AMC American Music Corporation Agrees to Acquire Mercantile Gold Company.

DENVER -- AMC American Music Corporation, Inc. (Pink Sheets:AMCT) announces that David Michery and Kent Puckett have resigned from the Board of Directors and that Stephen Doppler has been appointed to the Board.

AMCT has entered into an agreement to acquire 100% of Mercantile Gold Company for stock. Mercantile Gold is in the business of acquiring and developing world-class gold, silver and copper deposits in the United States, Mexico and Chile.

The transaction will close in early August, at which time the Company will apply for a name and trading symbol change to reflect its new business focus.

This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.