VANCOUVER, Oct. 5 /CNW/ - Amerigo Resources Ltd. (TSX:ARG) ("Amerigo")
announces that it has entered into an agreement to sell a total of 31,812,500
common shares and 11,532,000 share purchase warrants of Chariot Resources
Limited ("Chariot") to Rio Narcea Gold Mines Ltd. for $0.65 per common share
and $0.30 per share purchase warrant. Total proceeds of the sale are
$24,137,725, which represents a gain to Amerigo of $ 9,679,857 and a return of
approximately 68% over the seven month period since acquisition.
Closing is scheduled to occur on or before October 20, 2006.
Amerigo Resources Ltd. is a Canadian junior company producing copper and
molybdenum from its MVC operations near Santiago, Chile. Tel: (604) 681-2802;
Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX
The Toronto Stock Exchange has not reviewed nor accepted responsibility
for the adequacy or accuracy of the contents of this news release, which
has been prepared by management. Statements contained in this news
release that are not historical facts are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements are subject to risks and
uncertainties which could cause actual results to differ materially from
estimated results. Such risks and uncertainties are detailed in the
Company's filings with the TSX and on SEDAR. Forward-looking statements
are based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. The Company undertakes no
obligation to update these forward-looking statements if management's
beliefs, estimates or opinions, or other factors, should change.
