Aguila American Gold Announces Closing of Non-Brokered Private Placement

Vancouver, British Columbia – March 24, 2016: Aguila American Gold Limited (“Aguila” or the “Company”) (TSX-V: AGL) Mr. John Huguet, President and CEO, is pleased to announce the closing of the private placement announced by the Company on February 8, 2016. A total of 3,428,600 units, at a price of $0.035 per unit, will be issued to raise gross proceeds of $120,001. Each unit comprises one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional share for a term of five years from the closing date at a price of $0.05 per share. Finder’s fees of 175,000 units are payable on a portion of the private placement. The finder’s fee units have the same terms as the private placement units.

All securities issued will be subject to a four month hold period from the date of closing.

Proceeds of the financing will be used for working capital for operations in Peru and corporate costs in Canada.

ON BEHALF OF THE BOARD,

“John Huguet”

John Huguet President and CEO

Aguila American Gold Limited

Aguila American Gold Limited is an emerging gold exploration company with an experienced executive management team focused on advancing and developing their prospective gold project, Angostura. Angostura is located 180 kilometres southwest of city of Cuzco, in the Department of Apurimac, southwestern Peru. Angostura is located in a prolific mineral trend, approximately 25 kilometres from the Las Bambas Mine, a major mining project being developed in the area.

For more information visit www.aguilagold.com

Aguila American Gold Limited

Tel: (604) 685 9316 Fax: (604) 683 1585 http://www.aguilagold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.