非洲黄金集团

*路透集团是本新闻稿中的内容不承担任何责任。 周三2011年7月13日美东时间上午9:00

安大略省多伦多7月13日（MARKET WIRE） - 非洲黄金集团，公司（“AGG”或“本公司”）（TSX VENTURE：AGG）欣然宣布积极的符合NI 43-101标准的结果初步经济评估（“PEA”或“Study”），用于评估一个开放的坑，批量挖掘模型，利用重力的潜力回收处理厂，于本公司的Kobada（马里）金矿项目。该咨询组Bumigeme公司，坐落在蒙特利尔，魁北克，委托AGG完成研究。

研究集成和包括2010年12年底的钻探数据。有没有从2011年的活动包括在钻孔数据研究。更具体地说，该研究并没有纳入钻孔数据延长1区以北2公里的北延孔1区的矿床，不纳入2011年南部孔或新发现的Foroko北矿床，也不是新发现白蚁区，后两者是和独特的结构1区。

工程经济学 - 基本情况 PEA估计税后净现值（NPV）为US216.9百万美元，税后内部收益率90.57％的回报率（IRR）使用1,100美元每盎司黄金的基本情况贴现率为5％。

Kobada项目基地的情况是每天处理20,000吨，总数为7,000,000吨，每年在重力工艺厂预计将恢复87.9％的41,750,000吨所含的黄金红土材料化验0.克/吨，平均年产量126600盎司黄金操作的第一个五年。平均每年的营运成本计算为：US $ 8.27 /吨矿石的第一五年的经营与资本性支出122,500,000美元。该项目生产黄金盎司的直接成本每股470.90美元美国。4年期间经营资本支出将增加290万美元 此外，球磨机中，将需处理的硫化物的资源。6年的平均经营成本将增加至$ 8.73 /吨矿石。黄金在今年6恢复和生产预计将达到80.80％ 和112,200盎司金，分别。

研究的主要亮点如下： - 研究表明，的Kobada金矿项目在经济上是 优化通过采用大量开采与选择性开采。直接 批量开采的影响表现在大幅增加 矿石吨位和收回的黄金，但具有关联减少 平均黄金品位。 - AGG董事及合资格人士，皮埃尔先生拉朗德，地质学家，有 建议出土的所有材料100％之间的挂壁 矿化带的下盘，在重力处理 含粗免费黄金在红土存款厂 强的“狗头效应”。它是这样的特征，由于风化，使服从Kobada黄金回收利用重力。先生拉朗德辩称，钻孔取样密度增加开采的金矿，品位控制在西非过程中往往会变成多少 “废矿石”的可行性研究估计到增量矿石。

- 在露天的地质及资源，在这项研究中详述 只投影到相对于投影的垂直深度160米 深度为260米的AGG 43-101初始资源估算 2008年5月出版的。此修正案反映AGG的主要 专注于氧化地平线存款。因此，大部分的 硫化物资源量在5月，2008年被列入 初始资源估算不包括在这项研究中。

基本情况经济学 - 1,100美元盎司金，5％的折扣率

-------------------------------------------------- ------------------------ IRR返回净现值 股东权益（％）周期值（百万） -------------------------------------------------- ------------------------ 50％90.6 14个月216.9美元 -------------------------------------------------- ------------------------

摘要资本成本（CAPEX）

-------------------------------------------------- -------------------------- 说明C $ -------------------------------------------------- -------------------------- 矿业34,404,000 -------------------------------------------------- -------------------------- 选矿厂305760 -------------------------------------------------- -------------------------- 基础设施和服务29016650 -------------------------------------------------- -------------------------- 人事住宿2,100,000 -------------------------------------------------- -------------------------- 小计960710 -------------------------------------------------- --------------------------

-------------------------------------------------- -------------------------- EPCM（12.5％）12009426 -------------------------------------------------- -------------------------- 杂项（15％）14411312 -------------------------------------------------- -------------------------- 小计220738 -------------------------------------------------- --------------------------

