Aguila Grants Stock Options

NEWS RELEASE - OCTOBER 21, 2011

Aguila Grants Stock Options

Aguila American Gold Ltd. (TSX VENTURE: AGL or “Aguila American”) announces the granting of stock options to its directors, officers, employees and consultants, for the purchase of up to 916,000 shares, at a price of $0.45 per share, for three years.

About Aguila American Gold Ltd.

Aguila American Gold Ltd. is an emerging gold exploration company, with an experienced geological and executive management team focused on advancing and developing their flagship prospective gold project; Angostura. Angostura is located 180 kilometers southwest of city of Cuzco, in the Department of Apurimac, southwestern Peru. Angostura is located in a prolific mineral trend, approximately 25km from the Las Bambas Mine, a $4.5 billion mineral production project being developed by Xstrata Mining Pty.

For more information visit; www.aguilaamerican.ca , or contact Aguila directly;

Aguila American Gold Ltd.

Office: (604) 669-9330 Toll free 1 (866) 669-9377 Fax: (604) 669-9335 [email protected]

We seek safe Harbor.

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.