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StockGuru Welcomes Gold American Mining (OTCBB: SILA)

Gold American Mining (OTCBB: SILA) STOCKGURU PROFILE – CORPORATE WEB SITE

StockGuru Trade Alert: SILA Volume is Again on Track for a Million Dollar Day – High Today $1.00 – 604,501 Volume First 25 Minutes

Gold American Mining (OTCBB: SILA)

Gold American Mining Corp. (OTCBB: SILA) is a development stage company, focused on the acquisition, exploration, and development of mineral resource properties in North America. The company primarily explores for silver and gold deposits. The Company’s portfolio of international properties in regions is marked by stable politics, sound economies and friendly business relations. October 13, 2010 Gold Record is the latest in a string of all-time highs as the dollar has weakened ahead of widely anticipated monetary easing by the Federal Reserve. Expectations of this so-called quantitative easing, which could include the purchase of Treasurys, have been a strong support of gold because the metal is considered a currency and inflation hedge. Comex front month silver settled at $23.914, its highest finish since September 1980.

Properties Include:

Guadalupe project located in Zacatecas State, Mexico Keeno Strike project located in the Clark County, Nevada Escondida Strike in Opodepe Municipality, Sonora State, Mexico

The company was formerly known as Silver America, Inc. and changed its name to Gold American Mining Corp.

Guadalupe Property (Zacatecas, Mexico) 2,500 Meter Drill Program has Begun Drilling operations commenced at the Guadalupe Property on October 7, 2010, on the 2,500-meters drill program. Samples from the Guadalupe property will be prepared and analyzed by Stewart Labs in their facilities in Zacatecas, Mexico and Kamloops, Canada, respectively. The first drill hole is targeting the down dip extension of the San Antonio vein. The planned target depth for the first hole is 500 meters and is expected to reach final depth in two weeks. The first set of assay results of the drilling is expected in four to six weeks which sets that target date beginning November 7 to 21, 2010.

Primary Goal is to test the down dip extensions of the at least six veins that have been identified to date on the property.

Secondary Goal is to test the strong geophysical targets generated from the recently completed geophysics program that was successful in identifying several significant chargeability and magnetic susceptibility anomalies occurring at depth.

There are six planned drill holes and its progress has been excellent, with an average drilling rate greater than 60 meters per day. Drilling is being performed by Tecmin S.A. de C.V. — a drilling contractor located in the Fresnillo area with extensive experience in the region.

Guadalupe Property Details The Guadalupe property contains two historically significant mines and is located in one of Mexico’s oldest mining districts, roughly 5 miles north of the Fresnillo (Proano) Mine, the world’s richest underground silver mine, operated by Fresnillo plc. Roughly 6.8 miles to the southwest of Silver America’s Guadalupe Property is the Juanicipio Joint Venture (JV) between MAG Silver Corp. (MAG) and Fresnillo plc, which is known as one of the world’s highest grade undeveloped silver resources. The Guadalupe Property contains greater than 20 known workings as well as two historic mines — Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980s. The property is completely surrounded by land controlled by Penoles either through Fresnillo or other subsidiaries and partners.

Highlight from Previous Guadalupe Results

.00 g/t Au and 946.9 g/t Ag over 1.1m (including 1.83 g/t Au and 1,800.0 g/t Ag over 0.5 m) 0.30 g/t Au and 622.0 g/t Ag from a mineralized dump 0.59 g/t Au and 330.0 g/t Ag over 0.7 m 5.35 g/t Au and 1,189.0 g/t Ag from a mineralized dump

Keeno Strike Option Agreement

Strike Option Agreement to purchase an undivided 72% interest in twelve mining claims and a mill site claim containing approximately 245 acres located in Clark County, Nevada. exercise the Keeno Option:

Cash must be paid to Optionor $272,000 in installments on or before June 30, 2010 and Gold American must issue 2M restricted shares of Company common stock in installments to Optionor and fund exploration and Development expenditures must be made on the Keeno Property at a minimum of $750,000 with $400,000 funded on or before April 30, 2011 and $350,000 to be incurred or funded on or before April 30, 2012.

Upon the fulfillment of each of the above-referenced conditions and exercise of the Keeno Option an Gold American Mining will receive the transfer of an undivided 72% interest in the Keeno Property. Such estimates to be evidenced by an independent third party report. Gold American Mining Corp. must issue the Optionor an additional 3,000,000 shares of our common stock. Should the earn-in be completed, the Optionor will retain a 28% interest in the Keeno Property as well as a 4% NSR. Gold American will have the right to purchase 2% of the 4% NSR retained by the Optionor for a purchase price of $20M or such pro rata portion thereof.

La Escondida Option Agreement Gold American Mining Corp. entered into a definitive option agreement dated July 27, 2010with three individuals for the Company’s acquisition of “La Escondida Option” to purchase an undivided 100% interest in two mining concessions in Opodepe Municipality, Sonora State, Mexico, covering approximately 178 hectares. exercise the La Escondida Option, the Company must fulfill certain conditions on or before December 23, 2012:

It must make cash payments to the Optionor in the aggregate amount of Seven Hundred and Sixty-Five Thousand Dollars ($765,000) in increasing increments beginning with a payment of $40,000 on the date of execution of the La Escondida Option Agreement through a final payment of $400,000 on or before the Option Deadline. Upon the Company’s fulfillment of the above-referenced payment conditions and exercise of the La Escondida Option, the Optionor will transfer an undivided 100% interest in the Property to the Company. Should the earn-in be completed, the Optionor will retain a 1% NSR, which can be bought out in its entirety for $500,000.

Gold Futures Outlook Bright, Brighter, Brightest Gold futures settled above $1,370 for the first time October 13, 2010, as heightened expectations of Federal Reserve money printing and wider-reaching concerns about global monetary easing increased the metal’s allure. The most actively traded gold contract, for December delivery, rose $23.80, or 1.8%, to settle at a record $1,370.50 a troy ounce on the Comex division of the New York Mercantile Exchange. It reached as high as $1,375.70, the strongest ever intraday price for a most-active contract. Thinly traded front-month October gold also posted a record settlement, $1,369.50. Gold and silver continue to remain robust given the real concerns about the U.S., eurozone and global economies,” according to a note to clients from Dublin-based bullion dealer GoldCore. “These concerns are creating doubt about the outlook for the dollar, the euro and other fiat currencies due to competitive currency devaluations and currency debasement.” There’s just a move out of dollars into hard assets. Ira Epstein, director of the Ira Epstein division of the Linn Group in Chicago, noted, “I would not be surprised to see $1,400 gold by the end of the year.” Gold is a surrogate currency, and when you have policy disagreements you tend to make currency markets more volatile and gold more popular. The minutes also revealed that the Fed’s staff cut their projections for economic growth in 2011 and expected the underlying inflation rate—already below the central bank’s informal objective—to slow further next year. While lower inflation would ostensibly be bearish for gold, many participants are betting that the increased money supply from the quantitative easing will end up causing consumer and producer prices to rise in coming years.

Johannes Petersen, President

Gold American Mining Corp.

10775 Double R Boulevard Reno, NV 89521 Phone: 775-996-8200 Fax: 775-996-8200 Website: http://www.gold-american.com

Forward-Looking Statements: The statements by our officers, and other statements regarding optimism related to the business, expanding exploration and development activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations, estimates and projections about the Company’s business. Words such as expects, anticipates, intends, plans, believes, sees, estimates and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company’s Securities and Exchange Commission (SEC) filings under “risk factors” and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

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