Drill moved onto the Loveland Property & Spin Off Update
Vancouver, British Columbia CANADA, April 07, 2008 /FSC/ - Amador Gold Corp. (AGX - TSX Venture, ADRGF - OTCBB_Pink_Sheets), ("Amador") is pleased to announce that a drill is being moved this week onto the Loveland Property 35 km northwest of Timmins, Ontario where the Company intersected 45 meters of 0.75% copper and 0.70 % nickel. Significantly, this intercept is below an outlined resource of 130,000 tons grading 0.68% copper and 0.73% nickel, discovered by Cominco in the 1970s. The estimate is pre 43-101 and non-compliant.
The immediate drilling objective will be to increase the strike length of mineralization on the Discovery Zone. Additionally, the Company will be flying VTEM surveys and drilling to determine if the discovery zone is connected to the Hollinger deposit on the newly acquired Moneta Porcupine property 1.5 km to the southeast. The Hollinger deposit was drilled prior to 1975 and is reported to be 442,000 tons of 0.42% copper and 0.71% nickel. This is an historical resource that is non 43-101 compliant.
Spin Off Updated
Upon closing of the $3,000,000 financing announced March 19, 2008, the Company will meet the minimum listing requirements of the Exchange, which will enable it to complete the spinoff of its wholly owned subsidiary, Diamondcorp Resources Inc. Existing shareholders and placees, therefore, will receive shares of Diamondcorp Resources Inc. when the spinoff is completed. The Company anticipates effecting the spinoff upon completion of the financing. Amador Gold shareholders on the record date will receive one share of Diamondcorp Resources Inc. for every three Amador shares held.
About Amador
Amador Gold is well positioned to discover and capitalize on world class gold, silver, platinum, palladium, copper/nickel and diamond deposits. During the last few 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.
For further information contact: Alan Campbell, Hughes Exploration Group
Phone: (604) 685-2222
Or visit Amador's web-site: www.amadorgoldcorp.com to see Smartstox interviews with our Company Chairman and 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.
Amador Gold Corp. (AGX - TSX-V) (ADRGF - Pink Sheets)
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Ph: (403) 717-3898 Fx: (403) 717-3896 www.usetdas.com