-------------------------------------------------- -------------------------- 总资本开支122496148 -------------------------------------------------- --------------------------

摘要运营成本（OPEX）

-------------------------------------------------- -------------------------- 说明C $ /年 -------------------------------------------------- -------------------------- 采矿15122267 -------------------------------------------------- -------------------------- 选矿厂31411184 -------------------------------------------------- -------------------------- 管理和服务2,591,319 -------------------------------------------------- -------------------------- 人事住宿1,236,000 -------------------------------------------------- -------------------------- 小计50360770 -------------------------------------------------- --------------------------

-------------------------------------------------- -------------------------- 杂项（15％）75116 -------------------------------------------------- --------------------------

-------------------------------------------------- -------------------------- 总运营成本57914886 -------------------------------------------------- --------------------------

-------------------------------------------------- -------------------------- 营业成本8.27 /吨 -------------------------------------------------- --------------------------

IRR与经营成本变化

项目组件成本变化的敏感性证明 如下所示：

-------------------------------------------------- -------------------------- 运营成本薪返回净现值内部收益率IRR变化 变化（％）期（月）值（M）（％）（％） -------------------------------------------------- -------------------------- -25 11 $ 286.7 114.9 +26.8 -------------------------------------------------- -------------------------- 12 -15 $ 258.8 105.2 +16.1 -------------------------------------------------- -------------------------- 基地14 $ 216.9 90.6 - -------------------------------------------------- -------------------------- +15 16 $ 175.0 75.7 -16.4 -------------------------------------------------- -------------------------- +25 18 $ 147.1 65.6 -27.6 -------------------------------------------------- --------------------------

内部收益率与黄金价格敏感度

该项目是在市场上黄金价格的变化敏感 表现在下面的敏感性分析。1,100美元/盎司黄金 代表研究的基本情况：

-------------------------------------------------- -------------------------- 黄金价格支付返回净现值IRR 变异美元期间（月）值（M）（％） -------------------------------------------------- -------------------------- $ 900 23 $ 103.2 48.8 -------------------------------------------------- -------------------------- $ 1,000 17 $ 160.1 70.1 -------------------------------------------------- -------------------------- $ 1,100 14 $ 216.9 90.6 -------------------------------------------------- -------------------------- $ 1,200 11 $ 273.7 110.7 -------------------------------------------------- -------------------------- $ 1,450 8 $ 415.8 160.1 -------------------------------------------------- --------------------------

整体矿坑库存，稀释后（公吨，平均品位）

基于矿化的几何形状，地质和采矿的大小 设备，但预计将有大约5％的 稀释。稀释材料的档次，估计在0.1克/吨。

-------------------------------------------------- -------------------------- 稀释前的矿石量（千吨）39,763 -------------------------------------------------- -------------------------- 稀释前级（克/吨）0.67 -------------------------------------------------- -------------------------- 废物稀释前吨位（千吨）71,195 -------------------------------------------------- -------------------------- 稀释前的剥采比1.79 -------------------------------------------------- -------------------------- 稀释5％ -------------------------------------------------- -------------------------- 来自废物稀释吨位（千吨）1,988 -------------------------------------------------- -------------------------- 稀释品位（克/吨）0.10 -------------------------------------------------- -------------------------- 稀释后的矿石量（千吨）41,751 -------------------------------------------------- -------------------------- 稀释后的平均品位（克/吨）0. -------------------------------------------------- -------------------------- 稀释后的废物吨位（千吨）69,207 -------------------------------------------------- -------------------------- 稀释后的剥采比1.66 -------------------------------------------------- --------------------------

生产速度

从一般的经验和矿山生产率估计 一般的参考书。

-------------------------------------------------- -------------------------- 矿石（T）417506 -------------------------------------------------- -------------------------- 废物（T）69206672 -------------------------------------------------- -------------------------- 总计（T）110957568 -------------------------------------------------- -------------------------- 预期矿山寿命（年）6 -------------------------------------------------- -------------------------- 预计每日产量（矿石）（T）20,000 -------------------------------------------------- -------------------------- 剥采比1.66 -------------------------------------------------- -------------------------- 预计每日生产（废物）（吨）33,152 -------------------------------------------------- -------------------------- 预计每日产量（矿石和废石）（T）53,152 -------------------------------------------------- --------------------------

