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Closing of Financing

03.17.2006

VANCOUVER, BRITISH COLUMBIA – March 17/CNW/Amerigo Resources Ltd. (TSX:ARG) (“Amerigo” or the “Company”) has, further to its news release of February 21, 2006, closed a financing of 7,000,000 common shares of the Company at the price of $2.60 per share to raise gross proceeds, before expenses and underwriters’ fees, of $18,200,000. The offering was led by Raymond James Ltd. and included MGI Securities Inc. and Salman Partners Inc. The net proceeds from the Offering will be used to fund ongoing corporate development and for general corporate purposes.

Amerigo is a Canadian copper and molybdenum producing company with operations near Santiago, Chile. Tel.: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; listing: ARG:TSX.

For further information, please contact:

Michael J. Kuta, General Counsel & Secretary
Amerigo Resources Ltd.
Tel: (604) 697-6201

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 forwarding-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.