AGC Americas Gold Corp. Regains Title to 100% of Toodoggone Mineral Properties.

VANCOUVER, CANADA--(BUSINESS WIRE)--July 23, 1999--

AGC Americas Gold Corp. (OTC BB:AGCFF)(VSE:AGA) announced today that it has reached an agreement with Antares Mining Exploration Corporation which will allow AGC to regain title to 100% of the Toodoggone mineral properties located in North Central British Columbia, Canada which were governed by the AGC/Antares joint venture agreement (the "joint venture") since 1997. Under the terms of the new agreement, AGC will pay Antares $150,000 within five business days to gain Antares' 47% interest in the property. The cash amount represents full and final settlement of any and all amounts due from AGC to Antares under the terms of the joint venture.

Antares confirms that it will not participate in any mineral property costs or payments. As a result, Antares will no longer have any vested interest in any of the mineral properties or mining leases covered under the joint venture and will have no further financial obligation. In addition, Antares will assign its interest in the $160,000 reclamation bond to AGC in return for AGC assuming all obligations for reclamation of all unreclamed properties associated with the joint venture.

"We are pleased with the agreement Antares has made with us. We were able to secure full ownership of the Toodoggone mineral properties at a nominal cost and believe the areas have potential for favorable returns in the future," said AGC Americas Gold Corp President Thomas L. Crom.

AGC Americas Gold Corp., through its wholly owned subsidiary Timebeat.com, is currently developing an e-commerce website selling brand name watches, jewelry, and collectibles at discounted prices. The website, currently under construction, can be visited at www.timebeat.com.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, possible changes in cost of materials, expense items, capital expenditures, capital structure, and other financial items; introduction of new products and possible acquisitions of assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.