AM Gold Inc.
TSX VENTURE : AMG
FRANKFURT : AMX

AM Gold Inc.

June 23, 2010 13:48 ET

AM Gold Inc.: Announces Changes to Board of Directors and Appointment of a New President and CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2010) - AM Gold Inc. (TSX VENTURE:AMG)(FRANKFURT:AMX) ("AM Gold" or the "Company") is pleased to announce that Mr. Mark Lawson has been appointed to the Company's Board of Directors replacing Peter MacLean.

Mr. Lawson is currently the President & CEO, Director of New Global Ventures International Ltd., a company listed on the TSX Venture Exchange. He is also a director of Bradenburg Metals Corp., Toro Resources Corp., Hunter Bay Minerals PLC, and EcoloCap Solutions Inc. Mr. Lawson worked as an investment banker with Morgan Stanley in New York from 2005 until 2008 where he was involved in the execution of over $6-billion worth of mergers and acquisitions, $8-billion worth of debt offerings, and $500-million of equity financings. Mr. Lawson was previously a director of a boutique corporate finance firm in Toronto, Canada. He received his bachelor of arts in statistical sciences from the University of Western Ontario and his MBA from The Richard Ivey School of Business, Univeristy of Western Ontario. Mr. Lawson was also a 1st round draft pick of the CFL Edmonton Eskimos.

Regarding his appointment, Mr. Lawson stated, "I am very excited to be part of the new AM Gold at a juncture where they have recently announced a 43-101 compliant resource at Red Mountain at 542,000 ounces of contained gold. The resource was based on only 9 drill holes and the potential for extension of the resource area has not been effectively closed in any direction. With the Company's 6,000 meter core program set to commence in just two weeks, the opportunity exists to expand this resource in the coming months."

The Company would like to thank Mr. MacLean for his valuable contribution during his tenure as a Board member.

The Company is also pleased to announce that Gerald M. Aberle has been appointed as President and Chief Executive Officer.

Mr. Aberle graduated in 1980 from South Dakota School of Mines and Technology with a Bachelor of Science Degree in Mining Engineering and has over 30 years of experience in the minerals industry, including 22 years with Homestake Mining Company at the Homestake Gold Mine at Lead, South Dakota. Mr. Aberle's mining background includes extensive engineering, operations management and project management experience.

Over the past 11 years, Mr. Aberle has consulted in the mining, underground construction and minerals exploration business for clients including Homestake Mining Co / Barrick Gold, the State of South Dakota and the University of Washington in connection with the planning and development of the National Science Foundation's National Deep Underground Science and Engineering Laboratory. In addition, Mr. Aberle has more than 15 years of private business experience in the United States, primarily in the land development and construction industries.

Regarding his appointment, Mr. Aberle stated, "I am very pleased to be joining AM Gold at a time when the Company is poised with the management and technical expertise to advance both the Pinaya gold-copper project in southern Peru and the Red Mountain gold project in the Yukon. It is a rare opportunity to conduct substantial programs at two properties, each with such tremendous potential. Planning and preparatory work for the 6000 meter diamond drill program at Red Mountain is progressing very well. I'm excited by the progress of our technical team and look forward to the commencement of drilling operations the first week in July."

Dr. Jackson will remain with the Company as an independent member of the Board of Directors. The Board would like to thank Dr. Jackson for his work over the past year.

This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.

On behalf of the Board:

"Michael C. Scholz"
___________________
Michael C. Scholz
Chairman and Director
AM GOLD INC.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Dr. Stewart Jackson, P.Geol., Director of AM Gold Inc., and a qualified person.

This news release has been prepared by management. This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or achievements implied by these forward looking statements. We seek safe harbor.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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