Aguila Provides Corporate Update

AGUILA PROVIDES CORPORATE UPDATE

Vancouver, British Columbia, April 28th, 2017 - Aguila American Gold Limited (“Aguila” or the “Company”)

(TSX-V: AGL) - Mr. Nick DeMare, interim CEO, provides this corporate update with respect to its properties

in Peru. After detailed consideration, a decision has been made to record an impairment charge against the

carrying values of the Company’s properties in Peru. There is significant uncertainty with respect to the

Company’s ability to maintain the assets and, accordingly, a decision has been made that these assets in

Peru will not be the focus of the Company. The Company will be seeking other investment opportunities

outside of Peru.

In this regard the Board of Directors has approved an alteration to the Company's share structure by

consolidating all of the Company’s issued and outstanding common shares on the basis of one (1) new

common share for ten (10) old new common share s. 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. The above share consolidation is subject to TSX Venture Exchange approval and will be

effected upon receipt of such approval.

Management believes that the share consolidation is necessary to provide the Company with a share

structure that will better attract capital financing and that will provide for future growth opportunities.

ON BEHALF OF THE BOARD,

“Nick DeMare”

Nick DeMare,

Interim 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.