Aguila American Applies to Extend Warrant Terms

Aguila American Gold Limited ("Aguila" or the "Company") (TSX VENTURE:AGL) (The
Company is pleased to announce that it will be making an application to the TSX
Venture Exchange (the "Exchange") to extend the term of a total of 7,225,000
common share purchase warrants by six months.


An aggregate of 5,975,000 of the warrants (the "November Warrants") were issued
pursuant to a non-brokered private placement which closed on November 4, 2010
and are exercisable into common shares in the capital of the Company at an
exercise price of $0.20 until November 4, 2012. An aggregate of 1,250,000 of the
warrants (the "December Warrants") were issued pursuant to a non-brokered
private placement which closed on December 1, 2010 and are exercisable into
common shares in the capital of the Company at an exercise price of $0.40 until
December 1, 2012. Aguila is seeking acceptance from the Exchange to extend the
terms of the November Warrants until May 4, 2013 and the December Warrants until
June 1, 2013. All other terms of the November Warrants and the December Warrants
will remain the same.


On behalf of the Board of Directors,

John Huguet, President

Statements in this press release regarding the Company which are not historical
facts are "forward-looking statements" that involve risks and uncertainties.
Such information can generally be identified by the use of forwarding-looking
wording such as "may", "expect", "estimate", "anticipate", "intend", "believe"
and "continue" or the negative thereof or similar variations. Since
forward-looking statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties may prove to be inaccurate
for any reason whatsoever. Actual results in each case could differ materially
from those currently anticipated in such statements. Except as required by law,
the Company does not intend to update any changes to such statements.