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Re:   News Release - Thursday, December 23, 2010
      Amador Gold Closes On $1.92 Million
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VANCOUVER, BC - Amador Gold Corp (TSX-V: AGX) (the "Company") is
pleased to announce that it has raised $1,920,000 by way of Brokered
and Non-brokered private placement through the issuance of 9,600,000
Units (the "Unit") at a price of $0.20 per Unit. Each Unit consists of
one common share and one-half of one non-transferable share purchase
warrant (the "Warrant"). Each full Warrant entitles the holder to
purchase one additional common share of the Company at a price of $0.25
for a period of three years from closing of the private placement. The
private placement and any modification to it are subject to compliance
with applicable securities laws and to receipt of regulatory approval.
In connection with the transactions, cash commissions totaling $172,800
were paid to M Partners and its selling group of brokers.

Proceeds of the private placement will enable the Company to continue
with the drilling its previously announced Dale Gold and Horwood gold
properties south-west of Timmins, Ontario.

M Partners Inc. has been retained as lead agent in connection with the
Offering and as financial advisor to explore strategic alternatives for
the Company. M Partners is located in Toronto and Vancouver with over
25 professionals serving the needs of their institutional and retail
clients.

About Amador Gold Corp

Amador holds a portfolio of mineral projects in mining-friendly
Ontario, led by its flagship Loveland Gold Project near Timmins, where
exploration and drilling programs currently underway are focused on
gold and nickel-copper deposits. The Kell property has similar
silver-cobalt-mineralization as the nearby historic Gowganda region,
where approximately 60 million ounces of silver were mined in the early
1900s. Other Ontario projects with exploration potential include the
Horwood, Maskooch, and Dale Gold, gold properties, and the Fripp nickel
property.

Contact Information

Corporate Inquiries: Alan Campbell, Director
Phone: (604) 685-2222
Email: info@amadorgoldcorp.com
Website: www.amadorgoldcorp.com

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.

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Copyright (c) 2010 AMADOR GOLD CORP. (AGX)  All rights reserved.  For
more information visit our website at http://www.amadorgoldcorp.com/ or
send mailto:info@amadorgoldcorp.com
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