1

DRILLING AND TRENCHING RESULTS Mara Rosa Property, Brazil (as at April 30, 2021)

AMARILLO GOLD CORPORATION Drill and trenching results from Mara Rosa (as at April 30, 2021) | 1

ABOUT THIS DOCUMENT This document consolidates the drilling and trenching results from the regional exploration program at Amarillo’s Mara Rosa Property in Brazil. Pastinho, our most prospective target, is presented first, followed by results from Araras and Speti 24. Information is current as of April 30, 2021.

Pastinho

TABLE 1: SUMMARY OF COMPOSITE INTERVALS GRADING MORE THAN 0.2 G/T GOLD CUT-OFF (2019-2020)

Holes Azimuth Dip From (metres)

To (metres)

Gold intervals Estimated true width (metres)

20P106 125 -60 154.00 155.00 1 m at 0.22 g/t 1.00

165.00 166.00 1 m at 0.62 g/t 1.00

20P107 125 -60 100.00 101.00 1 m at 0.22 g/t 1.00

103.00 104.00 1 m at 0.24 g/t 1.00

119.00 128.00 9 m at 0.31 g/t 9.00

131.00 132.00 1 m at 0.62 g/t 1.00

146.00 148.00 2 m at 0.26 g/t 2.00

162.50 165.00 2.5 m at 0.35 g/t 2.50

226.00 227.00 1 m at 0.57 g/t 1.00

20P108 125 -60 94.00 95.00 1 m at 1.26 g/t 1.00

133.00 134.00 1 m at 10.00 g/t 1.00

142.00 143.00 1 m at 0.38 g/t 1.00

153.00 155.00 2 m at 3.60 g/t 2.00

20P109 125 -59 97.00 105.00 8 m at 0.83 g/t 8.00

140.00 147.50 7.5 m at 0.49 g/t 7.50

157.50 160.00 2.5 m at 0.21 g/t 2.50

20P110 125 -59 66.00 73.00 7 m at 0.64 g/t 7.00

76.00 78.00 2 m at 0.90 g/t 2.00

82.00 86.00 4 m at 0.25 g/t 4.00

AMARILLO GOLD CORPORATION Drill and trenching results from Mara Rosa (as at April 30, 2021) | 2

TABLE 2: TRENCHING RESULTS (2020)

Trench number Number of

samples Gold

structure From (metres)

To (metres)

Length (metres)

Gold grade (g/t)

20TCH001 96 1 23.00 43.00 20.00 1.034

2 55.00 59.00 4.00 0.320

20TCH002 92 1 23.00 34.00 11.00 0.950

2 54.00 58.00 4.00 0.222

20TCH003 98 1 31.00 41.00 10.00 1.220

2 44.00 55.00 11.00 0.341

3 72.00 80.00 8.00 0.196

4 83.00 84.00 1.00 0.705

5 94.00 95.00 1.00 0.246

20TCH004 89 1 20.90 26.00 5.10 3.265

2 39.00 43.00 4.00 0.271

3 52.00 53.00 1.00 0.491

4 55.00 56.00 1.00 5.435

5 65.00 66.00 1.00 7.275

20TCH005 99 1 31.20 39.10 7.90 1.524

2 50.00 52.00 2.00 0.242

3 60.00 63.00 3.00 0.544

4 68.00 71.00 3.00 0.388

5 80.00 82.00 2.00 1.070

20TCH006 76 1 53.30 56.00 2.70 0.919

20TCH007 66 1 58.00 59.80 1.80 0.393

20TCH007A 32 1 0.00 19.00 19.00 1.431

20TCH008 62 1 47.00 55.65 8.65 0.918

20TCH008A 30 1 22.00 23.00 1.00 1.642

20TCH009 110 1 7.00 24.00 17.00 1.461

2 29.00 31.00 2.00 0.280

3 43.10 43.90 0.80 0.686

AMARILLO GOLD CORPORATION Drill and trenching results from Mara Rosa (as at April 30, 2021) | 3

Araras

TABLE 3: SUMMARY OF COMPOSITE INTERVALS GRADING MORE THAN 0.2 G/T GOLD CUT-OFF (2019-2020)

Hole Azimuth Dip From

(metres) To (metres)

Gold intervals Estimated true width (metres)

19P096 140 -58 52.00 56.00 4 m at 0.22 g/t 4.00

60.00 61.00 1 m at 0.75 g/t 1.00

63.00 64.00 1 m at 0.26 g/t 1.00

84.00 85.00 1 m at 0.31 g/t 1.00

19P097 140 -60 53.00 54.00 1 m at 0.42 g/t 1.00

74.00 75.00 1 m at 0.69 g/t 1.00

81.00 88.00 7 m at 1.22 g/t 7.00

95.00 97.00 2 m at 0.20 g/t 2.00

102.50 107.50 5 m at 0.41 g/t 5.00

19P098 140 -60 30.00 31.00 1 m at 0.20 g/t 1.00

64.00 73.00 9 m at 0.25 g/t 9.00

88.00 89.00 1 m at 0.24 g/t 1.00

19P099 140 -60 8.00 9.00 1 m at 0.48 g/t 1.00

100.00 102.00 2 m at 0.26 g/t 2.00

142.50 147.50 5 m at 0.47 g/t 5.00

162.50 165.00 2.5 m at 0.42 g/t 2.50

170.00 174.14 4.14 m at 0.23 g/t 4.14

19P100 140 -60 43.00 45.00 2 m at 0.27 g/t 2.00

75.00 76.00 1 m at 0.20 g/t 1.00

87.50 92.50 5 m at 0.47 g/t 5.00

100.00 102.50 2.5 m at 2.00 g/t 2.50

112.50 115.00 2.5 m at 0.43 g/t 2.50

AMARILLO GOLD CORPORATION Drill and trenching results from Mara Rosa (as at April 30, 2021) | 4

