Amerigo Announces Q1 2010 Production Results and Dates for Release of Q1 2010 Results and Investor Conference Call

VANCOUVER, BRITISH COLUMBIA, Apr 22 (MARKET WIRE) --
Amerigo Resources Ltd. (TSX: ARG) ("Amerigo" or the
"Company") is pleased to announce production results for the
first quarter of 2010 from Minera Valle Central ("MVC"), the
Company's operations located near Rancagua, Chile. For the three months
ended March 31, 2010 MVC produced 8.59 million pounds of copper and
143,371 pounds of molybdenum.

Key operating and sales metrics are shown below.

----------------------------------------------------------------------------

Production Metrics: Q1-2009 Q2-2009 Q3-2009 Q4-2009 Q1-2010
----------------------------------------------------------------------------
Copper Production (million lbs) 7.12 9.61 10.12 12.12 8.59
----------------------------------------------------------------------------
Molybdenum Production (lbs) 97,184 99,683 151,310 246,636 143,371
----------------------------------------------------------------------------
Ore milled (Tonnes 000's) 10,859 12,292 12,889 13,576 11,582
----------------------------------------------------------------------------
Copper Grade (%) 0.12 0.14 0.14 0.15 0.144
----------------------------------------------------------------------------
Copper Recovery (%) 24.78 24.51 26.03 27.00 23.4
----------------------------------------------------------------------------
Molybdenum Grade in copper
concentrates (%) 0.49 0.44 0.59 0.73 0.56
----------------------------------------------------------------------------
Molybdenum Recovery (%) 80.77 69.53 74.13 82.59 85.70
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Sales Metrics: Q1-2009 Q2-2009 Q3-2009 Q4-2009 Q1-2010
----------------------------------------------------------------------------
Copper sales (Million lbs) 7.12 9.49 10.19 12.59 8.50
----------------------------------------------------------------------------
Copper price at end of period
($US/lb) 1.83 2.27 2.79 3.33 3.56
----------------------------------------------------------------------------
Prior period copper sales subject
to final pricing during period
(Million lbs) 7.91 10.10 N/A(1) 1.41 2.15
----------------------------------------------------------------------------
Average final settlement price
for prior period copper sales
($US/lb) 1.5032 2.1153 N/A(1) 2.8522 3.2872
----------------------------------------------------------------------------
Company's Recorded Copper
Price(2) 1.82 2.06 2.43 2.79 3.20
----------------------------------------------------------------------------
Molybdenum sales (lbs) 101,661 92,065 147,894 252,761 137,094
----------------------------------------------------------------------------
Molybdenum price at end of period
($US/lb) 8.325 10.125 14.125 11.230 17.18
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Power Costs (per kwh) $0.1468 $0.1247 $0.0989 $0.0963 $0.1579
----------------------------------------------------------------------------
(1) Although the Company's Q3-2009 copper production was being priced on the
basis of M+1, production was behind delivery quotas therefore all copper
production in Q3-2009 was finally priced.
(2) Copper price recorded for the Company's financial statements for the
quarter before smelter and refinery charges and settlement adjustments
to prior periods' sales and after hedging.

Amerigo's president, Dr. Klaus Zeitler, stated, "Despite the
production interruption resulting from the massive 8.8 magnitude
earthquake that struck Chile in late February, copper production for
Q1-2010 set a new record for first quarter production. MVC produced 8.59
million pounds of copper in Q1-2010 compared to 7.12 million pounds in
Q1-2009. Molybdenum production was 143,371 pounds, substantially higher
than the 97,184 pounds produced in Q1-2009, but was also adversely
affected by the earthquake.

Processing of old tailings has been restored to pre-earthquake levels,
and will increase as MVC continues to move to its goal of 45,000 tonnes
per day, the maximum contractual rate."

The Company will also release Q1-2010 financial results at market open on
Wednesday, May 12, 2010 and will hold an investor conference call to
discuss the results on Thursday, May 13, 2010 at 8:30 am Pacific Daylight
Time/11:30 am Eastern Daylight Time.

To participate in the call, please dial the following number:

1-877-240-9772 (Toll-Free North America)

Please let the operator know you wish to participate in the Amerigo
Resources conference call.

Media are invited to attend on a listen-only basis.

Following management's discussion of the quarterly results, the analyst
and investment community will be invited to ask questions.

Amerigo Resources Ltd. produces copper and molybdenum under a long term
partnership with the world's largest copper producer, Codelco, by means
of processing fresh and old tailings from the world's largest underground
copper mine, El Teniente near Santiago, Chile. Tel: (604) 681-2802; Fax:
(604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX.

Certain of the information and statements contained herein that are not
historical facts, constitute "forward-looking information"
within the meaning of the Securities Act (British Columbia), Securities
Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking
Information"). Forward-Looking Information is often, but not always,
identified by the use of words such as "seek",
"anticipate", "believe", "plan",
"estimate", "expect" and "intend";
statements that an event or result is "due" on or
"may", "will", "should", "could",
or "might" occur or be achieved; and, other similar
expressions. More specifically, Forward-Looking Information contained
herein includes, without limitation, information concerning future
tailings production volumes and the Company's copper and molybdenum
production, all of which involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of the Company, or industry results, to be materially
different from any future results, performance or achievements expressed
or implied by such Forward-Looking Information; including, without
limitation, material factors and assumptions relating to, and risks and
uncertainties associated with, the supply of tailings from El Teniente
and extraction of tailings from the Colihues tailings impoundment, the
achievement and maintenance of planned production rates, the evolving
legal and political policies of Chile, the volatility in the Chilean
economy, military unrest or terrorist actions, metal price fluctuations,
favourable governmental relations, the availability of financing for
activities when required and on acceptable terms, the estimation of
mineral resources and reserves, current and future environmental and
regulatory requirements, the availability and timely receipt of permits,
approvals and licenses, industrial or environmental accidents, equipment
breakdowns, availability of and competition for future mineral
acquisition opportunities, availability and cost of insurance, labour
disputes, land claims, the inherent uncertainty of production and cost
estimates, currency fluctuations, expectations and beliefs of management
and other risks and uncertainties, including those described under Risk
Factors in the Company's Annual Information Form dated March 31, 2008,
and in each subsequent Management's Discussion and Analysis.

Such Forward-Looking Information is based upon the Company's assumptions
regarding global and Chilean economic, political and market conditions
and the price of metals, including copper and molybdenum, and future
tailings production volumes and the Company's copper and molybdenum
production. Among the factors that have a direct bearing on the Company's
future results of operations and financial conditions are changes in
project parameters as plans continue to be refined, interruptions in the
supply of fresh tailings from El Teniente, further delays in the
extraction of tailings from the Colihues tailings impoundment, a change
in government policies, competition, currency fluctuations and
restrictions and technological changes, among other things. Should one or
more of any of the aforementioned risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from any conclusions, forecasts or projections described in
the Forward-Looking Information. Accordingly, readers are advised not to
place undue reliance on Forward-Looking Information. Except as required
under applicable securities legislation, the Company undertakes no
obligation to publicly update or revise Forward-Looking Information,
whether as a result of new information, future events or otherwise.

Contacts:
Amerigo Resources Ltd.
Dr. Klaus Zeitler
President
(604) 681-2802, (604) 218-7013
(604) 682-2802 (FAX)
www.amerigoresources.com

Copyright 2010, Market Wire, All rights reserved.

-0-