SOURCE: Amador Gold Corp.

May 15, 2008 09:30 ET

Amador Gold Corp.: Private Placement

VANCOUVER, BC--(Marketwire - May 15, 2008) - Amador Gold Corp. (TSX-V: AGX) is pleased to announce that it has arranged a private placement for up to 3,000,000 units. The financing will consist of non-flow through units priced at $0.25 per non flow-through unit. Each of the units will consist of one non-flow through common share and one non-flow through non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of two years at a price of $0.30 per share. Once resale restrictions on the shares have expired and upon the Company's shares trading at or above a weighted average trading price of $1.00 for 30 consecutive trading days the Company may give notice that the Warrants will expire 30 days from the date of providing such notice in writing to Warrant holders and via a news release.

In accordance with Exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval. The proceeds of the private placement will be used for general working capital, exploration on the Company's Ontario properties, current property payments and new acquisitions.

About Amador Gold

Amador Gold is well positioned to discover and capitalize on world class gold, silver, platinum, palladium and diamond deposits. During the last couple of years the Company has strategically accumulated large land packages in existing mining or mineral districts such as the Abitibi in Ontario. The Company's assets are entirely within Canada with a strong focus in Ontario. These properties have existing infrastructure and are often within road access to metallurgical facilities to process mined ores.

On Behalf of the Board of Directors

/s/ Richard Hughes

Richard W. Hughes, President

This document contains certain forward-looking statements which involve known and unknown risks, delays and uncertainties not under the corporation's control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward-looking statements.

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

Contact Information

  • For Further Information Contact:
    The Hughes Exploration Group
    Phone: (604) 685-2222
    visit Amador's web-site: to see Smartstox interviews
    with Company President