Aguila American Gold Appoints Michael Thomsen to Advisory Board

Vancouver, British Columbia – February 1, 2021:  Aguila American Gold Limited (“Aguila” or the “Company”) (TSX-V: AGL) (OTC: AGLAF) (WKN: A2DR6E) is pleased to announce the formation of an advisory board (the “Advisory Board”) to provide support and guidance to the Company’s Board of Directors.  In parallel, the Company announces the appointment of Mr. Michael Thomsen of Denver, Colorado as the Advisory Board’s foundation member.

Mr. Thomsen is a highly regarded mineral explorationist, with a successful career spanning many decades and continents in the employ of both senior and junior companies. Michael’s career has included leadership roles with Freeport and Gold Fields, culminating with his role as Director of International Exploration at Newmont during the period when the Yanacocha gold district in Peru increased resources to over 50 million ounces of gold.

“I am very pleased and welcome someone of the discovery record of Mike Thomsen to Aguila’s newly formed Advisory Board” said Mr. Mark Saxon, President and CEO. “As we advance the WUSA project in Oregon and make additional acquisitions in North America, Mike’s experience and network will be invaluable. Aguila is a young company focused on the safe and sustainable discovery of high merit gold, copper and silver projects, and we welcome Mike to our growing team.”

The Aguila Advisory Board will be structured to provide objective advice and guidance to the Board and executive team to help achieve the best outcomes for all stakeholders.

About Aguila American Gold Ltd (TSX.v: AGL) (OTC: AGLAF) (WKN: A2DR6E)

Aguila American Gold is an emerging gold company enhancing shareholder value through exploration and discovery.

ON BEHALF OF THE BOARD,

Neither the 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.

Cautionary Note Regarding Forward-Looking Statements

Certain information set out in this news release constitutes forward-looking information. Forward looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “may”, “will”, “intend”, “could”, “might”, “should”, “believe” and similar expressions. Forward-looking statements are based upon the opinions and expectations of management of the Company as at the effective date of such statements and, in certain cases, information provided or disseminated by third parties. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, and that information obtained from third party sources is reliable, they can give no assurance that those expectations will prove to have been correct. Readers are cautioned not to place undue reliance on forward-looking statements.

These forward-looking statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward-looking statements, except as may be required by applicable securities laws.