地质资源估计从表面垂直深度160米

从表面计算的资源估计在这项研究报告 垂直深度160米，较AGG 2008年的初始资源量 估计到的垂直深度260米的计算。正如前面所 指出，这项修正反映了AGG的主要焦点氧化 地平线上的存款。因此，大多数硫化物的体积 资源，包括在5月，2008年初始资源估算 不包括在这项研究中。

水平多边形块的方法被用于这项研究，总 八（8）水平计划从钻探数据与多边形生成 设置为计划之间的距离为20米的垂直影响。品位 0.1克/吨金是用来定义矿化信封的存款。该 使用比重为1.9克/米（3），它代表一个30/70的妥协 石英2.5（WGM使用）和1.6（AGG内部腐泥土之间 测试战壕报告）。预计地质解释 的底部平面图。这就是说，块大小的平均值和等级 380块从380米至400米。同样会 申请矿坑设计。

-------------------------------------------------- -------------------------- 层面切吨位品位（克/吨）（克/吨）盎司金分类 -------------------------------------------------- -------------------------- 240-400 0.1 71211336 0.48 1,093,000资源 -------------------------------------------------- -------------------------- 240-400 0.3 36133759 0.77 3,000资源 -------------------------------------------------- -------------------------- 240-400 0.5 19167747 1.12 6,000资源 -------------------------------------------------- --------------------------

坑参数

参数建议的凹坑中由壁主要是出于 的几何形状和生产速度。的壁的几何形状取决于 岩土行为的岩石。岩土的一项研究将 进行可行性研究的一部分，这是目前正在进行中。 本报告中使用的假设是基于对地质。该计划 坑将有一个160米的深度，在不腐泥岩层形成 需要爆破。风化影响墙面的角度。

从现有资料看，我们建议，之前的结果 岩土工程研究，要考虑以下配置：

- 台阶高度10米

- 斜坡宽度：18 M

- 斜坡级：10％

- 护堤宽度？：5米

- 护堤频率：每20米;

- 最低所需的工作空间：50平方公尺;

- 板凳面角度：71度。

- 总体坑角：整体坑角度考虑考虑护堤和一个 坡道约36度。

“与我们的金Kobada项目相关的经济我都很优秀。 有超过30年的工作经验，在西非和 参与众多红土存款的发展，其中 七（7）现在生产。我的经验告诉我， 增加：1 /采样密度;支持2 /样品或重量; 3 /等分 的材料的量实际分析，有很强的有利于 增加原位含金量。历史记录表明， Kobada最初使用15克至30克的火法（FA）分析 含金量分析。AGG收购Kobada的在2006年开始其 样品分析程序使用50克火法（FA50）。AGG提交了一份 共4,280个样本在2006年和2007年核心双分析 钻探计划。屏幕火法（SFA）千克等分报告11％ 含金量较高时相比，相同的样品分析使用FA50。 在2009年，我管理，全由一个手臂的RC钻探计划 长公司。本公司充分好奇调查我 假说金Kobada可以使用重力恢复 单独回收厂。钢筋混凝土钻孔产生了较大样本的支持和 与历史的核心和旋转鼓风钻井等分。我 使用一个显着更大的2000克等分推荐分析 的Leachwell分析与历史15克，30克和50克的足总杯和1000 克SFA。我的RC钻探计划增加黄金使用Leachwell分析 品位31％。作为整体计划的一部分，我建议冶金 287从127公斤钢筋混凝土切割复合进行测试 来自8个不同的RC钻孔样品。冶金测试 包括脱泥，随后由重力和分开，氰化 除掉矿泥的部分。脱矿泥部分可收回重力 金品位4.28克/吨，金10公斤等分而重复50克FA 相同的部分等分给了1.07克/吨金。根据我的经验，我 国家有信心，Kobada将成为生产矿 不久的将来，我预测这将是一个非常有利可图的，成本低， 重力操作，“AGG董事，地质学家，皮埃尔·拉朗德。

