Amerigo - Closing of Financing

VANCOUVER, 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.

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.