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Aguila American GOLD Announces Private Placement

Financings

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AGUILA AMERICAN GOLD ANNOUNCES PRIVATE PLACEMENT

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION,

DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE

UNITED STATES.

Vancouver, British Columbia – September 23, 2021: Aguila American Gold Limited (“Aguila” or the

“Company”) (TSX-V: AGL ) (OTCQB: AGLAF) (WKN: A2DR6E) announces a non -brokered private

placement financing (the “Offering”) of up to 3,000,000 units of the Company (the "Units") at an issue price of

Cdn$0.20 per Unit (the “ Issue Price”) for gross proceeds of up to Cdn$ 600,000. Each Unit comprises one

common share and one-half of one common share purchase warrant (a “Warrant”). Each Warrant entitles the

holder to purchase one additional common share of the Company at an exercise price of Cdn$0.30 for a period

of three years from closing of the Offering.

All securities to be issued pursuant to the Offering will be subject to a four -month hold period under applicable

securities laws in Canada.

The Company intends to use the net proceeds received from the Offering for exploration on the Company’s North

American copper and gold exploration properties and for working capital and general corporate purposes. Finder’s

fees may be payable on a portion of the Offering. The Offering is subject to certain conditions including, but not

limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any

sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The

securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended

(the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or

sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under

the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or

pursuant to an exemption from such registration requirements.

About Aguila American Gold Ltd (TSX.v: AGL) (OTC: AGLAF) (WKN: A2DR6E)

Aguila American Gold is an emerging copper and precious metal company enhancing shareholder value through

exploration and discovery.

ON BEHALF OF THE BOARD,

“Mark Saxon”

Mark Saxon

President & CEO

For further information, please contact:

aguila.gold

1305 – 1090 West Georgia St., Vancouver, BC, V6E 3V7

[email protected]

Neither the 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.

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Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward -looking information. Forward looking statements are

often, but not always, identified by the use of words such as "seek", "anticipate ”, "plan", "continue”, "estimate”, "expect",

"may”, "will", "intend", "could", "might", "should", "believe" and similar expressions. Forward -looking statements are

based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in

certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations

reflected in such forward -looking statements are based upon reasonable assum ptions, and that information obtained from

third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers

are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially

from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those

projected in the forward-looking statements. When relying on forward -looking statements to make decisions, investors and

others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such

forward-looking statements. The Company does not undertake to update any forward -looking statements, except as may be

required by applicable securities laws.