合资格人士

初步经济评估准备下由Bumigeme公司 的弗洛朗巴里尔监督，专业工程师。谁是“合资格人士” 根据NI 43-101标准中规定。皮埃尔先生拉朗德，地质学家， AGG主任是本公司指定的合资格人士的 该研究的目的。所有各方已审阅并批准其 本新闻稿中的相应内容。

研究出版

该研究原本是准备在法国和目前正在 翻译成英文。AGG打算让研究可在SEDAR 在收到最终的英文版本。

非洲黄金集团，公司总部设在加拿大多伦多，是一家从事 准金项目的识别，获取和探索 位于西非内沿显着的黄金走势。至 日，本公司共控制11金让步 合并在四个不同的的勘探项目。三 这些项目位于加纳和一个项目位于（Kobada） 在西非马里。

附加信息可在公司网站 www.africangoldgroup.com www.sedar.com和公司 办事处：永明金融大厦2518室，圣得西150号， 加拿大多伦多M5H 1J9

代表董事会：

迈克尔AJ Nikiforuk，总裁，董事

多伦多创业交易所不评论，不接受 本新闻稿的充分性或准确性负责。

联系方式： 非洲黄金集团有限公司 AJ Nikiforuk迈克尔 （416）4-82分机101 info@africangoldgroup.com www.africangoldgroup.com

版权所有2011年，市场电线，保留所有权利。 African Gold Group, Inc. Positive Preliminary Economic Assessment Generates $216.9 Million NPV and 90% IRR

* Reuters is not responsible for the content in this press release. Wed Jul 13, 2011 9:00am EDT

TORONTO, ONTARIO, Jul 13 (MARKET WIRE) -- African Gold Group, Inc., (\"AGG\" or the \"Company\") (TSX VENTURE:AGG) is pleased to announce the results of a positive NI 43-101 compliant Preliminary Economic Assessment (the \"PEA\" or the \"Study\") that evaluates the potential of an open pit, bulk mining model, utilizing a gravity recovery process plant, at the Company's Kobada (Mali) gold project. The consulting group Bumigeme Inc., located in Montreal, Quebec, was commissioned by AGG to complete the study.

The Study incorporates and includes drill data up to the end of December,2010. There is no drill data from the 2011 campaign included in theStudy. More specifically, the Study does not incorporate drill data for the northern extension holes that extend Zone 1 up to 2 kilometers north of the Zone 1 deposit, it does not incorporate the 2011 southern holes or the newly discovered Foroko North deposit, nor the newly discovered Termite Zone, the latter two are separate and distinct structures from Zone 1.

Project Economics - Base Case

The PEA estimates an after-tax Net Present Value (NPV) of US$216.9 million from commencement of construction and an after-tax Internal Rate Of Return (IRR) of 90.57% using a base case of US$1,100 per ounce of gold and a discount rate of 5%.

The Kobada project base case is for processing 20,000 tonnes per day fora total of 7,000,000 tonnes per year in a gravity process plant that is projected to recover 87.9% of the gold contained in 41,750,000 tonnes of lateritic material assaying 0. g/t Au, for average annual production of 126,600 ounces of gold for the first five years of operation. The average annual operating cost is calculated to be US$8.27/t of ore for the first five years of operation with a CAPEX of US$122,500,000. The project produces gold at the direct cost of US$470.90 per ounce. During years 4 and 5 of operations the CAPEX will be increased by US$2.9 million for the addition of a ball mill that will be required to process the sulphide resource. The average operating cost at year 6 will increase to US$8.73/t of ore. Gold recovery and production in year 6 is projected to be 80.80% and 112,200 ozs Au, respectively.

