Amador Gold Intersects Silver at Kell Property Gowganda, Ontario: Financial News

Amador Gold Intersects Silver at Kell Property Gowganda, Ontario
Monday October 6, 2008 7:02 pm ET

VANCOUVER, BC--(MARKET WIRE)--Oct 6, 2008 -- Amador Gold Corp. (CDNX:AGX.V - News) is pleased to announce assay results on the Kell Mine property exploration drill program. The Kell Mine property is located in Corkill Township, approximately 18 km southeast of Gowganda, Ontario, and hosts silver-cobalt-nickel mineralization in a series of en-echelon quartz-calcite veins in a deformation zone averaging three to eight metres wide. The Company conducted magnetic and electromagnetic surveys across the vein, and drilled 17 holes totalling 2270m, testing the Kell vein along strike and at shallow depths.

The exploration program successfully identified areas of silver enrichment along the Kell Mine deformation zone, with drill hole AGKL07-08 returning 2,401 g/t silver over 1.73m, from 36.72m to 38.45m down hole. The silver is hosted in a quartz-calcite-chlorite vein zone in altered diabase, where silver is found in both veining and wall rock. The intersection returned a higher-grade sample of 4,580.4 g/t silver over 0.53m, from 36.72 to 37.25 as well as 3.574.5 g/t silver over 0.40m from 37.25m to 37.65m.

 
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Drill Hole AGKL07-08
2,401 G/T SILVER OVER 1.73M INCLUDING 0.52M OF 4580.4 G/T
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Drill Hole AGKL07-04
262 G/T SILVER OVER 8.63M INCLUDING 0.92M OF 2410.6 G/T
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Drilling also intersected 262 g/t silver, over 8.63m in drill hole AGKL07-04, from 57.54m to 66.17m down hole. The silver mineralization is found in pervasively calcite altered diabase with chlorite in which veinlets and stringers of calcite-quartz magnetite chlorite up to 36cm in width host silver-cobalt-nickel mineralization. Native silver grains run to 0.5mm in size, with minor grains of argentite noted as well. This interval also returned a higher-grade value of 2,410.6 g/t silver over 0.92m from 62.34m to 63.26m down hole. All the silver was within the envelope of alteration hosted within the envelope of deformation.

"Finding good grade silver in quartz-calcite veins, in the deformation zone, and in Nipissing diabase wall rock is very encouraging," said Amador Gold Corp. CEO Richard Hughes, "and we look forward to further detailed exploration."

Area History

The Kell Mine deformation zone was discovered in 1909. The deformation zone is hosted in Nipissing diabase, consistent with mineralization at mines in the Gowganda silver camp, where approximately 60 million ounces of silver were mined in the early part of the 1900s. In 1920-21, a shaft was driven to 104 feet, with two exploration levels at the 54-foot and 100-foot levels. Some 700 feet north of the shaft, a pit was dug, as well as prospecting pits to the south of the shaft. A small shipment of 1,558 lbs of rock gave 1,620.9 ounces of silver.

