AM Gold Releases Inferred Gold Resource, Red Mountain Project, Yukon Territory, Canada

- June 16th, 2010

AM Gold Inc. (TSX VENTURE:AMG)(FRANKFURT:AMX) announced that an updated NI 43-101 report has been prepared for the Company by Brian Leslie Cole, P.Geo., who is a Qualified Person under National Instrument 43-101, which includes an estimated Inferred Resource of 23.6 million tonnes grading 0.7g/t gold , approximately 542,000 troy ounces contained gold, for the Red Mountain property, Yukon Territory, Canada.

AM Gold Inc. (TSX VENTURE:AMG)(FRANKFURT:AMX) announced that an updated NI 43-101 report has been prepared for the Company by Brian Leslie Cole, P.Geo., who is a Qualified Person under National Instrument 43-101, which includes an estimated Inferred Resource of 23.6 million tonnes grading 0.7g/t gold , approximately 542,000 troy ounces contained gold, for the Red Mountain property, Yukon Territory, Canada.

The press release is quoted as saying:

Deposits of this type tend to have more vertical continuity than lateral. Hence, on the basis of the deepest hole, resource polygons were extrapolated to an elevation depth of 1,200m asl, or alternatively 275m on average below surface across the section suite.

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