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African Gold Group, Inc. (AGG.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.15500.0000 (0.00%)
At close: 3:10PM EST
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Previous Close0.1550
Open0.1500
Bid0.1500 x 0
Ask0.1600 x 0
Day's Range0.1450 - 0.1600
52 Week Range0.1000 - 0.3800
Volume210,001
Avg. Volume234,992
Market Cap23.09M
Beta (5Y Monthly)2.46
PE Ratio (TTM)N/A
EPS (TTM)-0.0680
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.78
  • African Gold Group Announces Significant Intersections Including 41.80 g/t Au and 19.70 g/t Au in its Ongoing Phase 4 Drilling Campaign
    GlobeNewswire

    African Gold Group Announces Significant Intersections Including 41.80 g/t Au and 19.70 g/t Au in its Ongoing Phase 4 Drilling Campaign

    Figure 1 Plan view of drilling campaign at Kobada. Significant drill intersections and cumulative mineralizationTORONTO, Jan. 13, 2021 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to provide an update on the ongoing exploration drilling programme and the recent significant drilling results at the Kobada Gold Project (“Kobada”) on its Phase 4 infill drilling programme targeting an upgraded resource model in early 2021. Highlights: * Significant new drill intersects at the main shear zone of the Kobada Gold Project. Drilling highlights include: * 11.95 g/t Au over 4.0 m from 39.0 m to 43.0 m (Drill hole KB20_PH4A_31) * Including 3.78 g/t Au over 1.0 m * And 41.80 g/t Au over 1.0 m * 4.49 g/t Au over 6.50 m from 167.0 to 173.5 m (Drill hole KB20_PH4A_28) * Including 19.70 g/t Au over 1.40 m * 1.21 g/t Au over 10.0 m from 38.0 to 48.0 m (Drill hole KB20_PH4A_27) * Including 4.19 g/t Au over 1.0 m * And 4.07 g/t Au over 1.0 m * The drill program has extended the depth of the oxide-sulphide boundary from an anticipated 110 m to a more realistic 180 m at the northern extensions of the main shear zone, representing an approximate 60% increase. * This has highlighted the continuity of the mineralization in oxides at depth beneath the current pit design apart from the presence of high grades in sulphides to support potential future underground mining at Kobada. * High grade gold mineralisation, plus numerous recent strong intersections consistently reported from outside the mineral resource estimate in the NI 43-101 Technical Report on Kobada Gold Project dated June 17, 2020 (the “2020 DFS”) will be incorporated in the next mineral resource estimate update for early 2021.To date, the Company has drilled 6,257.50 metres of combined Diamond Drilling (“DD”) and Reverse Circulation (“RC”) with encouraging results continuing to show deeper than anticipated extensions of the orebody.The Company has completed Phase 4A drilling aimed at upgrading the inferred resource in oxides at the northern extension of the current pit design at Kobada concessions. After evaluating the results, the Company intends to continue with Phase 4B and C, aiming at the conversion of the majority of the 575,000 ounces of inferred oxide resources. The technical team is encouraged with the large number of high-grade intersections at very shallow levels, as well as at deeper levels, but still in the “soft-rock” saprolite, which extends deeper than originally anticipated, thereby increasing the volume of the known orebody.The Company's key internal goal for the Q1 2021 is to further show the considerable potential for increased resource base at Kobada Gold Project. The Company expects to incorporate the results of the drilling programme in the next mineral resource estimate update on track for early 2021.Dr. Andreas Rompel, Vice President Exploration of AGG, commented:“We are very happy to report more high-grade results from our highly successful endeavour to upgrade a portion of our inferred resource in the oxides to the indicated and measured category. Furthermore, we have discovered that a large portion of this orebody has oxides reaching deeper into the ground than originally anticipated, thus, leading to an unforeseen increase in volume of rock that we can mine in a future open pit. After a short break, we intend to continue pursuing this high-grade zone even further north along this highly prolific shear zone and, with additional resources, test its gold-bearing neighbouring shear zones.”Overview of Drilling ProgrammeThe Company`s exploration drilling programme is focused on the following targets: * Increase resource from newly identified shear zones at Kobada, Faraba and Kobada Est concessions (Phase 3) * Conversion of the inferred resources to measured and indicated category, with the goal of expanding the Reserve base to over 1 Moz (Phase 4) * Strike extension of the main shear zone at Kobada concession (Phase 5)The Company intends to continue drilling for the northern strike extension of the highly prolific Kobada Shear (Phase 5 ABC) and