Key highlights from the Study are as follows:

-- The Study demonstrates that the Kobada gold project is economically optimized by adopting bulk mining versus selective mining. The direct implications of bulk mining are demonstrated in a substantial increase in ore tonnage and recoverable gold but with an associated decrease in the average gold grade.

-- AGG Director and Qualified Persons, Mr. Pierre Lalande, P.Geo., has recommended that 100% of all material excavated between the hanging wall and footwall of the mineralized zone be processed in the gravimetric plant as lateritic deposits containing coarse free gold result in a strong \"nugget effect\". It is this characteristic, due to weathering, that makes Kobada amenable to utilizing gravity for gold recovery. Mr. Lalande contends that the increase in sampling density of drilling during grade control of mined deposits in West Africa often turns much \"in ore waste\" of feasibility study estimates into incremental ore.

-- The geological and in-pit resources that are detailed in this study are only projected to a vertical depth of 160 meters versus the projected depth of 260 meters in AGG's 43-101 compliant Initial Resources Estimate that was published in May of 2008. This amendment reflects AGG's primary focus on the oxidized horizon of the deposit. Therefore, most of the volume of the sulphide resource that was included in the May, 2008 Initial Resources Estimate is not included in this Study.

Base Case Economics - US$1,100 oz Au, 5% Discount Rate

-------------------------------------------------------------------------- IRR Pay Back Net Present EQUITY (%) Period Value $(M) --------------------------------------------------------------- 50% 90.6 14 months 216.9--------------------------------------------------------------------------

Summary of Capital Costs (CAPEX)

---------------------------------------------------------------------------- Description C$ ---------------------------------------------------------------------------- Mining 34,404,000 ---------------------------------------------------------------------------- Concentrators 30,5,760 ---------------------------------------------------------------------------- Infrastructures and services 29,016,650 ---------------------------------------------------------------------------- Personnel accommodations 2,100,000 ---------------------------------------------------------------------------- Sub-Total 96,075,410 ----------------------------------------------------------------------------

---------------------------------------------------------------------------- EPCM (12.5%) 12,009,426 ---------------------------------------------------------------------------- Miscellaneous (15%) 14,411,312 ---------------------------------------------------------------------------- Sub-Total 26,420,738 ----------------------------------------------------------------------------

---------------------------------------------------------------------------- Total CAPEX 122,496,148 ----------------------------------------------------------------------------

Summary of Operating Costs (OPEX)

---------------------------------------------------------------------------- Description C$/Year ---------------------------------------------------------------------------- Mining 15,122,267 ---------------------------------------------------------------------------- Concentrators 31,411,184 ---------------------------------------------------------------------------- Administration and services 2,591,319 ---------------------------------------------------------------------------- Personnel accommodations 1,236,000 ---------------------------------------------------------------------------- Sub-total 50,360,770 ----------------------------------------------------------------------------

---------------------------------------------------------------------------- Miscellaneous (15%) 7,5,116 ----------------------------------------------------------------------------

---------------------------------------------------------------------------- Total OPEX 57,914,886 ----------------------------------------------------------------------------

---------------------------------------------------------------------------- Operating Cost/t 8.27 ----------------------------------------------------------------------------

IRR vs Operating Cost Variation

The projects sensitivity to variation in cost components is demonstrated as follows:

---------------------------------------------------------------------------- Operation Cost Pay Back Net Present IRR IRR Variation Variation (%) Period (month) Value (M) (%) (%) ---------------------------------------------------------------------------- -25 11 $286.7 114.9 +26.8 ---------------------------------------------------------------------------- -15 12 $258.8 105.2 +16.1 ---------------------------------------------------------------------------- Base 14 $216.9 90.6 - ---------------------------------------------------------------------------- +15 16 $175.0 75.7 -16.4 ---------------------------------------------------------------------------- +25 18 $147.1 65.6 -27.6 ----------------------------------------------------------------------------

