Way has 20 years experience in project development, and was previously vice-president of project development at Ventana Gold Corp. (TSE:VEN), where he developed, planned and implemented the necessary pilot plant and exploration actions to complete a feasibility study.
Ventana was purchased by Eike Batista in 2009 for $1.5 billion.
Way also worked for OceanaGold, serving as Philippine country president and project director for the Didipio gold copper project.
"To attract a director the caliber of Blair Way is a tremendous credit to the quality of the gold asset we have at Angostura," chief executive John Huguet said in a statement.
"Blair has just been through a major transaction in the junior gold space and was responsible for driving the company toward development and production, thus creating further value and instigating the purchase."
The junior gold explorer owns the Angostura gold project in southern Peru, Andean Cordillera. The property has eight key concessions totalling 4,869 hectares, with another four in progress.
In early August, the company said it snagged a drill permit by the Ministry of Energy and Mines of Peru. The natural resource development company said that it plans to launch a 7,000 metre diamond drill program.
Aguila American Gold also noted it contracted Fugro Ground Geophysics to complete an initial 65.7 line kilometres of induced polarization.