at its neighbouring shear zone, the Gosso Shear, where the initial drilling results have confirmed gold mineralisation not only at surface, but also down dip at depth (Phase 3 ABC).Drill rigs have been operating since early September 2020, and despite heavy rains, the Company has made very good progress in its exploration drilling programme. To date, 6,257.50 m have been drilled, of which 4,035 m were RC and 2,222.50 m were DD. The assay results from the infill drilling campaign on the Kobada main shear zone have confirmed that to date, large portions of the geological model correlate positively with the existing inferred resource estimate.Figure 1: Plan view of drilling campaign at Kobada. Significant drill intersections and cumulative mineralization: https://www.globenewswire.com/NewsRoom/AttachmentNg/af6690e1-732d-4666-bb0f-f6d5e9b5600aThe Kobada Gold Project The Kobada Gold Project is an advanced stage gold development project located in Mali, Africa’s 4th largest gold producing country. The property is located 126 km south-west of Bamako, the capital city of Mali, in the Birimian Greenstone Belt, with excellent transportation links to the capital and excellent logistics routes via other West African ports.In July 2020, the Company released an updated definitive feasibility study that showed Kobada`s potential as a highly profitable standalone mine, delivering IRR of 45.5% and NPV of US$284 m, with an AISC of US$788/oz Au.The Company continues to advance the Kobada Gold Project through an exploration drilling programme in parallel to negotiations on securing the financing for the construction of the project. Advanced discussions with several institutional investors are underway.About African Gold GroupAfrican Gold Group is a TSX Venture Exchange (TSX-V: AGG) listed exploration and development company with a focus on building Africa’s next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production. AGG’s principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed the 2020 DFS and is targeting gold production of 100,000 oz per annum by Q2 2022. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering potential for an increase in resource. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.Qualified PersonThe scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.For more information:Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@africangoldgroup.comScott Eldridge Non-Executive Chairman of the Board (604) 722-5381 Scott.Eldridge@africangoldgroup.comDaniyal Baizak  VP Corporate Development(647) 835-9617 Daniyal.Baizak@africangoldgroup.comCamarco (Financial PR) Gordon Poole Nick Hennis +44 (0) 20 3757 4997 AfricanGoldGroup@camarco.co.ukCautionary statements This press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the Company’s drilling and exploration programmes, expectations of increase in resources or reserves at the Kobada Gold Project, timeline for delivery of future mineral resource estimates and extensions of orebody depth and length. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.  Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‑looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Table 1: Assay results from the mineralized zone Mineralized ZoneIncludes BHIDFromToComposite Length (m)Composite Grade (g/t)FromToIncludes (m)Includes (g/t) KB20_PH4A_2718.0025.007.000.5519.0020.001.001.20 KB20_PH4A_27    24.0025.001.001.30 KB20_PH4A_2738.0048.0010.001.2143.0044.001.004.07 KB20_PH4A_27    46.0047.001.004.19 KB20_PH4A_27    47.0048.001.001.94 KB20_PH4A_27102.00106.004.000.40     KB20_PH4A_27155.00157.002.008.43155.00155.550.5529.30 KB20_PH4A_28124.00126.002.000.75     KB20_PH4A_28143.50147.003.500.81145.50147.001.501.56 KB20_PH4A_28167.00173.506.504.49168.50169.901.4019.70 KB20_PH4A_3139.0043.004.0011.9539.0040.001.003.78 KB20_PH4A_31    40.0041.001.001.70 KB20_PH4A_31    41.0042.001.0041.80 KB20_PH4A_3159.0060.001.0012.3059.0060.001.0012.30 KB20_PH4A_3171.0077.006.000.3973.0074.001.001.49 KB20_PH4A_3191.0092.001.001.9091.0092.001.001.90 KB20_PH4A_31124.00133.009.000.58125.00126.001.001.33 KB20_PH4A_31    132.00133.001.001.11 Cumulative Mineralization WidthsBHIDCumulative Mineralization Width (m)Mean Grade (g/t) KB20_PH4A_2723.001.49 KB20_PH4A_2812.002.79 KB20_PH4A_3121.003.31 Significant Intersections (above 1 g/t Au) BHIDFromToIntersection Length (m)Au_Final (g/t) KB20_PH4A_2719.0020.001.001.20 KB20_PH4A_2724.0025.001.001.30 KB20_PH4A_2743.0044.001.004.07 KB20_PH4A_2746.0047.001.004.19 KB20_PH4A_2747.0048.001.001.94 KB20_PH4A_27155.00155.550.5529.30 KB20_PH4A_28145.50147.001.501.56 KB20_PH4A_28168.50169.901.4019.70 KB20_PH4A_3139.0040.001.003.78 KB20_PH4A_3140.0041.001.001.70 KB20_PH4A_3141.0042.001.0041.80 KB20_PH4A_3159.0060.001.0012.30 KB20_PH4A_3173.0074.001.001.49 KB20_PH4A_3191.0092.001.001.90 KB20_PH4A_31125.00126.001.001.33 KB20_PH4A_31132.00133.001.001.11

