Amador Gold Corp.

Amador Gold Corp.

December 22, 2010 10:20 ET

Amador Gold Amends Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2010) - Amador Gold Corp. (TSX VENTURE:AGX) (the "Company") announces that subsequent to its news release of December 9, 2010 and subject to regulatory approval, it has amended the price of its brokered private placement of flow through shares from $0.20 to $0.25 per unit. Each $0.25 unit will consist of one flow through common share and one-half of one non-flow through, non-transferable share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.30 for a period of two years from closing the private placement.

The private placement consists of up to 4,000,000 units. The private placement and any modifications to it are subject to compliance with applicable securities laws and to receipt of regulatory approval. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange. A portion of this financing may be non-brokered with third party investors or brokers.

Proceeds of the financing will be used to undertake drill programs planned for the Company's highly prospective Dale Gold, Sewell, Horwood, Loveland and Silverclaim properties located in the Timmins, Ontario mining area. The Company will be announcing specific plans for each project shortly.

M Partners Inc. has been retained as lead agent in connection with the Offering and as financial advisor to explore strategic alternatives for the Company. M Partners are located in Toronto and Vancouver with over 25 professionals serving the needs of their institutional and retail clients.

About Amador Gold Corp

Amador holds a portfolio of mineral projects in mining-friendly Ontario, led by its flagship Loveland Gold Project near Timmins, where exploration and drilling programs currently underway are focused on gold and nickel-copper deposits. The Kell property has similar silver-cobalt-mineralization as the nearby historic Gowganda region, where approximately 60 million ounces of silver were mined in the early 1900s. Other Ontario projects with exploration potential include the Horwood, Maskooch, and Dale Gold, gold properties, and the Fripp nickel property.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

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

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