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Amarillo Gold Research Note written by Eric Zaunscherb of PI Financial.

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October 19, 2011

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“Amarillo Gold does not make any representations, warranties or guarantees, express or implied, regarding the compliance with securities legislation, accuracy, completeness, timeliness, non-infringement, or merchantability or fitness for a particular purpose or use of the information contained in the attached research report. Such information is not intended in any way to qualify, modify or supplement any information disclosed by Amarillo Gold under corporate or securities legislation of any jurisdictions applicable to Amarillo Gold. Readers are encouraged to review the public disclosure record of Amarillo Gold. Furthermore, the information in no way should be construed or interpreted as, or as a part of, an offering or solicitation to purchase any securities of Amarillo Gold. No obligation, responsibility or liability shall be incurred by Amarillo Gold or any of its officers, directors, employees or agents for any loss or damage whatsoever, whether incidental, special, indirect, consequential, punitive, exemplary, or for lost profits in connection with, caused by or arising from any delays, inaccuracies, errors or omissions in or infringement by, or from any use of, or reliance on the information contained in the research report. Amarillo Gold is providing the report to readers only as a convenience and this should not be construed as implying an endorsement, or verification of the information contained therein.”