2nd Diamond Drill Rig Enroute To Kobada

TORONTO, CANADA, February 06, 2007 - African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the results from diamond drill holes KB06-12 and KB06-13, that were completed in December, 2006, as well as, KB07-15 and KB07-16, representing two of nine diamond drill holes that have been completed since the resumption of work on January 9, 2007.

At present, a single Longyear 38 diamond drill rig, capable of drilling to a depth of 600 meters down hole, remains active in completing AGG's 10,000 meter infill program within the 1.2 km strike length of "Zone 1", which represents 10% of the 12 km anomalous strike length of the overall Kobada Trend. The Company is pleased to report that a LF90D hydraulic diamond drill rig, that is capable of drilling to a depth of 900 meters down hole, has finally entered Mali and is anticipated to arrive at Kobada and commence work within the week.

RESULTS AND ANALYSIS

The results from the four diamond drill holes are shown in Table 1 below. Please see the attached map for the collar locations and trace of each hole.

Kobada-Drilling-Section

The drill core samples were both HQ and NQ size and were cut in half by a diamond saw on site. Half of the core from one meter long samples was shipped to Groupe de laboratoire ALS MALI SARL, located in Bamako, Mali and analyzed for gold by fire assay on a 50 gram sample charge. Metallic screen assays were also performed on all samples from within the mineralized zone. Standards and blanks were inserted alternatively every 20 samples submitted to the laboratory for analysis.

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2nd Diamond Drill Rig Enroute To Kobada

TORONTO, CANADA, February 06, 2007 - African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the results from diamond drill holes KB06-12 and KB06-13, that were completed in December, 2006, as well as, KB07-15 and KB07-16, representing two of nine diamond drill holes that have been completed since the resumption of work on January 9, 2007.

At present, a single Longyear 38 diamond drill rig, capable of drilling to a depth of 600 meters down hole, remains active in completing AGG's 10,000 meter infill program within the 1.2 km strike length of "Zone 1", which represents 10% of the 12 km anomalous strike length of the overall Kobada Trend. The Company is pleased to report that a LF90D hydraulic diamond drill rig, that is capable of drilling to a depth of 900 meters down hole, has finally entered Mali and is anticipated to arrive at Kobada and commence work within the week.

RESULTS AND ANALYSIS

The results from the four diamond drill holes are shown in Table 1 below. Please see the attached map for the collar locations and trace of each hole.

Kobada-Drilling-Section

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African Gold Group, Inc., is pleased to announce that it has entered into an agreement with Westwind Partners Inc. ("Westwind") pursuant to which Westwind has agreed to act as exclusive agent for a "best efforts" private placement of up to 2,000,000 units at a price of $1.75 per unit for gross proceeds to the Company of $3.5 million. Each unit shall consist of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of AGG at a price of $2.25 for 24 months from the closing date.

The Company has also granted Westwind an option, exercisable until the closing of the private placement, to purchase, at the issue price of $1.75, up to 1,000,000 additional units. If the option is exercised in full, the gross proceeds to the Company, from the placement, will be $5.25 million.

African Gold Group, Inc. will use the net proceeds from the placement of the units for its continuing exploration programs and general corporate purposes.

Westwind shall receive compensation comprised of cash and broker warrants upon closing of the offering.

The offering is scheduled to close on or about March 13, 2007 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities to be issued under this offering will be offered by way of private placement exemptions in all the provinces of Canada and the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

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African Gold Group, Inc., is pleased to announce that it has closed the "best efforts" private placement financing previously announced on February 26, 2007. Through the efforts of Westwind Partners Inc. ("Westwind" or the "Agent"), the Company raised gross proceeds of $4,448,500 through the issuance and sale of 2,542,000 units at a price of $1.75 per unit. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $2.25 for 24 months from the closing date.

African Gold Group, Inc. will use the net proceeds from the placement of the units for its continuing exploration programs in Mali and Ghana and for general corporate purposes. 

"We are eager to apply the proceeds of this financing to the ongoing development of our assets with a primary focus on our Kobada, Mali project. We are grateful for the continuing support of our existing institutional shareholders and are encouraged by the breadth of participation from new institutional shareholders", states Michael Nikiforuk, President, African Gold Group, Inc.

Westwind received compensation comprised of cash and broker warrants upon closing of the offering. 

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"Zone 1" Continues To Demonstrate Continuity

TORONTO, CANADA, JANUARY 17, 2007

African Gold Group, Inc., ("AGG" or the "Company") is pleased to report the results from two of four diamond drill holes that were completed in December, 2006. The two holes, that are the subject of this release, represent an additional 473 meters drilled out of the planned 10,000 meter infill diamond drill program at AGG's Kobada concession, located in Mali, West Africa. The remaining two holes, totaling 435.5 meters, will be reported as soon as assay results are delivered to the Company.

The Company's 2007 diamond drill campaign is currently underway, representing the continuation of AGG's 10,000 meter infill program within the 1.2 km strike length of "Zone 1", which represents 10% of the 12 km anomalous strike length of the overall Kobada Trend. 

