Amalgamated Gold and Silver Inc. (AGS) (BCHS) has signed an LoI to acquire a 70% interest in the El Banco concession located in Jalisco, Mexico.

The El Banco is a 4000 Hectare concession with strong showings of high grade iron ore and copper. Mine engineer Ricardo Vera and geologist David E.

Clavellina Corralas are currently on site conducting trenching and sampling of several previously identified areas.

The company expects to receive their field report and assay results in early March 2014.

AGS is also pleased to announce that it has concluded negotiations and retained Exploration Alliance SA to complete a NI 43-101 compliant report on the proven reserves of the San Antonio de Turiri Mine in Bolivia.

The Exploration Alliance SA geologist will meet Almero Bourbon in Bolivia on the 16th of Feb. 2014 to begin the process.

The company anticipates it will receive the NI 43-101 report in the first weeks of March 2014.