AGC Americas Gold Corp. announces metallic assay results.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 29, 1996-- AGC Americas Gold Corp. (NASDAQ:AGCFF)(VSE:AGA.V) Monday announced the results of a series of metallic screen assay tests conducted by Eco-Tech Laboratories Ltd. in Kamloops, British Columbia on core samples from exploration diamond drilling performed in 1995 on its properties in the Toodoggone area in north central British Columbia.

In extracting the core samples, AGC geologists encountered naturally fractured ground in some sections, which would indicate easily mineable ground. It is assumed that ore grades should improve through the extraction of more solid core samples, and the company plans to bulk sample these zones during the 1996 drilling program to verify actual grade.

The laboratory tests were performed on samples taken from drill holes identified as JD95-33 to JD95-70 to determine whether the "nugget effect" discovered earlier has been affecting the results of standard fire assays. This "nugget effect," as indicated by the following tabulations has in fact improved the results of conventional fire assays released previously on these intersections by 8 to 20 percent.

The results for the first set of drill holes are indicated below and show significant intervals more than .1 ounce of gold per ton of ore. -0-

Hole No.   Fire Method     True        Metallic    Percent     Core
           Au (oz/ton)   Thickness      Screen     Change    Recovery
                                      Au (oz/ton)             Percent

JD95-33      .138      over 6.6 ft.     .161        +15%        50%
JD95-34      .107      over 6.6 ft.     .121        +12%        60%
             .118      over 9.8 ft.     .129         +9%        60%
JD95-35      .018      over 23 ft.      .019         +6%        52%
JD95-37      .236      over 16.4 ft.    .226         -5%        60%
JD95-39      .157      over 52.8 ft.    .115        -26%        70%
JD95-40      .462      over 23.0 ft.    .575        +20%        85%
JD95-41      .200      over 57.2 ft.    .186         -7%        75%
JD95-43      .431      over 3.3 ft.     .401         -7%        93%
             .206      over 3.3 ft.     .207         +1%        93%
             .107      over 2.6 ft.     .126        +16%        17%
             .134      over 5.8 ft.     .127         -6%        85%
             .001      over 3.3 ft.     .164       +100%        93%
JD95-47      .123      over 6.6 ft.     .124         +1%        95%
            3.195      over 6.6 ft.    3.69         +14%       100%
JD95-54      .169      over 29.6 ft.    .15         -12%        95%
JD95-63      .207      over 33.6 ft.    .297        +31%        94%
JD95-64      .318      over 18 ft. to
                        over 34 ft      .312         -2%        90%
JD95-67      .108      over 42.7 ft.    .132        +19%        89%
JD95-68      .222      over 44.8 ft.
                       to over 53 ft.   .234         +6%        95%
JD95-70      .231      over 9.5 ft.     .327        +30%        90%

-0-

Additional results will be released on core samples from holes JD95-71 to JD95-132 as they are received and compiled. -0-

NOTE TO EDITORS: The Vancouver Stock Exchange has neither approved or disapproved the information contained in this release.

CONTACT: AGC Americas Gold Corp.

Shelly Tranelis, 800/545-5787

or

Bruce Whitehead, 800/320-1635

[e-mail]