Amerigo Announces Q2-2014 Production Results

Amerigo Resources Ltd. (TSX:ARG) ("Amerigo" or the "Company") announced today
production results for the second quarter of 2014 from Minera Valle Central
("MVC"), the Company's operations located near Rancagua, Chile. MVC produced
9.344 million pounds of copper, including copper produced pursuant to MVC's
tolling contract with Minera Maricunga, and 0.152 million pounds of molybdenum
during the three months ended June 30, 2014.


Rob Henderson, Amerigo's President and COO, stated, "Copper production in Q2 was
below target due to low grades for both fresh and old tailings. Sulphide content
in the fresh tailings was also low and negatively impacted recovery. Colihues
tonnage was on target during the quarter, however low grades have persisted for
longer than originally anticipated, as wet conditions in the Colihues extraction
zone have limited access to better grades located in deeper zones. MVC continued
to process lower grade old tailings from the upper portion of the zone deposited
by El Teniente during 2006-2007 when repairs were being made to the tailings
launder. We believe the grades of tailings processed will improve, but lower
grades for Colihues are expected to persist to the end of the year. As a result,
although we anticipate an improvement in production levels in H2-2014 guidance
is being revised to 40 million pounds of copper and 500,000 pounds of
molybdenum. MVC has provided termination notice to the Colihues mining
subcontractor and started processing old tailings directly as of July 1. This
and other cost reduction initiatives are expected to result in decreased costs
in the second half of the year. We maintain our 2014 cash cost guidance of $2.15
to $2.25/lb Cu."


Dr. Klaus Zeitler, Amerigo's Chairman and CEO, added, "The Company continues to
advance detailed engineering and has begun the major equipment procurement
process for the Cauquenes expansion project. As previously announced MVC has
received final environmental approval for the project and is in the process of
obtaining construction and other required permits. Discussions for financing,
concentrate sales, power supply and construction contracts for the expansion are
ongoing and expected to be finalized in the near future."


Key operating and sales metrics are shown below.



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Production Metrics:              Q2-2014  Q1-2014  Q4-2013  Q3-2013  Q2-2013
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Copper Production(million lbs)     9.344   10.186   12.254   11.035    9.550
----------------------------------------------------------------------------
Molybdenum Production (million                                              
 lbs)                              0.152    0.125    0.181    0.193    0.176
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Ore milled (Tonnes 000's)         14,091   12,497   14,164   14,604   13,464
----------------------------------------------------------------------------
Copper Grade (%)                   0.131    0.154    0.162    0.159    0.158
----------------------------------------------------------------------------
Copper Recovery (%)                 21.8     22.7     21.3     21.5     20.3
----------------------------------------------------------------------------
Power Costs (per kwh)             $0.090   $0.090   $0.112   $0.080   $0.086
----------------------------------------------------------------------------
Sales Metrics:                   Q2-2014  Q1-2014  Q4-2013  Q3-2013  Q2-2013
----------------------------------------------------------------------------
Copper Sales(1) (Million lbs)      9.322   10.177   12.595   10.856    9.437
----------------------------------------------------------------------------
Company's Recorded Copper Price                                             
 ($US/lb)(2)                        3.16     3.36     3.16     3.19     3.40
----------------------------------------------------------------------------
Molybdenum Sales (million lbs)     0.154    0.111    0.174    0.205    0.178
----------------------------------------------------------------------------
Company's Recorded Molybdenum                                               
 Price ($US/lb)                    13.33     9.93     9.67     9.41    11.00
----------------------------------------------------------------------------
( 1) Copper sales per the Company's records, which may differ from copper   
sales per the smelter.All differences between Company and smelter records   
for a quarter will be recorded as settlement adjustments in subsequent      
quarters until settled.                                                     
                                                                            
(2) Copper price recorded for the Company's financial statements for the    
quarter before smelter and refinery charges and settlement adjustments to   
prior quarters' sales. The Company calculates this number by dividing       
quarterly dollar sales as recorded in its financial statements (calculated  
based on copper deliveries per the smelter) over quarterly copper sales per 
the Company's own records.                                                  



Engineering for the Cauquenes expansion is progressing on schedule and MVC is in
the process of pre-qualifying EPC contractors to build the new facilities.


The Company will release Q2-2014 financial results at market open on Thursday
August 7, 2014 and will hold an investor conference call to discuss the results
on Friday August 8, 2014 at 11:00 am Pacific Standard Time/2:00 pm Eastern
Standard Time. 


To participate in the call, please dial the following number:

1-866-226-1792 (Toll-Free North America)

Please 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.


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
"expects", "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 the agreement for the
purchase by MVC of the processing rights for the Cauquenes tailings deposit,
extending the contract for the processing of Fresh Tailings to 2037 and
consolidating all contracts between MVC and DET (the "Master Agreement"),
completion of construction of the planned expansion of MVC's operations required
for the processing of old tailings from the historic Cauquenes tailings deposit
(the "Cauquenes Expansion"), 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 performance of the Master Agreement, the
receipt of adequate debt financing required for the Cauquenes Expansion, the
receipt of environmental approval to the Cauquenes expansion, the continued
supply of tailings from El Teniente and successful extraction of tailings from
the Cauquenes and Colihues tailings deposits, 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, 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 and in Management's Discussion and Analysis

in the Company's financial statements. 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
and Cauquenes tailings deposits, 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Amerigo Resources Ltd.
Dr. Klaus Zeitler
Chairman & CEO
(604) 218-7013


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