Kobada Gold Project - Feasibility Study

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Kobada Gold Project - Appendices to the Feasibility Study

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Dear Investors,

We wish to bring your attention to Dr. Allen Alper’s article in this week's MetalsNews.com newsfeed.

Metals News Snippets

"African Gold Group (TSX: AGG) is currently advancing the Kobada gold project located in Mali, with a completed economic assessment and plans to pursue equity and debt financing. Data indicates that the Kobada Gold project will have a low CAPEX and OPEX with a 511,000 ounce gold reserve.

Declan Franzmann, President and CEO of African Gold Group (TSX: AGG) is currently leading his company to advance the Kobada Gold Project in Mali as their flagship project.

Franzmann has a long history in mining. He said, “I’m a mining engineer. I have been in mining for the last 24 years. I have done a mixed bag of things; from working as a miner underground, to running an entire operation, to a managing director role. Most of my experience is in gold.”

With his experience, African Gold Group has been focused on their Kobada Gold Project in Mali. Franzmann said, “We have been doing quite a bit of work this last few years in quite difficult market conditions. We pushed the project through a preliminary economic assessment back in 2014 and now we have followed through with a feasibility study on the project, which really confirms the findings of the PEA. The feasibility study is mostly focused on our funding initiatives for the project. So in the last two years, we have managed to pull the mining license together, and have managed to get all of the environmental permits for the project. We have put together a 511,000 ounce reserve on the deposit as well. Really the focus now is to move forward with our funding initiatives and to get into a development stage.”"

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Dclen Franzmann Q And A W MAGIC

 

As part of continuing research being conducted by Global Business Reports (GBR), Declan Franzmann, President & CEO of the African Gold Group had a question & answer session with Mining In Africa Country Investment Guide (MAGIC).

About MAGIC

Global Business Reports (GBR) and African Mining Indaba LLC is a partnership for the production of a comprehensive intelligence report on the continent’s mineral sector. The third edition of the Official Mining in Africa Country Investment Guide, will be launched next February 2016, as the only official publication providing country-specific information at Africa’s top mining event, the 2016 Investing in Africa Mining Indaba™ held in Cape Town, South Africa.

With 54 sovereign African nations, Africa is arguably the most culturally, politically and geological diverse continent in the world. MACIG aims to guide the global mining and investment community through the challenges and opportunities of this resurgent continent, explaining the issues they must be aware of, highlighting those governments who welcome their investment and emphasizing the sheer scale of the mineral wealth available.

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Toronto, Ontario – African Gold Group, Inc. (TSX-V: AGG) ("AGG" or the "Company") is pleased to announce that it has entered into a transaction with respect to the sale of AGG Ghana Limited (AGG Ghana), the Company’s 100% owned Ghanaian subsidiary. All of the Company’s assets in Ghana are held in AGG Ghana.

The sale of the subsidiary achieves the Company’s stated aim of monetizing inherent value from its non-core assets and provides non-dilutive funding, including for the final completion of the full Feasibility Study at AGG’s Kobada Gold Project in Mali, expected this month. Moving forward, the Company’s sole focus will be putting Kobada into production.

Divestment of AGG Ghana Limited

AGG has entered into a sale and purchase agreement with Star Goldfields Limited (SGF), a private Ghanaian company. SGF has agreed to purchase the shares in AGG Ghana for a total cash consideration of US$1,200,000.

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