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Amerigo’s MVC Signs Collective Labor Agreement

Corporate Updates

October 28, 2022

N.R. 2022-10

Amerigo’s MVC Signs Collective Labor Agreement

3-year agreement to October 28, 2025

Agreement ensures operational continuity at MVC

VANCOUVER, BRITISH COLUMBIA – October 28, 2022/Amerigo Resources Ltd. (TSX: ARG; OTCQX:

ARREF) (“Amerigo” or the “Company”) is pleased to announce that on October 27, 2022, Minera Valle Central

("MVC"), the Company’s 100% owned operation located near Rancagua, Chile satisfactorily concluded

negotiations with its 198-member union.

The parties have entered into a new 3-year collective agreement with a term date to October 28, 2025.

“We are pleased to report that negotiations with MVC’s union of plant operators concluded satisfactorily, and a

new 3-year collective agreement is now in place,” said Aurora Davidson, Amerigo’s President and CEO. “We

look forward to another three-year period of meeting shared objectives with our fellow team members , and for

MVC to continue being an employer of choice in Chile,” she added.

About Amerigo and MVC

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

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

Amerigo produces copper concentrate and molybdenum concentrate as a by -product at the MVC operation in

Chile by processing fresh and historic tailings from Codelco’s El Teniente mine, the world's largest underground

copper mine. Tel: (604) 681-2802; Web: www.amerigoresources.com; Listing: ARG:TSX.

Contact Information

Aurora Davidson Graham Farrell

President and CEO Investor Relations

(604) 697-6207 (416) 842-9003

[email protected] [email protected]