainties associated with, the supply of tailings from El Teniente and extraction of tailings from the Colihues tailings impoundment, the achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean economy, military unrest or terrorist actions, metal price fluctuations, favourable governmental relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and competition for future mineral acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described under Risk Factors in the Company's Annual Information Form dated March 31, 2008, and in each subsequent Management's Discussion and Analysis.

Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals, including copper and molybdenum, and future tailings production volumes and the Company's copper and molybdenum production.. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, interruptions in the supply of fresh tailings from El Teniente, further delays in the extraction of tailings from the Colihues tailings impoundment, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.



Contacts:

Amerigo Resources Ltd.
Dr. Klaus Zeitler
President & CEO
(604) 218-7013

Amerigo Resources Ltd.
(604) 697-6201
(604) 682-2802 (FAX)
www.amerigoresources.com