TABLE 4: SUMMARY OF COMPOSITE INTERVALS GRADING MORE THAN 0.2 G/T GOLD CUT-OFF (2012)

Hole Azimuth Dip From (metres)

To (metres)

Gold intervals in metres (m)

Estimated true width (metres)

12P037 142 -60 26.00 27.00 1 m at 0.71 g/t 1.00

73.00 74.00 1 m at 0.43 g/t 1.00

107.00 108.00 1 m at 0.33 g/t 1.00

141.00 142.00 1 m at 0.42 g/t 1.00

12P038 143 -57 81.00 86.00 5 m at 3.02 g/t 5.00

12P044 143 -59 26.00 27.00 1 m at 0.22 g/t 1.00

38.00 40.00 2 m at 0.47 g/t 2.00

47.00 49.00 2 m at 0.32 g/t 2.00

51.00 55.00 4 m at 0.22 g/t 4.00

12P045 142 -60 9.00 10.00 1 m at 2.35 g/t 1.00

63.00 64.00 1 m at 0.28 g/t 1.00

73.00 75.00 2 m at 1.77 g/t 2.00

93.00 97.00 4 m at 3.92 g/t 4.00

112.50 117.50 5 m at 0.35 g/t 5.00

12P046 90 -49 66.00 69.00 3 m at 0.34 g/t 3.00

71.00 73.00 2 m at 1.28 g/t 2.00

95.00 98.00 3 m at 0.68 g/t 3.00

AMARILLO GOLD CORPORATION Drill and trenching results from Mara Rosa (as at April 30, 2021) | 5

Speti 24

TABLE 5: SUMMARY OF COMPOSITE INTERVALS GRADING MORE THAN 0.2 G/T GOLD CUT-OFF (2019-2020)

Holes Azimuth Dip From (metres)

To (metres)

Gold intervals

Estimated true width (metres)

20P101 125 -50

16.00 17.00 1 m at 0.20 g/t 1.00

96.00 97.00 1 m at 0.29 g/t 1.00

175.00 182.50 7.5 m at 0.77 g/t 7.50

187.50 192.50 5 m at 0.42 g/t 5.00

20P102 125 -50 167.00 177.33 10.33 m at 0.27 g/t 10.33

20P103 125 -59 37.50 40.00 2.5 m at 1.20 g/t 2.50

20P104 125 -59

242.00 243.00 1 m at 0.26 g/t 1.00

262.00 263.00 1 m at 0.28 g/t 1.00

285.00 287.50 2.5 m at 0.23 g/t 2.50

20P105 125 -61 42.50 45.00 2.5 m at 0.30 g/t 2.50

162.50 165.00 2.5 m at 0.38 g/t 2.50

20P111 125 -60

2.00 3.00 1 m at 0.24 g/t 1.00

7.00 9.00 2 m at 1.14 g/t 2.00

61.00 62.00 1 m at 0.22 g/t 1.00

66.00 67.00 1 m at 0.41 g/t 1.00

70.00 79.00 9 m at 0.47 g/t 9.00

AMARILLO GOLD CORPORATION Drill and trenching results from Mara Rosa (as at April 30, 2021) | 6

QUALIFIED PERSON

Michael Durose, P.Geo., Consulting Geologist for Amarillo Gold Corp. and a qualified person as defined by Canadian National Instrument 43-101, has reviewed and approved the scientific and technical information relating to the Mara Rosa regional exploration program in this MD&A.

QUALITY ASSURANCE AND QUALITY CONTROL

Sample handling, preparation and analysis are monitored through the implementation of formal chain-of-custody procedures and quality assurance/quality control programs designed to follow industry best practices.

Trench channel samples were taken at 1 metre intervals and placed in a secure sample bag and submitted to ALS Laboratories Inc. in Goiania, Goiás State, Brazil for preparation by crushing to 70% passing 2.0 mm, riffle splitting to obtain 500 g aliquots, and pulverizing to 85% passing 75 microns.

All drillhole samples in this drilling program consist of split NQ diamond drill core.

Drillcore is logged and sampled in a secure facility located in Mara Rosa, Goiás State, Brazil. Drillcore samples for gold assay are cut in half using a diamond saw and submitted to ALS Laboratories Inc. in Goiania, Goiás State, Brazil for preparation by crushing to 70% passing 2.0 mm, riffle splitting to obtain 500 g aliquots, and pulverizing to 85% passing 75 microns.

Pulps are shipped to ALS Laboratories in Lima, Peru and analyzed by a 30 g fire assay and AAS finish. For assays above 10 ppm gold, a cut of the original pulp was re-assayed with a gravimetric finish.

Certified standards, non-certified blanks and field duplicates are inserted into the sample stream at regular intervals, so that QA/QC accounted for about 10% of the total samples. Results are routinely evaluated for accuracy, precision, and contamination.

Contact information Mike Mutchler President & CEO 416-294-0736 mike.mutchler@amarillogold.com Annemarie Brissenden Investor Relations 416-844-6284 annemarie.brissenden@amarillogold.com