Amerigo Announces 2016 Third Quarter Production Results

VANCOUVER, British Columbia, Oct. 19, 2016 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. ("Amerigo" or the "Company") (TSX:ARG) announced today production results for the third quarter of 2016 from Minera Valle Central ("MVC"), the Company's operation located near Rancagua, Chile.

Operational Highlights for Q3-2016:

In Q3-2016, MVC produced 16.0 million pounds of copper at a cash cost of $1.60 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 89% higher than Q3-2015, due to good performance from the historic Cauquenes deposit. MVC's production estimate for the year 2016 remains within original guidance at 55 to 60 million pounds of copper at an annual cash cost of $1.65 to $1.85/lb.

Rob Henderson, Amerigo's President and CEO, stated "We are pleased to have established a satisfactory three year labour agreement at MVC and operational focus will be on safely sustaining the level of copper production and continuing to reduce costs."

Summary of Production Results for the Most Recent Five Quarters:
  Q3-2016 Q2-2016 Q1-2016 Q4-2015 Q3-2015
Fresh tailings          
Tonnes processed   11,373,542     10,620,849     10,617,420     11,269,785     11,243,557  
Copper grade   0.113 %   0.117 %   0.117 %   0.111 %   0.117 %
Copper recovery   19.7 %   21.3 %   19.2 %   21.1 %   24.2 %
Copper produced (millions of pounds)   5.571     5.640     5.270     5.853     7.011  
Historic tailings          
Tonnes processed   5,435,474     5,149,732       5,087,765      4,319,838     821,301  
Copper grade   0.236 %   0.224 %   0.228 %   0.221 %   0.223 %
Copper recovery   34.4 %   32.2 %   26.4 %   19.4 %   17.1 %
Copper produced (millions of pounds)   9.756     8.191     6.734     4.097     0.689  
Maricunga toll processing          
Copper produced (millions of pounds)   0.700     0.524     0.851     0.909     0.794  
Total copper produced (millions of pounds)   16.028     14.355     12.855     10.860     8.494  
Total copper delivered (millions of pounds)   15.599     14.509     12.746     10.737     8.288  
Cash cost ($/pound copper)   1.60     1.65     1.82     2.16     2.07  

Release of Financial Results for Q3-2016:

The Company will release Q3-2016 financial results at market open on Wednesday, November 9, 2016, followed by an investor conference call on Thursday, November 10, 2016 at 11:00 am Pacific Standard Time/2:00 pm Eastern Standard Time. 

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