Acquisition of Additional Common Shares of Chariot Resources Limited

VANCOUVER, July 7 /PRNewswire-FirstCall/ -- Amerigo Resources Ltd. (TSX:ARG) announces that it has acquired beneficial ownership of an additional 5,169,500 common shares (the "Additional Shares") of Chariot Resources Limited ("Chariot"). Amerigo now currently owns 31,812,500 common shares of Chariot and 11,532,000 share purchase warrants (the "Warrants") of Chariot. The additional 5,169,500 common shares of Chariot represent 2.145% of Chariot's 240,990,540 issued and outstanding common shares, and Amerigo's aggregate holdings in Chariot represent 17.986% of Chariot's issued and outstanding common shares (in both cases, assuming the exercise of the Warrants).

All but 220,000 of the Additional Shares were acquired through the facilities of the Toronto Stock Exchange. The 220,000 shares were purchased in a private transaction on February 16, 2006, 94,500 at $0.38 and 125,500 at $0.37. Amerigo has purchased the Additional Shares in Chariot for investment purposes. Amerigo believes in the potential of Chariot and its Marcona Copper Project in Southern Peru. Amerigo is supportive of Chariot's Board and Management and hopes that it can make a contribution to the successful development of this project. Amerigo may acquire beneficial ownership of additional securities of Chariot in the future.

Amerigo Resources Ltd. is a Canadian copper and molybdenum producing company with operations near Santiago, Chile. Tel: [phone]; Fax: [phone]; Web: http://www.amerigoresources.com/; Listing: ARG:TSX

The Toronto Stock Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. Statements contained in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the TSX and on SEDAR. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

CONTACT: Michael J. Kuta, General Counsel & Secretary, Amerigo Resources Ltd., [phone]