VANCOUVER, British Columbia, March 30, 2017 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (TSX:ARG) ("Amerigo" or the "Company") is pleased to announce that it has filed a technical report (the "Report") prepared for Minera Valle Central, S.A. ("MVC"), Amerigo's Chilean subsidiary in conjunction with Amerigo's intention to commence the Cauquenes Phase Two Expansion project ("Phase Two"). Phase Two is planned to improve flotation recovery efficiency and expand the existing facilities to an output of 85 to 90 million pounds of copper per year. Phase Two is expected to be completed in the second half of 2018 at an estimated cost of US$30 million.

Robert D. Henderson, P. Eng, President and CEO of Amerigo, is the author of the Report and is responsible for the technical comments related to the resource estimate and its parameters. Mr. Henderson is a "qualified person" for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and has verified the data disclosed in this release. He has also prepared the information that forms the basis for the disclosure in this release, and he has approved the disclosure in this release.

In 2016, MVC produced a record of 56.8 million pounds of copper. MVC's plant is located approximately 90 kilometres south of Santiago, Chile and has been in operation since 1992. MVC processes tailings from the current production of the El Teniente mine ("Fresh Tailings") and tailings from the historic Cauquenes tailings deposit. El Teniente is the world's largest underground copper mine and has been in production since 1904.

In Mr. Henderson's opinion, there is sufficient geological and economic evidence to conclude that MVC's contracts for the processing of Fresh Tailings, and tailings from the Cauquenes and Colihues tailings impoundments (collectively, the "Fresh, Cauquenes and Colihues Tailings"), constitute an inferred mineral resource. Historical records of El Teniente's mill tailings represent a detailed account of the tonnage and grade of material stored in the Cauquenes and Colihues impoundments. A total of 30 holes have been drilled on the Cauquenes deposit in four separate campaigns. MVC has a long operating record of economic extraction of copper and molybdenum from El Teniente's tailings and MVC's December 2016 development plan presents an economic assessment of producing 1,461 million pounds of copper and 38 million pounds of molybdenum over the period 2017 to 2037.

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