RESULTS AND ANALYSIS

The results from the two diamond drill holes, located on lines 1700S and 1750S, totaling 473 meters, are shown in Table 1 below. 

"The initiation of the application of metallics assays has demonstrated the suspected coarse gold component in the Kobada deposit. This is a positive development in that it supports the probability of a simple recovery process, although it does provide challenges in grade estimation. In general, we suspect it will increase the real grade that has been measured in the past and will produce more consistent results than were achieved by the previous operators, at Kobada. We will therefore be re-evaluating our past results as well as making the metallics assay procedure standard practice in the future,"

Greg Hawkins, P.Geo. 

The drill core samples were both HQ and NQ size and were cut in half by a diamond saw on site. Half of the core from one meter long samples was shipped to Groupe de laboratoire ALS MALI SARL, located in Bamako, Mali and analyzed for gold by fire assay on a 50 gram sample charge. Metallic screen assays were also performed on all samples from within the mineralized zone. Standards and blanks were inserted alternatively every 20 samples submitted to the laboratory for analysis.

TABLE 1: RESULTS FROM AGG'S DECEMBER, 2006 DIAMOND DRILLING CAMPAIGN

Hole      Interval (m)               Au (g/t)
From To Length Metallics Assay
KB06-10 75.0 104.0 29.0 1.04
and 119.0 181.0 62.0 1.71
incl 119.0 140.0 21.0 3.57
KB06-11 61.0 65.0 4.0 3.83
and 84.0 125.0 41.0 1.01
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African Gold Group, Inc., is pleased to announce that a geophysical survey has commenced at the Kobada concession, located in Mali, West Africa.

The survey will initially focus on establishing a 2 km x 2 km survey grid that will encompass the 1.2 km long strike length of "Zone 1" where 2 diamond drill rigs continue to in-fill drill on 50 meter spacing, on a 2 shift/day, 7 days/week (24x7) basis for both rigs. The survey will ultimately be conducted throughout the entire 42 sq. km Kobada concession as "Zone 1" represents 10% of the 12 km anomalous strike length of the overall Kobada Trend and ongoing regional mapping is indicating the existence of additional parallel structures that require investigation. 

The geophysical survey will consist of Induced Polarization (IP) and Ground Magnetics utilizing a proprietary technology known as "Insight Array." This technology was designed to penetrate difficult geology / geomorphology conditions. One of the most common challenges for common exploration tools in West Africa is dealing with regions of well developed laterite. The "Insight Array" technology is designed to investigate the difficult surface layers and penetrate into the subsurface geology to vertical depths of 400 meters to distinguish lateral geologic changes at 25 meter intervals, representing data density that is approximately four times that of a typical IP survey.

Once the data generated from the geophysical survey has been compiled, AGG geologists will collaborate with the geophysicists to overlay the current diamond drill assay data that has been generated from approximately 10,000 meters of infill drilling on 50 meter spacing within "Zone 1" to generate a "signature" or "fingerprint" of the known gold bearing mineralized zones. Once this "signature" or "fingerprint" has been identified within "Zone 1" then the balance of the 42 sq. km Kobada concession will be surveyed with the intention of identifying similar "signatures" that would essentially constitute enhanced drill targets, throughout the overall concession, as well as, the balance of the 12 km strike length of the anomalous Kobada Trend.

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African Gold Group, Inc., is pleased to report the assay results from diamond drill holes KB07-17 through KB07-25 that were drilled in February, 2007. Collectively, these holes were collared on 50 meter spacing, relative to prior holes drilled, on sections 15+50S, 16+00S, 17+00S, 18+00S, 18+50S. In addition, KB07-24 and KB07-25 represent the first holes drilled by AGG on section 19+00S, demonstrating the ongoing progress of AGG's drill campaign to "connect" the sections on 50 meter spacing between sections 15+50S through 24+00S (see attached drill hole plan map). 

At present, a Longyear 38 and LF90D diamond drill rig(s) continue to in-fill drill on 50 meter spacing on a 2 shift/day, 7 days/week (24x7) basis. Upon completing the infill program between sections 15+50S and 24+00S, AGG will subsequently initiate drilling to delimit the strike extension to the northeast of section 15+00S and to the southwest of 24+00S. To date, the project remains open in all directions.

RESULTS AND ANALYSIS

The results for diamond drill holes KB07-17 through KB07-25 are shown in Table 1 below. Please see the attached map for the collar locations and trace of each hole.

The drill core samples were both HQ and NQ size and were cut in half by a diamond saw on site. Half of the core from one meter long samples was shipped to Groupe de laboratoire ALS MALI SARL, located in Bamako, Mali and analyzed for gold by fire assay on a 50 gram sample charge. Metallic screen assays were also performed on all samples from within the mineralized zone. Standards and blanks were inserted alternatively every 20 samples submitted to the laboratory for analysis.

