Amerigo’s MVC Phase Two Expansion Project Starts Producing Concentrates

September 5, 2018

N.R. 2018- 08

Amerigo’s MVC Phase Two Expansion Project Starts Producing Concentrates

Vancouver, British Columbia – September 5, 2018/CNW/ - Amerigo Resources Ltd. ("Amerigo" or the

"Company") (TSX: ARG) is pleased to report that commissioning o f the new rougher flotation circuit has

commenced on the Phase Two Expansion Project at Minera Valle Ce ntral ("MVC"), the Company’s 100%

owned operation located near Rancagua, Chile.

Copper concentrates from the new flotation circuit are being processed in the existing cleaner flotation circuit.

Construction of the new cleaner flotation circuit is expected to be complete this month. Construction of MVC’s

new molybdenum circuit is expected to be complete in October.

Copper production is increasing, and unit costs are dropping in accordance with the Company’s guidance.

In 2018, Amerigo expects to produce 65 to 70 million pounds of copper at a cash cost of $1.45 to $1.60 per

pound. MVC’s Phase Two Expansion will increase MVC’s copper pro duction to 85 to 90 million pounds per

year and lower cash cost to $1.45/lb.

About Amerigo and MVC

Amerigo Resources Ltd. is an innovative copper producer with a long-term partnership with Corporación

Nacional del Cobre de Chile (“Codelco”), the world’s largest copper producer.

Amerigo produces copper concentrate at the MVC operation in Chi le by processing fresh and historic tailings

from Codelco’s El Teniente mine, the world's largest undergroun d copper mine. Tel: (604) 681-2802; Fax:

(604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX.

For further information, please contact:

 Rob Henderson, President and CEO (604) 697-6203

 Aurora Davidson, Executive Vice-President and CFO (604) 697-6 207

Page 2

Cautionary Note Regarding Forward-Looking Information

This news release contains certa in forward-looking information and statements as defined in applicable securities laws (collec tively referred to as

"forward-looking statements"). These statements relate to futur e events or the Company’s future performance. All statements ot her than statements

of historical fact are forward-looking statements. The use of any of the words "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project",

"predict", "potential", "should" , "believe" and similar express ions is intended to identify forward-looking statements. Althou gh the Company believes

that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies

which are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure that it will achi eve or accomplish the

expectations, beliefs or projections described in the forward-looking statements. These forward-looking statements involve known and unknown risks,

uncertainties and other factors t hat may cause actual results o r events to differ materially from those anticipated in such st atements. These forward-

looking statements include but are not limited to, statements concerning:

 a forecasted increase in production and a reduction in operati ng costs;

 our strategies and objectives;

 the expected improvement of flotat ion recovery efficiency from the Phase Two expansion;

 our estimates of the availability and quantity of tailings, an d the quality of our mine plan estimates;

 prices and price volatility for copper and other commodities and of materials we use in our operations;

 the demand for and supply of cop per and other commodities and materials that we produce, sell and use;

 sensitivity of our financial results and share price to change s in commodity prices;

 our financial resources and our expected ability to meet our o bligations for the next 12 months;

 interest and other expenses;

 domestic and foreign laws affecting our operations;

 our tax position and the tax rates applicable to us;

 the timing and costs of constr uction and tolling/production of , and the issuance and maintenance of the necessary permits and other

authorizations required for, our expansion projects, including the expansion for the Cauquenes deposit and the timing of ramp- up to full

production from Cauquenes;

 our ability to procure or have access to financing and to comp ly with our loan covenants;

 the production capacity of our operations, our planned product ion levels and future production;

 potential impact of production an d transportation disruptions;

 hazards inherent in the mining industry causing personal injury or loss of life, severe damage to or destruction of property and equipment,

pollution or environmental damage, claims by third parties and suspension of operations

 our planned capital expenditure s (including our plan to upgrade our existing plant and operations) including the timing and cost of completion

of our capital projects;

 estimates of asset retirement obligations and other costs related to environmental protection;

 our future capital and production costs, including the costs and potential impact of complying with existing and proposed environmental laws

and regulations in the operation and closure of our operations;

 repudiation, nullification, modification or renegotiation of c ontracts;

 our financial and operating objectives;

 our environmental, health and safety initiatives;

 the outcome of legal proceedings and other disputes in which we may be involved;

 the outcome of negotiations concerning metal sales, treatment charges and royalties;

 disruptions to the Company's in formation technology systems, including those related to cybersecurity;

 our dividend policy; and

 general business and economic conditions.