  • African Gold Group Delivers on Multiple CSR Projects as Part of Its Ongoing Responsibility to Its Stakeholders
    GlobeNewswire

    African Gold Group Delivers on Multiple CSR Projects as Part of Its Ongoing Responsibility to Its Stakeholders

    Completed bridge after curing and laterite compaction either side of the bridge Figure 1 Kobada stream dammed up due to influx of fine silt blocking natural water course (before) Figure 2 Channel re-established, and small bridge installed to allow safe passage of people and equipment (after) Figure 3 Main road between Samaya and Kobada villages (before) Figure 4 Repaired road progress between Samaya and Kobada villages (after) Figure 5 Standing water for breeding mosquitoes (before) Figure 6 Temporary channels dug to allow flow of water eradicating breeding zones for mosquitoes (after) Figure 7TORONTO, Jan. 12, 2021 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to provide an update on its Corporate Social Responsibility (“CSR”) projects carried out in Q4-2020 as part of its overall Environmental and Social Management Plan (“ESMP”). As a mining company operating in Africa, AGG recognizes its responsibility to adhere to the highest responsible mining standards and is committed to creating sustainable long-term value for all of its stakeholders. Highlights: * Rehabilitation of a critical bridge between Samaya and Kobada village to ensure safe passage of personnel, medical supplies, and equipment to the region. * Rehabilitation of roads and a bridge in Kobada village to allow safe passage of people and vehicles across a previously hazardous route. * Construction of a four main water channels in the Kobada village area to prevent standing pools of water, a breeding ground for malaria and a high risk for an increase for malaria infection. * Start of repairs on the 8 km Samaya – Kobada road, a critical transport link connecting the local communities.Danny Callow, Chief Executive Officer of AGG commented:“We are very proud of the team at Kobada and the scores of volunteers that have assisted us in delivering a number of key projects in the Kobada region. Our alliance and ongoing positive enhancements in and around our mine site reinforce our commitment to the local communities and Mali as a whole. These projects have tackled critical infrastructure and health issues, and even though we are not in construction, have delivered projects costing more than US$50,000 to aid and assist the local communities. As we have published in Q4-2020, this forms a very small part of a much more focused, long term Environmental and Social Management Plan which we are in the process of developing.”Samaya – Kobada Bridge RehabilitationDue to the excessive rains last season, Lanseni Diawara, Chief of Samaya village requested the assistance of the Company with the rehabilitation of a bridge between Samaya and Kobada villages (see press release of the Company as of November 10, 2020).With no available alternatives in the region, the Samaya bridge is a critical transportation link that provides access for goods, services and medical facilities for a number of local communities in the region. Due to the excessive rains, the bridge was at risk of imminent collapse that could have caused severe damage to the local economy and completely isolate a number of local communities.With assistance from local villagers, Senet Ltd. and Etasi & Co Drilling, the Company is pleased to announce that it successfully completed the rehabilitation of the bridge on December 18th, 2020.“I am pleased and grateful for the work carried out by the AGG team. The new bridge is stronger than ever and would last for many years,” commented Chief Diawara at the opening ceremony.Road Repairs – Kobada VillageDue to the historical artisanal mining in the area, the natural drainage from streams criss-crossing the area resulted in large pools of water building up, which made it dangerous to traverse and a health hazard. Through discussions with the local Chief, the Kobada team along with several village volunteers moved more than 130 tonnes of rock and laterite to build and protect the stream crossing. Additional steelwork supplied by Kobada and welders, ensured that the bridge can handle heavy equipment crossing.The Chief of Kobada village took the opportunity to thank AGG for the work carried out in making the passage through the village far easier. He was very pleased with the work on the drainage of stagnant water and rainwater drainage. He also expressed his thanks for the planned road repairs between Kobada and Samaya and looked forward to the planned road repairs on the road to Niaouleni.Main Road Samaya to KobadaThe dirt road from Samaya to Kobada village is about 8 kilometres long. During the rainy season, many parts of the road were almost impassable due to severe erosion from the most resent and previous rainy seasons and a lack of maintenance over many years. The Company has undertaken the task of repairing and restoring the critical transport link connecting the local communities. Larger rocks and other binding material were transported to the areas requiring attention and then compacted with laterite. Further work from the village of Kobada to Niaouleni will continue in 2021.The Chief of Niaouleni village, who is also the Chef du Terre, Chief Namory Diawara said at the opening that the bridge was very strong, and that people must respect the rules regarding weight restrictions. He thanked AGG for all their hard work in assuring the road link between Kobada and Samaya was maintained. He expressed his gratitude that the next focus on road repairs would be between Kobada and Niaouleni.Channel Clearing for malaria eradicationDue to the historical artisanal workings around Kobada village, the natural watercourse has been blocked by fine silt from mining activities. This has resulted in standing pools of water which can become breeding grounds for mosquitos which carry and transmit malaria – causing health and wellbeing problems for local communities. After meeting with the village Chief, it was agreed that temporary channels would be constructed to bypass water away from the village as an interim preventative measure. Additionally, the Company encouraged the Chief to communicate the detrimental effects of standing water caused by silt run off from artisanal mining activities, and that the Chief try to discourage the processing of artisanal mined material in the village. Responding to this, the Chief announced over the radio that there will be no more pumping in the area as that is causing the biggest problem.Kobada Gold Project Corporate Social Responsibility StrategyThe Kobada Gold Project is an advanced stage gold development project located in Mali, Africa’s 4th largest gold producing nation. The property is located 126 km south-west of Bamako, the capital city of Mali, in the Birimian Greenstone Belt, with excellent transportation links to the capital and excellent logistics routes via other West African ports. The Company’s corporate social responsibility goals and objectives are built around three pillars – environment, social responsibility and health and safety. In October 2020, the Company announced its corporate social responsibility program (“CSR”) as it prepares for the start of construction of its flagship Kobada Mine. AGG and its CSR strategy is guided by the United Nations Sustainable Development Goals (“UN SDGs”) at all stages of its decision making and will work towards aligning our operations towards a number of the UN SDGs as Kobada moves towards production.About African Gold GroupAfrican Gold Group is a TSX Venture Exchange (TSX-V: AGG) listed exploration and development company with a focus on building Africa’s next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production. AGG’s principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed the 2020 definitive feasibility study for the Kobada Gold Project and is targeting gold production of 100,000 oz per annum by Q2 2022. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering potential for an increase in resource. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.For more information:Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@africangoldgroup.comScott Eldridge Non-Executive Chairman of the Board (604) 722-5381 Scott.Eldridge@africangoldgroup.comDaniyal Baizak VP Corporate Development (647) 835-9617 Daniyal.Baizak@africangoldgroup.comCamarco (Financial PR) Gordon Poole Nick Hennis Monique Perks +44 (0) 20 3757 4997 AfricanGoldGroup@camarco.co.ukCautionary statements This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding, the Company’s ESMP and CSR initiatives. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Photos accompanying this announcement are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/a38476cd-fe45-47a7-b710-8acd61c7dbd8https://www.globenewswire.com/NewsRoom/AttachmentNg/0f01c4d5-062a-45ed-bc6e-2fd3b571bd78https://www.globenewswire.com/NewsRoom/AttachmentNg/06413875-f65d-4ff9-92e0-f9c17bbe937ahttps://www.globenewswire.com/NewsRoom/AttachmentNg/6ccc03b5-d000-45cd-8d33-6bd6cf1714edhttps://www.globenewswire.com/NewsRoom/AttachmentNg/a99480e8-1c3b-40d9-b5b4-713edd7b0e2fhttps://www.globenewswire.com/NewsRoom/AttachmentNg/fc68a2e1-38ef-497a-bfdd-a3ad1fda7c1ehttps://www.globenewswire.com/NewsRoom/AttachmentNg/fd23c206-0000-4c91-b6f1-df115caec025