TABLE 1: RESULTS FROM AGG's CONTINUING DIAMOND DRILLING CAMPAIGN

SectionHoleIntervalAu (g/t)
FromToLength
KB07-17 17+00S 0.00 64.00 64.00 0.69
Incl   17.50 33.00 15.50 1.70
    76.00 89.50 13.50 0.41
    98.50 116.50 18.00 0.55
KB07-18 18-00S 0.00 72.00 72.00 0.50
Incl   13.00 16.00 3.00 3.31
and   70.00 72.00 2.00 2.51
KB07-19 18+50S 4.00 46.00 42.00 1.45
Incl   11.50 39.50 28.00 2.01
    53.50 76.00 22.50 0.48
    122.30 136.00 13.70 0.77
KB07-20 18+50S 0.00 99.50 99.50 0.51
Incl   29.50 35.50 6.00 2.97
and   56.00 59.00 3.00 2.26
    119.50 135.20 15.70 0.80
Incl   121.00 128.50 7.50 1.27
KB07-21 15+50S 2.50 16.00 13.50 1.84
    89.50 118.00 28.50 0.90
Incl   108.00 115.00 7.00 2.95
    129.00 132.00 3.00 2.20
KB07-22 15+50S 11.50 25.00 13.50 0.52
    38.50 46.00 7.50 0.53
    53.00 62.00 9.00 0.72
KB07-23 16+00S 37.50 47.30 9.80 2.18
KB07-24 19+00S 22.50 39.00 16.50 0.37
    55.00 58.50 3.50 1.95
    66.00 84.00 18.00 0.49
    117.00 135.00 18.00 2.93
Incl   120.00 129.00 9.00 5.66
    142.00 151.00 9.00 0.61
KB07-25 19+00S 6.00 42.60 36.60 1.06
Incl   22.50 42.60 20.10 1.75
    51.50 63.00 11.50 0.62
    87.00 100.50 13.50 0.19
    124.00 129.50 5.50 0.77

The above results confirm an additional 50 meters of strike length and simultaneously test another historical section in 19+00S. AGG has now successfully tested 600 meters of the 1,200 meters that are indicated by historical drilling (see Table 2, below).

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African Gold Group, Inc.,  is pleased to report that the Company's surface exploration program at its Assuowunu (Ghana) concession has identified three main gold-in-soil anomalies that trend into the contiguous Esaase concession, controlled by Keegan Resources Inc.

This regional exploration program was conducted to extend a previous survey south, to the borders that form the contiguous Assuowunu / Esaase concession's common boundaries.

The prior regional survey, to the north of the current survey, comprised silt sampling, grid establishment and soil sampling. The silt sampling program defined four anomalous zones and numerous creeks showed visible gold grains ranging from 1 to 2 small grains per sample to more than 25 grains per sample. Grain size varied from small (<1mm) to 3 mm size.

The current survey has extended three of the anomalies to the common Assuowunu / Esaase border and closed the soil grid to 200 meters x 50 meters. The three main anomalies that have been identified are indicated on the accompanying map as Target(s) "A", "B" and "C" (please see attached map to show the entire survey area with the current southern portion of the survey area highlighted).

Keegans-Esaase-Strike-Map

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African Gold Group, Inc., is pleased to report the metallic assay results for 33 new diamond drill holes represented by hole KB07-14 and holes KB07-26 inclusive through to KB07-57.

Highlights include 35 meters of 1.27 g/t Au, 42 meters of 1.05 g/t Au, 17 meters of 2.05 g/t Au and 11.70 meters of 3.78 g/t Au.

RESULTS AND ANALYSIS

For coherence, the results from the 33 diamond drill holes have been organized according to the section the hole was drilled on as opposed to numerical order and are depicted in Table 1 below. Please see the attached map for the collar locations and trace of each hole and the respective section the holes were drilled on.

The drill core samples were both HQ and NQ size and were cut in half by a diamond saw on site. Half of the core from one meter long samples was shipped to Groupe de laboratoire ALS MALI SARL, located in Bamako, Mali and analyzed for gold by fire assay on a 50 gram sample charge. Metallic screen assays were also performed on all samples from within the mineralized zone. Standards and blanks were inserted alternatively every 20 samples submitted to the laboratory for analysis.

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African Gold Group, Inc.;is pleased to report the metallic assay results for an additional 9 diamond drill holes from AGG's Kobada, Mali gold project.

HIGHLIGHTS

  • KB07-67: 81.50 meters of 0.96 g/t Au, including 52.70 meters at 1.29 g/t AuKB07-73: 38.20 meters of 1.93 g/t Au, including 6.50 meters of 9.39 g/t AuRecent Drilling pushes south beyond known envelope, to section 29+50S, 400 meters south of any drill hole reported to date by AGG. Samples prepared and in lab for analysisDeposit remains open along strike
  • RESULTS AND ANALYSI

For coherence, the results from the nine diamond drill holes have been organized according to the section the hole was drilled on as opposed to numerical order and are depicted in Table 1 below. Please see the attached map for the collar locations and trace of each hole and the respective section the holes were drilled on.

Kobada-Drilling-Section

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