ROBUST GROWTH CONTINUES AT ZONE 1 NORTH - KOBADA, MALI

TORONTO, CANADA, March 20, 2012 – African Gold Group, Inc., (“AGG” or the "Company”) is pleased to report the analytical results for eight, near surface (oxide), reverse circulation (RC), step-out drill holes from the Company’s Kobada, Mali gold project. All eight holes represent northern step out holes that were collared up to 200 meters north of AGG’s current, 43-101, Zone 1, inferred resource.

Near Surface (Oxide) Drill Highlights From Northern Step-Out Holes Include:

  • KBRC12-006: 70 m @ 1.83 g/t Au & 45 m @ 1.79 g/t Au,  ended in mineralization

  • KBRC12-003: 27 m @ 0.47 g/t Au & 84 m @ 1.26 g/t Au, ended in mineralization

  • KBRC12-004: 21 m @ 1.07 g/t & 9 m @ 1.80 Au

  • KBRC12-005: 21 m @ 1.15 g/t Au

Click Here to view the Northern Step Outs PR1 1100S to 900S

The assay results detailing the 8 near surface, (oxide) northern step-out RC holes that were collared up to 200 meters north of the Zone 1 resource are listed in Table 1 below:

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 African Gold Group, Inc., (“AGG” or the "Company”) is pleased to advise that work continues, unabated, at the Company’s Kobada, Mali gold project. No disruption in work programs or staffing has been experienced as a result of recent events in Bamako, Mali.

Kobada camp supplies and physical equipment have arrived in camp, on schedule, from Bamako and drill samples have been picked up by ALS Chemex Laboratory for return shipment to Bamako for sample preparation and analysis.

AGG management, based in Bamako, Mali, advise that Bamako International Airport is open and international civilian air traffic has resumed.

AGG Director, Pierre Lalande, P. Geo., who had returned to Toronto for the PDAC, as part of normal course rotation, is booked to return to Bamako, Mali, arriving this  Sunday, April 02.

African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa. To date, the Company controls a total of eleven gold concessions that are consolidated in four distinct stand alone exploration projects. Three of these projects are located in Ghana and one project (Kobada) is  located in Mali, West Africa.

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Dear Shareholder(s) / Investor(s):

 

We are pleased to advise that African Gold Group, Inc., - TSX-V: “AGG” - was the subject of a feature story in the April 16-22 edition of the Northern Miner. Click on the image below to view an authorized reprint of the article to keep you apprised of the latest news on AGG.

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Continue reading at the Northern Miner...

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TORONTO, CANADA, October 10, 2012 – African Gold Group, Inc., (“AGG” or the "Company”) is pleased to announce that the Company has entered into an agreement to sell 100% of its Mankranho, Ghana concession to Newmont Ghana Gold Limited (“NGGL”).

Under the terms of the sale, NGGL will purchase AGG’s Mankranho concession for total consideration of US$4,000,000.

The 108 sq km Mankranho concession is located in the Brong Ahafo region of Ghana.

“The sale of Mankrnaho to NGGL represents a significant milestone for AGG, particularly in light of the current macroeconomic environment. The monetization of this asset represents the first step in unlocking the intrinsic value of the Company’s Ghanaian assets, which in turn facilitates a non-dilutive solution to funding the ongoing exercise of completing a full Feasibility Study at AGG’s Kobada, Mali gold project. Moving forward, our sole focus will be putting Kobada into production, as expeditiously as possible,” states AGG President, Michael A. Nikiforuk.

Sierra Partners LLC, headquartered in Denver, Colorado, acted as sole financial advisor to AGG on this transaction.

The closing of the transaction remains subject to standard closing conditions, including all required regulatory approvals.

African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa

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TORONTO, CANADA – African Gold Group, Inc., ("AGG" or the "Company") is pleased to announce that Pope & Company, based in Toronto, Canada has initiated research coverage on African Gold Group, Inc. with a speculative buy recommendation and a target price of $0.84/share.

Pope & Company’s initiating research report on AGG states:

      “African Gold is developing the Kobada property which has a 218.5 sq km concession in the prolific gold producing area of south-west Mali. We recommend African Gold based on the following:

  • Near Term Producer—AGG has the potential to begin production in 2015, and to ramp up production to 126,000 oz Au annually by 2017.
  • Significant Increase In Oxide Resource Expected — Based on pre-2011 drilling, the Resource at Kobada is over 1 M oz Au of which more than 95% is in highly oxidized rock. In Q4/12, the Company plans a Resource update which will include 49,000 m of drilling completed since 2010. We believe this drilling will increase the Resource at Kobada by 65%. Longer term, there is potential to find significantly more gold at Kobada and in the surrounding area, providing the drilling is undertaken.
  • Gold Grade Upside—The gold at the Kobada deposit is coarse and nuggety, which means the contained gold content is often under estimated. The development of Kobada is based on processing the oxide gold ores in a Gravity Processing Plant (GPP) similar to the one which was recently put in operation at Wassoul’Or’s Kodieran Mine also in Mali. Reports from Kodieran indicate that gold grade in ore processed is higher than estimated.
  • Potential Sulfide Resource—Kobada has potential for a large gold sulfide Resource below the oxide layer. The Company has intersected gold in sulfides below the oxide Resource in many areas, but the drill density has not been sufficient to define a Resource.
  • Exploration Upside—Besides Kobada, African Gold has a number of exploration targets (Gossokorodji, Diaban, Foroko North). Ultimately, we expect the total gold Resource, including Kobada, to exceed 5 M oz Au.
  • Good Team—The Company has worked in Mali for many years and has personnel with experience in the development of other gold mines in Mali. The Company’s management has a proven track record in the capital markets and in mining in West Africa.
  • Good Jurisdiction—Mali is a good jurisdiction in which to develop new mines. The geology is excellent and the domestic workforce is inexpensive. The oxide deposits are near surface with good metallurgy and can be mined  for the most part at a low strip ratio. In addition, the country allows permitting prior to the completion of a Feasibility Study.
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