EXHIBIT 4.59


                            DEBT SETTLEMENT AGREEMENT


THIS AGREEMENT made this 8th day of October, 2004.

BETWEEN:

         MUNDAY HOME SALES LTD.
         206-4400 Dominion Street
         Burnaby, B.C.
         V5G 4G3

         (the "Creditor")

                                                               OF THE FIRST PART

AND:

         AMADOR GOLD CORP.
         16493-26'Avenue
         Surrey, B.C.
         V3S 9W9

         (the "Company")

                                                              OF THE SECOND PART


WHEREAS:

A.       The Company is  indebted to the  Creditor  for an  aggregate  amount of
$486,097.07 (the "Indebtedness); and

B.       The Creditor has agreed to accept the delivery of 3,739,208  units (the
"Units")  at a  price  of  $0.13  per  unit,  in  full  discharge  and  complete
satisfaction  of  the  Indebtedness  and to  grant  the  Company  a  release  as
hereinafter described. Each unit consists of one (1) common share (the "Shares")
and one (1)  non-transferable  share  purchase  warrant  (the  "Warrant").  Each
Warrant  entitles the Creditor to purchase one (1) additional  common share at a
price of $0.13 for a period of two (2) years from the Closing Date.

NOW THEREFORE THIS AGREEMENT  WITNESSETH that in  consideration  of the premises
and  other  good and  valuable  consideration  (the  receipt  whereof  is hereby
acknowledged) the parties hereto agree as follows:

1.       ACKNOWLEDGEMENT OF INDEBTEDNESS

1.1      The Company acknowledges and agrees that it is indebted to the Creditor
in the amount of the Indebtedness.





2.       CONDITION PRECEDENT

2.1      The  issuance  of the  Units  by the  Company  and the  closing  of the
transactions contemplated by this Agreement are subject to the Company obtaining
all required regulatory and other approvals.

3.       ISSUANCE OF UNITS

3.1      Within three  business  days of the  Company's  receipt of all required
regulatory and other approvals (the "Closing Date"),  the Company shall issue to
the Creditor the Units,  at an issued price of $0.13 per unit, as full and final
payment of the  Indebtedness  and the Creditor hereby agrees to accept the Units
as full and final payment of the Indebtedness.

3.2      On the Closing Date,  the Company shall  forthwith  cause its registrar
and transfer agent to issue and deliver certificates  representing the Shares to
the Creditor and deliver the Warrant to the Creditor.

4.       RELEASE AND DISCHARGE

4.1      The  Creditor  hereby  agrees  that upon  delivery  of the Units by the
Company in accordance  with the provisions of this Agreement,  the  Indebtedness
will be fully satisfied and extinguished  and the Creditor will remise,  release
and forever discharge the Company and its shareholders,  directors, officers and
employees from any and all obligations relating to the Indebtedness.

5.       HOLD PERIOD

5.1      The  Creditor  acknowledges  that the Shares  and any shares  issued on
exercise of the Warrant,  will be subject to a  four-month  hold period from the
date of issuance of the Shares.

6.       REGULATORY APPROVAL

6.1      The Company hereby  covenants with the Creditor to use its commercially
reasonable best efforts to obtain all required regulatory and other approvals to
the issuance of the Units to the Creditor.

7.       GENERAL PROVISIONS

7.1      Time is of the essence of this Agreement.

7.2      The  parties  will  execute and  deliver  all such  further  documents,
discharges,  releases and instruments and do all such further acts and things as
may be required to carry out the full intent and meaning of this  Agreement  and
to effect the transactions contemplated hereby.

7.3      The provisions herein contained constitute the entire agreement between
the  parties  and   supersede  all  previous   understandings,   communications,
representations and agreements,  whether written or verbal,  between the parties
with respect to the subject matter of this Agreement.


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7.4      This  Agreement  shall be construed in accordance  with the laws of the
Province of British Columbia. All references to sums of money shall be deemed to
refer to the legal tender of Canada.

7.5      This  Agreement  shall enure to the benefit of and be binding  upon the
parties hereto and their respective successors and assigns.

7.6      In this Agreement,  wherever the singular or masculine is used the same
shall be deemed to include the plural, feminine or body politic or corporate and
also the successors and assigns of the parties hereto and each of them where the
context of the parties so require.


IN WITNESS  WHEREOF the parties have hereunto  executed this Agreement as of and
from the day and year first above written.


MUNDAY HOME SALES LTD.

By:  /s/ Maxwell Munday
- ----------------------------
Maxwell Munday, President



AMADOR GOLD CORP.

By:  /s/ Rupert L. Bullock
- ----------------------------
Rupert L. Bullock, President


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