Aguila Announces Share Consolidation

AGUILA ANNOUNCES SHARE CONSOLIDATION

Vancouver, British Columbia, May 12th, 2017 - Aguila American Gold Limited (“Aguila” or the “Company”)

(TSX-V: AGL) announces that further to its news release dated April 28, 2017, the TSX Venture Exchange

has approved the Company’s alteration to its share structure by consolidating all of the Company’s issued

and outstanding common shares on the basis of one (1) new co mmon share for ten (10) old common

shares, effective May 17, 2017. The share consolidation will reduce the 23,249,949 shares of the Company

currently issued and outstanding to approximately 2,324,994 shares. No fractional shares will be issued.

Any fraction of a share will be rounded down to the nearest whole number of common shares.

ON BEHALF OF THE BOARD,

“Nick DeMare”

Nick DeMare,

Interim President & CEO

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.