IRR vs Gold Price Sensitivity

The project is sensitive to changes in the market prices for gold as demonstrated in the following sensitivity analysis. US$1,100/oz Au represents the Base Case of the Study:

---------------------------------------------------------------------------- Gold Price Pay Back Net Present IRR Variation $US Period (month) Value (M) (%) ---------------------------------------------------------------------------- $900 23 $103.2 48.8 ---------------------------------------------------------------------------- $1,000 17 $160.1 70.1 ---------------------------------------------------------------------------- $1,100 14 $216.9 90.6 ---------------------------------------------------------------------------- $1,200 11 $273.7 110.7 ---------------------------------------------------------------------------- $1,450 8 $415.8 160.1 ----------------------------------------------------------------------------

Overall Pit Inventory, After Dilution (Metric Tonnes and Average Grade)

Based on the mineralization geometry, the geology and the size of mining equipment, it is anticipated that there will be approximately 5% dilution. The grade of the diluting material is estimated at 0.1 g/t.

---------------------------------------------------------------------------- Ore tonnage before dilution (kt) 39,763 ---------------------------------------------------------------------------- Grade before dilution (g/t) 0.67 ---------------------------------------------------------------------------- Waste tonnage before dilution (kt) 71,195 ---------------------------------------------------------------------------- Stripping ratio before dilution 1.79 ---------------------------------------------------------------------------- Dilution 5% ---------------------------------------------------------------------------- Diluting tonnage coming from waste (kt) 1,988 ---------------------------------------------------------------------------- Diluting grade (g/t) 0.10 ---------------------------------------------------------------------------- Ore tonnage after dilution (kt) 41,751 ---------------------------------------------------------------------------- Average grade after dilution (g/t) 0. ---------------------------------------------------------------------------- Waste tonnage after dilution (kt) 69,207 ---------------------------------------------------------------------------- Stripping ratio after dilution 1.66 ----------------------------------------------------------------------------

Rate of Production

The mine production rate was estimated from general experience and from general reference books.

---------------------------------------------------------------------------- Ore (t) 41,750,6 ---------------------------------------------------------------------------- Waste (t) 69,206,672 ---------------------------------------------------------------------------- Total (t) 110,957,568 ---------------------------------------------------------------------------- Expected Mine Life (years) 6 ---------------------------------------------------------------------------- Expected Daily production (Ore) (t) 20,000 ---------------------------------------------------------------------------- Stripping ratio 1.66 ---------------------------------------------------------------------------- Expected Daily production (Waste) (t) 33,152 ---------------------------------------------------------------------------- Expected Daily production (Ore and Waste) (t) 53,152 ----------------------------------------------------------------------------

Geological Resources Estimate From Surface To 160 Meters Vertical Depth

The resources estimate reported in this Study are calculated from surface to a vertical depth of 160 m as compared to AGG's 2008 initial resources estimate that was calculated to a vertical depth of 260 m. As previously stated, this amendment reflects AGG's primary focus on the oxidized horizon of the deposit. Therefore, most of the volume of the sulphide resource that was included in the May, 2008 Initial Resources Estimate is not included in this Study.

The horizontal polygon block method was used for this Study and a total of eight (8) horizontal plans were generated from drill data with polygon vertical influence set to a distance of 20 m between plans. The grade of 0.1 g/t Au is used to define the mineralized envelope of the deposit. The specific gravity used is 1.9 g/m(3), which represents a 30/70 compromise between quartz at 2.5 (used by WGM) and saprolite at 1.6 (AGG internal test report from trenches). The geological interpretation was projected to the bottom plan. This means that the average block size and grade for the 380 level represents the block from 380 m to 400 m. The same will apply for the pit design.

