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News from American Gold , SILA is trading @ .80 us

Gold American Mining Corp. Guadalupe Drilling Update  OCT 19/10 

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Gold American Mining Corp. (OTCBB: SILA) ("Gold American" and/or "the Company") is pleased to provide an update on the drilling operations at its Guadalupe Property located in the heart of the Fresnillo district in Zacatecas, Mexico.

The first drill hole was completed ahead of schedule on Friday, October 15th and it reached a total depth of 507.35 meters. From core observation, we believe that the drill was successful in intersecting the down dip extension of the San Antonio vein at a depth of 347 meters. The intersected interval was 1.5 meters wide (from 347.0m to 348.5m). In addition, another 1.4m zone of interest was intersected from 420.0m to 421.4m. Samples will be prepared and shipped to Canada for analysis in order to determine the mineralization grades of these zones. The first set of assay results of the drilling is expected in 3 to 5 weeks.

The drill also intersected a greater than 90-meters zone of siltstone with pervasive very fine-grained pyrite, which could be the source of the strong IP chargeability anomaly uncovered by our geophysics program earlier this year. Further analysis is required to determine the true extent of the mineralization contained on this zone.

Operations on drill hole No. 2 started on October 16th and as of last night, 207 meters had been drilled. This second drill hole is targeting the down dip extensions of the parallel San Marcos and Santa Rosa veins.