Aguila Announces Former Ventana Gold Executive as CEO

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/08/12 -- Aguila American Gold Limited. ("Aguila") or (the "Company") (TSX VENTURE: AGL) announces that at its Annual General Meeting ("AGM") held November 7, 2012, shareholders elected Messrs. John Huguet, Nick DeMare, John Bortnak, Dusan Berka, Christopher Verrico and Blair Way as directors of the Company. The shareholders also passed all other resolutions including an ordinary resolution to ratify the existing stock option plan, pursuant to which the Company may grant stock options up to 10% of its issued and outstanding common shares at the time of the grant.

At a directors meeting held after the AGM, the directors appointed Mr. John Huguet as Chairman, Mr. Blair Way as President and Chief Executive Officer, Mr. Nick DeMare as Chief Financial Officer and Corporate Secretary and Mr. James McCrea as Vice-President, Exploration.

John Huguet states: "We are very pleased to have attracted Blair to this role. His management and interpersonal skills combined with his background and experience with mining projects in many different countries makes him well suited for leading this company to the next level."

Blair was most recently, Vice President, Project Director, member of the Executive Management Team, reporting to the CEO of Ventana Gold's LaBodega project in Colombia. Ventana was purchased by Ike Batista in 2009 for $1.5 billion. Prior to the success at the Ventana Gold Corp., Blair served as President and Project Director for Oceanagold Philippines on the Didipio Gold Copper project. Prior to that he was Project Manager Non Ferrous Group with Hatch Associates (Brisbane) where he provided project management support for various mining and metal related projects in Australia, South Africa, China, Papua New Guinea and South East Asia. Prior to that Mr Way was Project Director - Major Projects for BHP Billiton (QNI Pty Ltd) in Townsville, Queensland. While with BHP, Mr Way led a project management group that was responsible for implementing A$210 million of improvement projects(brownfield) from pre-feasibility through to commissioning throughout the refinery.

He holds a Bachelor of Science (Geology) from Acadia University in Nova Scotia, Canada and a Masters of Business Administration from the University of Queensland, Australia.

"I look forward to leading the company and driving the exploration activities on the Angostura project to an NI 43101 compliant resource. This asset exhibits all the attributes I look for in a project. I greatly anticipate working with the AGL team, with the aim of growing the company through to mid-tier status."

ON BEHALF OF THE BOARD,

Blair Way, President and CEO

Aguila American Gold Ltd.

Aguila American Gold Ltd. is an emerging gold exploration company with an experienced geological and executive management team focused on advancing and developing their flagship prospective gold project, Angostura. Angostura is located 180 kilometres southwest of city of Cuzco, in the Department of Apurimac, southwestern Peru. Angostura is located in a prolific mineral trend, approximately 25 kilometres from the Las Bambas Mine, a $4.5 billion mining project being developed by Xstrata Mining Pty.

For more information visit www.aguilaamerican.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Aguila American Gold Ltd.
(604) 685 9316
(604) 683 1585 (FAX)
www.aguilaamerican.ca

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