Payday Loans

By 2g1c2 girls 1 cup

 

GHANA:

MALI:

NEWS RELEASES

African Gold Group Launches New Web Site Print E-mail
Monday, 12 December 2005 14:36

African Gold Group, Inc., is pleased to report that it has completed the construction and launch of the Company's new web site and is extending an invitation to all shareholders and investors to tour the updated and remodeled site at their leisure.

African Gold Group, Inc. commenced trading as a public company on the 18th of March, 2004, with three gold concessions in Ghana, consolidated in two project sites:

1. The 108 sq. km Mankranho gold concession, representing the mineralized northern extension of Newmont Mining Corporation's US$375 million Ahafo project, scheduled for production in Q3, 2006;

2. The 304 sq. km Moseaso & Twedee gold concessions (the Asankrangwa holdings) with 9 km of known mineralized strike length.

Over the ensuing 21 months AGG has continued to build on its primary asset, its land position, with the acquisition of:

 

  • The 71 sq. km Nyankumasi gold concession, contiguous with Newmont Mining Corporation's US$500 million Akyem project, scheduled for production in 2008;
  • The combined 135 sq. km Manso Nkwanta and Assuowunu gold concessions, consolidating AGG's Asankrangwa holdings to cover a total of 449 contiguous sq. km, that now contain 24 km of known mineralized strike length;
  • Three separate gold concessions from Cominor SA, located in Mali, West Africa: the 41 sq. km Kobada concession; the 183 sq. km Bagoe West gold concession and the 183 sq. km Bagoe East gold concession. The acquisition of the three concessions also included the acquisition of a €5,000,000 historical data base.
  •  

    The above transactions have resulted in AGG increasing its control over a total of 9 gold concessions consolidated in 6 separate project sites. Ghana is host to three of the standalone projects and each of the Ghana projects is a maximum of 30 km from existing milling infrastructure. The remaining 3 standalone project sites are hosted in Mali, West Africa and represent significant potential for the development of a major resource.

    In conjunction with assembling our land portfolio AGG continued to build on its primary strength -- our people - which resulted in:

     

  • The appointment of Ghana's former President of the Chamber of Mines, Mr. Ben Adoo ACSM (Camborne); M. Eng. (McGill); C. Eng., as Managing Director of our wholly owned subsidiary, AGG (Ghana) Ltd. and subsequently as Chairman of the Board of African Gold Group, Inc.
  • The creation of AGG's advisory board and the appointments of Mr. Henry (Hank) Reimer, P. Eng., a veteran mining analyst and Mr. Randy Eppler, M. Sc., former President of Newmont Indonesia and former Vice President of Newmont Mining Corporation and Newmont Capital Ltd.
  • The appointment of Samuel Bosomtwe, former Chief Geologist (Surface Exploration) of AngloGold Ashanti -- Obuasi Mine - as Exploration Geologist of AGG (Ghana) Ltd.
  •  

    AGG has recently commenced a diamond drill program at both of its Mankranho and Kobada gold concessions in Ghana and Mali respectively. This exercise marks the next phase of the Company's planned development as we focus on converting our known gold potential into resources. Similarly a diamond drill program is being planned for our Nyankumasi concession in Ghana for early 2006.

    The Company will release the drill results from the above two exploration programs in a timely fashion and in the interim we extend a warm invitation to all shareholders and investors to visit us at www.africangoldgroup.com and tour our updated and remodeled web site that was designed to impart information on all project and country updates in a user friendly, easily navigable format.

    African Gold Group, Inc., based in Toronto, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa. The Company's immediate focus is to systematically explore both surface, and in particular, subsurface targets that have been identified within the Company's current portfolio of gold mineralized concessions located in Ghana and Mali, West Africa.

    Additional Information is available on the Company's website at africangoldgroup.com and on sedar.com and through the Company's offices at:

    Suite 2518, 150 King St. West,
    Toronto, Canada M5H 1J9.
    Sun Life Financial Tower,

    On Behalf of the Board:

    Michael A. J. Nikiforuk,
    President, Director

    African Gold Group, Inc.

    Michael A. J. Nikiforuk
    President, Director
    (416) 644-8892 ext 101

    This e-mail address is being protected from spambots. You need JavaScript enabled to view it

    The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.