Inherent in forward-looking statements are risks and uncertainties beyond our ability to predict or control, including risks that may affect our operating

or capital plans; risks generally encountered in the permitting and development of mineral projects such as unusual or unexpec ted geological

formations, negotiations with government and other third parties, unanticipated metallurgical difficulties, delays associated with permits, approvals and

permit appeals, ground control probl ems, adverse weather condit ions, process upsets and equipm ent malfunctions; risks associat ed with labour

disturbances and availability of skilled labour and management; fluctuations in the market price s of our principal commodities , which are cyclical and

subject to substantial price fluctuations; risks created through competition for mining projects and properties; risks associa ted with lack of access to

markets; risks associated with availability of and our ability to obtain both tailings from Codelco’s Division El Teniente’s current production and historic

tailings from tailings deposit; risks with respect to completion of all phases of the Cauquenes expansion, the ability of the Company to draw down funds

from bank facilities and lines of credit, the availability of a nd ability of the Company to obtain adequate funding on reasona ble terms for expansions

and acquisitions, including all phases of the Cauquenes expansi on; mine plan estimates; risks posed by fluctuations in exchang e rates and interest

rates, as well as general economic conditions; risks associated with environmental compliance and changes in environmental legislation and regulation;

risks associated with our dependence on third parties for the p rovision of critical services; ri sks associated with non-perfor mance by contractual

counterparties; title risks; social and political ri sks associated with operations in foreign countries; risks of changes in laws affecting our operations or

their interpretation, including foreign exchange controls; and risks associated with tax reassessments and legal proceedings. Many of these risks and

uncertainties apply not only to the Company and its operations, but also to Codelco and its operations. Codelco’s ongoing mini ng operations provide

a significant portion of the materials the Company processes an d its resulting metals production, therefore these risks and un certainties may also

affect their operations and in turn have a material effect on the Company.

Page 3

Actual results and developments are likely to differ, and may d iffer materially, from those expressed or implied by the forwar d-looking statements

contained in this news release. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to,

assumptions about:

 general business and economic conditions;

 interest rates;

 changes in commodity and power prices;

 acts of foreign governments and the outcome of legal proceedin gs;

 the supply and demand for, deliveries of, and the level and vo latility of prices of copper and other commodities and products used in our

operations;

 the ongoing supply of material fo r processing from Codelco’s current mining operations;

 the ability of the Company to profitably extract and process m aterial from the Cauquenes tailings deposit;

 the timing of the receipt of and retention of permits and othe r regulatory and governmental approvals;

 the availability of and ability of the Company to obtain adequ ate funding on reasonable terms for expansions and acquisitions, Including all

phases of the Cauquenes expansion;

 the ability of the Company to draw down funds from bank facili ties and lines of credit;

 our costs of production and our production and productivity levels, as well as those of our competitors;

 changes in credit market conditi ons and conditions in financial markets generally;

 our ability to procure equipment and operating supplies in suf ficient quantities and on a timely basis;

 the availability of qualified employees and contractors for ou r operations;

 our ability to attract and retain skilled staff;

 the satisfactory negotiation of collective agreements with uni onized employees;

 the impact of changes in foreign exchange rates and capital repatriation on our costs and results;

 engineering and construction time tables and capital costs for our expansion projects;

 costs of closure of various operations;

 market competition;

 the accuracy of our preliminary economic assessment (including with respect to size, grade and recoverability) and the geolog ical,

operational and price assumptions on which these are based;

 tax benefits and tax rates;

 the outcome of our copper concentrate sales and treatment and refining charge negotiations;

 the resolution of environmental and other proceedings or dispu tes;

 the future supply of reasonably priced power;

 our ability to obtain, comply with and renew permits and licen ses in a timely manner; and

 our ongoing relations with our employees and entities with whi ch we do business.

Future production levels and cost estimates assume there are no adverse mining or other events which significantly affect budgeted production

levels.

We caution you that the foregoing list of important factors and assumptions is not exhaustive. Other events or circumstances c ould cause our actual

results to differ materially from those estimated or projected and expressed in, or implied by, our forward-looking statements . Except as required by

law, we undertake no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, whether as a result

of new information or future events or otherwise.