---------------------------------------------------------------------------- Levels Cut (g/t) Tonnage Grade (g/t) Ounces Au Categories ---------------------------------------------------------------------------- 240-400 0.1 71,211,336 0.48 1,093,000 Resources ---------------------------------------------------------------------------- 240-400 0.3 36,133,759 0.77 3,000 Resources ---------------------------------------------------------------------------- 240-400 0.5 19,167,747 1.12 6,000 Resources ----------------------------------------------------------------------------

Pit Parameters

The parameters of the proposed pit are dictated mainly by the wall geometry and the production rate. The wall geometry depends on the geotechnical behaviour of the rock. A geotechnical study will be undertaken as part of a Feasibility Study, which is currently underway. The assumptions used in this report are based on the geology. The planned pit will have a depth of 160 m, in a saprolitic formation which does not require blasting. Weathering can affect the wall angles.

From the available information, it is suggested, prior to the results of a geotechnical study, to consider the following configuration:

-- bench height: 10 m

-- ramp width: 18 m

-- ramp grade: 10%

-- berm width: 5 m

-- berm frequency: every 20 m;

-- minimum working space required: 50 m;

-- bench face angle: 71 degrees.

-- Overall pit angle: Overall pit angle taking into account berms and one ramp access is approximately 36 degrees.

\"The economics associated with our Kobada gold project are outstanding. I have in excess of 30 years of working experience in West Africa and have participated in the development of numerous lateritic deposits, of which seven (7) are now in production. My experience has taught me that increasing: 1/ sampling density; 2/ sample support or weight; 3/ aliquot or the amount of material actually analyzed, are strongly beneficial to increasing in situ gold content. The historical records indicate that Kobada was originally analyzed using 15 g to 30 g fire assay (FA) for gold content analysis. AGG acquired Kobada in 2006 and commenced its sample analysis program using 50 g fire assay (FA50). AGG submitted a total of 4,280 samples to dual analysis in the 2006 and 2007 core drilling program. Screen fire assay (SFA) of 1,000 g aliquot reported 11% higher gold content when compared to the same sample analyzed using FA50. In 2009, I managed a RC drill program that was fully funded by an arm's length company. This company was sufficiently intrigued to investigate my hypothesis that Kobada gold could be recovered using a gravimetric recovery plant alone. RC drilling generated a larger sample support and aliquot versus historical core and rotary air blast drilling. I recommended analyzing using a significantly larger 2,000 g aliquot by Leachwell analysis versus the historical 15 g, 30 g and 50 g FA and 1,000 g SFA. My RC drill program using Leachwell analysis increased the gold grade by 31%. As part of the overall program, I recommended metallurgical testing be conducted on a 287 kg RC cutting composite made up from 127 samples derived from 8 distinct RC drill holes. The metallurgical tests included desliming, followed by both gravity and, separately, cyanidation of the deslimed portion. The deslimed portion had a gravity recoverable gold grade of 4.28 g/t Au from a 10 kg aliquot while duplicate 50 g FA aliquots of the same portion gave 1.07 g/t Au. Based on my experience, I state with confidence that Kobada will become a producing mine in the near future and I predict it will be a highly profitable, low cost, gravimetric operation,\" states AGG Director, Pierre Lalande, P.Geo.

Qualified Person

The Preliminary Economic Assessment was prepared by Bumigeme Inc. under the supervision of Florent Baril, P. Eng. who is a \"qualified person\" under the standards set forth in NI 43-101. Mr. Pierre Lalande, P.Geo, AGG Director is the Company's designated Qualified Persons for the purposes of the Study. All parties have reviewed and approved their respective content of this press release.

Publication of the Study

The Study was originally prepared in French and is currently being translated into English. AGG intends to make the Study available on SEDAR upon receipt of the final English version.

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.

Additional Information is available on the Company's website at www.africangoldgroup.com and on www.sedar.com and through the Company's offices at: Sun Life Financial Tower, Suite 2518, 150 King St. West, Toronto, Canada M5H 1J9

On Behalf of the Board:

Michael A. J. Nikiforuk, President, Director

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

Contacts: African Gold Group, Inc. Michael A. J. Nikiforuk (416) 4-82 ext 101 info@africangoldgroup.com www.africangoldgroup.com

Copyright 2011, Market Wire, All rights reserved. -0-