AMG

AM Gold Inc. (TSX VENTURE:AMG)(FRANKFURT:AMX) ("AM Gold" or the "Company")
announces the results of the recently completed geophysical surveys at the
Company's Pinaya gold copper-silver project. The surveys outlined 19 EM
anomalies indicative of sulphide mineralization, within a wider area of moderate
chargeability and lower magnetic response interpreted as altered volcanic or
intrusive rocks.


Neil Downey, VP of Exploration, comments: "These results indicate size and depth
continuity to the alteration we have mapped and sampled at surface, and will
provide a useful guide to the forthcoming exploration program. There is a strong
correlation between the existing drilling and geophysical signatures and
additional targets throughout the property as well as potential for expansion of
the resource both laterally and at depth. The existing geophysical signature
indicates that the three resource zones designated the NW Porphyry, the Western
Porphyry, and the Gold Oxide Skarn zone (as per news releases dated May 12,
2011, June 2, 2011, June 6, 2011) are adjoined at depth and expansive laterally.
The presence of the high sulphidation epithermal Au-Ag-Cu mineralized zones
remote from the resource area substantiates the potential to expand the current
resource on the property." Mr. Downey further noted, "The geophysics combined
with surface geochemistry has confirmed the 4 mineralized zones surrounding the
resource area as primary drill targets. An additional 3 drill targets have been
outlined on the southern portion of the property. We have defined 4 anomalous
areas in the northern portion of the property for detailed follow up to outline
drill targets." See the maps appended to this news release for further details
on the geophysical survey. 


The helicopter borne ZTEM geophysical program targeted disseminated and
semi-massive copper sulphide mineralization to a depth of up to 1,500 metres.
The ZTEM results, from 1,358 line kilometers of survey at 200 metre line
spacing, indicate the presence of multiple porphyry targets at depth. A 2D
inversion over the resource area has indicated an apparent intrusive with deep
roots. The survey also indicates that this feature is open to the North and
South along with associated alteration of sediments to the east. The survey
shows a large NNW-SSE trend of relatively high background resistivity and low
magnetics through the center of the property. Four priority conductor target
areas with co-incident surface soil/rock Cu-Ag-Au geochem anomalies and
associated mapped porphyry outcrops have been outlined within this major tend
(see the maps appended to this news release). Additional 2D inversions will be
completed in the anomalous zones to provide detailed modeling for upcoming drill
programs.


The Pinaya gold copper-silver project is located within the prolific Tertiary
Volcanic Andahuaylas-Yauri Belt of southern Peru. The AM Gold land package,
within the heart of the tightly held area, is surrounded by BHP Billiton, Teck,
Newmont, Vale, IAM Gold, Orion, and a number of smaller mining companies.
Goldfields and Buenaventura are also prominent in the area with their recent
discovery of Chucapaca. Mapping by AM Gold in 2011 at Pinaya yielded additional
widespread alteration, brecciation, vein stockworking and high level porphyry
outcrops correlating to the existing resource and indicative of the presence of
porphyry systems at depth. Completion of surface rock and soil geochemistry work
over the southern portion of the property identified several new zones with
anomalous copper and associated silver and gold values. The observed epithermal
Cu-Ag-Au mineralization is typical of that proximal to porphyry systems.


Geotech Airborne Geophysical Surveys, with head offices in Aurora Ontario,
conducted the helicopter borne ZTEM survey. Preliminary reports were prepared by
Ali Lartrous and Jean Legault P.GEO, P.Eng of Geotech Ltd. Kyle T. Grey,
Consulting Geologist of Reno Nevada completed a review for AM Gold.


Dr. Stewart Jackson P Geol, a Qualified Person as defined by National Instrument
43-101 Standards of Disclosure for Mineral Projects, is responsible for the
preparation and verification of the technical information in this release.


About AM Gold Inc.

AM Gold Inc. is a publicly held resource company based in Vancouver, Canada. The
Company is listed on the TSX Venture Exchange under the symbol "AMG" and is
quoted on the Frankfurt Exchange under the symbol "AMX". The Company is focused
on creating shareholder value through the development of the Company's gold and
gold-copper projects in the Yukon and Peru while building a portfolio of quality
pipeline projects in North and South America. The Company's Red Mountain gold
property is located in central Yukon Territory approximately 55 kilometres
northwest of the community of Mayo in the Tintina Gold Belt. The Company's Red
Mountain gold property consists of approximately 3,600 hectares of contiguous
quartz claims. 52 of such quartz claims (1,168 hectares) are held 80% by the
Company with an option to acquire 100% ownership and are subject to a net
smelter returns royalty and 131 quartz claims (2,430 hectares) are held 100% by
the Company. AM Gold's Pinaya gold-copper project is located approximately 775
kilometres southeast of the city of Lima, Peru in the Tintaya Gold Belt. The
Company maintains 100% ownership of 35 mining concessions covering the 19,200
hectare Pinaya land position. AM Gold's corporate offices are located Suite 605
- 369 Terminal Avenue, Vancouver, British Columbia, V6A 4C4 (phone:
604-646-0067).


ON BEHALF OF AM GOLD INC.

John Fiorino, Chief Executive Officer

AM GOLD INC.

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this press release are forward-looking
statements and information within the meaning of applicable securities laws.
Forward-looking statements and information can be identified by the use of words
such as "expects", "intends", "is expected", "potential", "suggests" or
variations of such words or phrases, or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be taken, occur
or be achieved. Forward-looking statements and information are not historical
facts and are subject to a number of risks and uncertainties beyond the
Company's control. Actual results and developments are likely to differ, and may
differ materially, from those expressed or implied by the forward-looking
statements contained in this news release. Accordingly, readers should not place
undue reliance on forward-looking statements. The Company undertakes no
obligation to update publicly or otherwise revise any forward-looking
statements, except as may be required by law.


To view the maps associated with this press release, please visit the following
link: http://media3.marketwire.com/docs/amg-0510-images.pdf.

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