Antioquia Gold Inc. Closes Transaction With Am-Ves Resources Inc.

Antioquia Gold Inc. (“Antioquia” or the “Company”), formerly known as High American Gold Inc., is pleased to announce that it has closed its previously announced business combination (the “Transaction”) (see press releases dated February 28, 2008 and April 18, 2008 ) with Am-Ves Resources Inc. (“Am-Ves”).

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Pursuant to the terms of the Transaction, Antioquia has acquired all of the issued and outstanding common shares of Am-Ves (the “Am-Ves Shares”, including the Am-Ves Unit Shares, as defined below) in consideration for the issue of the common shares of the Company (the “Consideration Shares”) to the shareholders of Am-Ves on a one-for one basis and all of the issued and outstanding warrants of Am-Ves (the “Am-Ves Warrants”, including the Am-Ves Unit Warrants, as defined below) in consideration for the issue of warrants of the Company (the “Consideration Warrants”) to the warrant holders of Am-Ves on a one-for-one basis.

Immediately prior to the closing of the Transaction, the Company changed its name to “Antioquia Gold Inc.” and consolidated its shares on a 1 for 10 (1:10) basis. Consequently, the Consideration Shares, the Consideration Warrants and the common shares of the Company issuable upon due exercise of the Consideration Warrants in accordance with the provisions thereof have been issued under the name of Antioquia Gold Inc. on a post-consolidated basis.

Concurrent with the completion of the Transaction, Am-Ves also closed its previously announced brokered private placement (the “Brokered Private Placement”) of 4,380,000 units of Am-Ves (the “Units”) at $0.20 per Unit (on a post-consolidated basis) for gross proceeds of $876,000, with one Unit comprised of one common share of Am-Ves (an “Am-Ves Unit Share”) and one half of a warrant (a “Am-Ves Unit Warrant”), with one full Am-Ves Unit Warrant entitling the holder to purchase one Am-Ves Share at $0.30 per Am-Ves Share (on a post-consolidated basis) for 18 months from closing of the Private Placement.

Blackmont Capital Inc. (“Blackmont”) acted as agent for the Brokered Private Placement. In consideration of its services in connection with the Brokered Private Placement, Blackmont received a corporate finance fee of $40,000 (plus applicable taxes). Blackmont also shared a cash commission of $87,600 and 438,000 broker warrants with members of the selling group. The broker warrants allow their holders to purchase, at any time until the 18-month anniversary of the closing of the Offering, 438,000 Units at $0.20 per Unit (on a post-consolidated basis).

Concurrent with the Brokered Private Placement, Am-Ves also completed a non-brokered private placement (collectively with the Brokered Private Placement, the “Private Placements”) of 1,140,000 Units for gross proceeds of $228,000. Total finders fees of $1,500 were paid in connection with the closing of the non-brokered private placement.

Upon the completion of the Private Placements and the Transaction, the estimated working capital available to the Company will be approximately $875,000, after deducting costs associated with the Private Placements and the Transaction. Of this amount, $215,000 will be spent on exploration, $450,000 will be spent on the Guayabito property acquisition payments, $30,000 will be spent on legal and accounting expenses and $180,000 will fund the general administrative and corporate requirements of the Company.

The activities of Am-Ves, now a wholly-owned subsidiary of Antioquia, constitute the entirety of the operations of Antioquia. As part of the Transaction, the former shareholders of Am-Ves received 23,603,000 common shares of Antioquia, of which 6,129,100 will be subject to an escrow period of 3 years with 10% of the shares being released from escrow upon completion of the Qualifying Transaction and 15% the balance of the shares being released every 6 months. In addition, a four-month TSXV hold period will be imposed on 6,930,000 common shares of Antioquia that are held by certain founders of Am-Ves pursuant to section 10.7 of the TSXV Policy 5.4. The Company now has a total of 26,151,188 common shares issued and outstanding.

Contacts: Antioquia Gold Inc. Rick Thibault President (484) 319-7807

Email: rthibault@express.tc