 
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Complete Assay Results
Drill Hole From  To    Width Silver Width Silver
           (m)   (m)   (m)   (g/t)  (ft)  oz/T
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AGKL07-01                    NSV
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AGKL07-02                    NSV
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AGKL07-03  77.26 82.80 5.54  5.0    18.2  0.15
================================================
AGKL07-04  57.24 66.17 8.63  262.0  28.3  7.62
including  62.34 63.26 0.09  2410.6 3.0   70.12
================================================
AGKL07-05  50.99 60.23 9.24  12.0   30.3  0.35
including  55.17 58.78 3.61  23.0   11.8  0.67
add        58.08 58.36 0.28  31.0   0.9   0.90
================================================
AGKL07-06  56.99 61.84 4.85  2.0    15.9  0.06
================================================
AGKL07-07  56.05 63.36 7.31  5.0    24.0  0.15
================================================
AGKL07-08  36.72 38.45 1.73  2401.6 5.7   69.85
including  36.72 37.25 0.53  4580.4 1.7   133.23
add        37.25 37.65 0.40  3574.5 1.3   103.97
add        37.65 38.00 0.35  372.2  1.1   10.83
add        38.00 38.45 0.45  370.0  1.5   10.76
================================================
AGKL07-09  62.53 65.34 2.99  15.0   9.8   0.44
================================================
AGKL07-10  54.82 59.08 4.26  136.0  14.0  3.96
and        63.85 68.35 4.50  31.0   14.8  0.90
================================================
AGKL07-11  13.10 23.22 10.12 22.8   33.2  0.66
and        16.57 17.00 0.43  200.2  1.4   5.82
including  19.90 20.15 0.25  55.8   0.8   1.62
including  20.68 21.30 0.62  41.2   2.0   1.20
including  22.73 23.22 0.49  82.1   1.6   2.39
================================================
AGKL07-12  13.19 25.79 12.6  6.0    41.3  0.17
================================================
AGKL07-13  24.36 33.05 8.69  4.1    28.5  0.12
================================================
AGKL07-14  55.84 60.50 4.66  20.0   15.3  0.58
================================================
AGKL07-15  41.97 46.70 4.73  16.0   15.5  0.47
================================================
AGKL07-16  54.10 59.71 5.61  7.0    18.4  0.20
================================================
AGKL07-17  73.60 80.56 6.96  4.0    22.8  0.12
================================================
AGKL07-18  68.19 69.58 1.39  20.0   4.6   0.58
================================================
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Drill Hole Survey Data
Drillhole Easting Northing Elevation Azimuth Dip    Depth(m)
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AGKL07-01 526559  5261456  413       203     -45.0  150.87
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AGKL07-02 526105  5262104  399       60      -45.7  223.00
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AGKL07-03 526281  5261600  400       59      -45.0  248.00
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AGKL07-04 526303  5261617  407       64      -42.0  125.00
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AGKL07-05 526315  5261596  407       65      -45.0  125.00
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AGKL07-06 526298  5261639  416       59      -45.0  125.00
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AGKL07-07 526270  5261658  411       60      -45.0  124.94
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AGKL07-08 526243  5261714  395       64       43.3  125.00
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AGKL07-09 526311  5261570  419       66.5    -45.0  124.90
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AGKL07-10 526351  5261537  433       60.5    -45.0  123.17
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AGKL07-11 526517  5261411  418       145     -45.0  100.95
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AGKL07-12 526517  5261411  418       120     -45.0  49.84
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AGKL07-13 526520  5261406  414       145     -45.0  49.93
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AGKL07-14 526390  5261512  400       59      -43.0  119.56
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AGKL07-15 526206  5261820  397       60      -45.0  76.67
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AGKL07-16 526413  5261478  416       56.5     43.3  128.80
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AGKL07-17 526300  5261581  402       64.5    -45.0  124.93
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AGKL07-18 526223  5261704  408       51.5    -45.0  124.40
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The exploration program was conducted by Amador Gold Corp., under the supervision of Douglas Robinson, P. Eng. Mr. Robinson is the qualified person for this project. He has read this release and approved its contents.

Additional Notices

The company has completed an initial evaluation and has decided to terminate its option agreement related to the Sheridan property.

Further to the Company's private placement news release of September 29, 2008, Amador Gold Corp. (CDNX:AGX.V - News); the financing is amended to consist of flow-through and non-flow through units priced at $0.10 per unit. Each of the units will consist of one flow through or non-flow through common share and one non-flow through non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of two years at a price of $0.15 per share. In accordance with Exchange policies, finders' fees may be paid on a portion of the funds raised. The private placement is subject to regulatory approval.

About Amador Gold

Amador Gold is well positioned to discover and capitalize on world class gold, silver, platinum, palladium, copper/nickel and diamond deposits. During the past several years the Company has strategically accumulated large land packages in existing mining or mineral districts in Ontario thereby ensuring the Company's assets are entirely within Canada. All of Amador Gold's properties are close to existing infrastructure and are often within road access to metallurgical facilities.

 
CONTACT INFORMATION
Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations
(604) 685-2222 or info@amadorgold.com,
or visit our website http://www.amadorgoldcorp.com for more information.

#711-675 WEST HASTINGS STREET
VANCOUVER, B.C., CANADA  V6B 1N2
TELEPHONE:  604-685-2222
FAX:  604-685-3764
WWW.AMADORGOLDCORP.COM

AGORACOM Investor Relations:  Email: AGX@agoracom.com
Website: http://www.agoracom.com/ir/Amador

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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