Q1-2022 net income of $15.5 million, earnings per share of $0.09 (Cdn$0.11)
EBITDA1 of $26.4 million, free cash flow to equity1 of $17.9 million
Dividend of Cdn$0.03 per share payable on June 20, 2022

VANCOUVER, BRITISH COLUMBIA – May 4, 2022/Amerigo Resources Ltd. (TSX: ARG; ARREF: OTC) (“Amerigo” or the “Company”) is pleased to announce financial results for the three months ended March 31, 2022 (“Q1-2022”). Dollar amounts in this news release are in U.S. dollars unless indicated otherwise.
Amerigo’s quarterly financial results included net income of $15.5 million, earnings per share (“EPS”) of $0.09 (Cdn$0.11), EBITDA1 of $26.4 million and free cash flow to equity (“FCFE”)1 of $17.9 million.
“We are pleased to report a robust start to the year for Amerigo. We met our copper production and cash cost targets, and our average quarterly copper price increased to $4.64 per pound”, said Aurora Davidson, Amerigo’s President and CEO. “Amerigo’s Board of Directors has declared a quarterly dividend of Cdn$0.03 per share. The Company’s dividend policy combines the strength of sustainable and reliable quarterly dividends, with the flexibility of top-up dividends that can be declared anytime to distribute additional surplus cash to shareholders. We remain comfortable with a targeted minimum corporate cash balance of $20.0 to $25.0 million and our normal course issuer bid remains in place”, added Ms. Davidson.
On May 2, 2022, Amerigo’s Board of Directors declared a quarterly dividend of Cdn$0.03 per share, payable on June 20, 2022, to shareholders of record as of May 30, 2022. Amerigo designates the entire amount of
this taxable dividend to be an “eligible dividend” for purposes of the Income Tax Act (Canada), as amended
from time to time. Based on the March 31, 2022 share closing price of Cdn$1.84, this would represent an annual dividend yield 6.52%.
This news release should be read in conjunction with Amerigo’s interim consolidated financial statements
and Management’s Discussion and Analysis (“MD&A) for Q1-2022, available at the Company’s website at www.amerigoresources.com