Aguila American Announces Non-Brokered Private Placement

AGUILA AMERICAN ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia – May 21, 2020: Aguila American Gold Limited (“Aguila” or the

“Company”) (TSX-V: AGL) announces that the Company has arranged a non -brokered private placement

financing to raise gross proceeds of up to $300,000 by issuing u p to 3,000,000 units, at a price of $ 0.10 per

unit, with each unit comprising one common share and one -half of a share purchase w arrant. Each whole

warrant entitles the holder to purchase an additional common share at a price of $ 0.13 for two years. The

proceeds will be used for general working capital. Insiders will participate in this financing.

The private placement is subje ct to the acceptance for filing by the TSX Venture Exchange. All securities

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

ON BEHALF OF THE BOARD,

“Nick DeMare”

Nick DeMare

Interim CEO and CFO

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.