VANCOUVER, BRITISH COLUMBIA – July 25, 2023/Amerigo Resources Ltd. (TSX: ARG; OTCQX:
ARREF) (“Amerigo” or the “Company”) is pleased to announce that Minera Valle Central (“MVC”), the
Company’s 100% owned operation located near Rancagua, Chile has resumed normal operations. The MVC
plant was reconnected to Chile’s central power grid on July 21, 2023, enabling MVC to resume normal
operations processing fresh and historic Cauquenes tailings on July 22, 2023.
“We are pleased to resume normal operations at MVC. I am very proud of the swift response from all members
of our team in Chile, which allowed us to reconnect to the power grid as quickly as possible and minimize lost
production,” said Aurora Davidson, Amerigo’s President and CEO.
“We took this opportunity to make changes to our infrastructure in a way that should provide additional
protection to our operations from another event of this type. The disruption from this climatic event will impact
our second and third quarter results but have no lasting effect on Amerigo’s long-term business and the Company’s capital return strategy,” she added. “The quarterly dividend is secure.”
Full production operations resumed on July 22, 2023. As reported in the Company’s news release of July 12, 2023, Amerigo reduced its annual production guidance by 3% to 60.5 million pounds of copper due to the lost
production from the flooding. This revised copper production guidance remains in place, and Amerigo’s original guidance of 1.0 M lbs of molybdenum remains unchanged.

MVC lost its connection to the central power grid on June 23, 2023, when three high-voltage power towers owned by MVC collapsed following severe flooding from heavy rains in central Chile. This situation caused a
total power outage at MVC. Emergency power supplies took immediate effect to prevent any negative environmental impact from occurring.
MVC quickly secured a secondary power supply, which allowed the plant to process fresh tailings from El Teniente while repairs were completed. While the extensive repairs required to reconnect to the power grid
properly were underway, including installing seven new high-voltage towers, MVC successfully produced 90,000 lbs of copper per day from July 6 to July 21, substantially offsetting the negative production impact from
the flooding.
About Amerigo and Minera Valle Central (“MVC”)
Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile (“Codelco”), the world’s largest copper producer.
Amerigo produces copper concentrate, and molybdenum concentrate as a by-product at the MVC operation in Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world's largest
underground copper mine. Tel: (604) 681-2802; Web: www.amerigoresources.com; ARG:TSX; OTCQX:
ARREF. see & read more on
https://www.amerigoresources.com/_resources/news/nr-20230725.pdf