  • African Gold Group Announces Multiple Broad High-Grade Gold Intersects Near Surface at Kobada Gold Project, Including 38.20 g/t Au
    GlobeNewswire

    African Gold Group Announces Multiple Broad High-Grade Gold Intersects Near Surface at Kobada Gold Project, Including 38.20 g/t Au

    Figure 1 Plan view of drilling campaign at Kobada. Solid lines represent holes drilled to date.TORONTO, Jan. 06, 2021 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to provide an update on the ongoing Exploration Drilling Programme and the recent positive drill results at the Kobada Gold Project. Highlights: * Significant new drill intersects of the infill drilling at the main shear zone of the Kobada Gold Project. Drilling highlights include: * 3.5 g/t Au over 14.0 m from 113.0 to 127.0 m (Drill hole KB20_PH4A_20) * Including 38.20 g/t Au over 1.0 m and 3.09 g/t Au over 1.0 m * 1.24 g/t Au over 11.0 m from 104.0 to 131.0 m (Drill hole KB20_PH4A_4) * Including 8.92 g/t Au over 1.0 m * 5.14 g/t Au over 1.65 m from 146.5 to 148.15 m (Drill hole KB20_PH4A_23) * The drill program has extended the depth of the oxide-sulphide boundary from an anticipated 110 m to a more realistic 180 m at the northern extensions of the main shear zone, representing ~60% increase. * This has highlighted the continuity of the mineralization at depth beneath the current pit design and the presence of high grades to support potential future underground mining at Kobada. * High grade gold mineralisation, plus numerous recent strong intersections consistently reported from outside the mineral resource estimate in the NI 43-101 Technical Report on Kobada Gold Project dated June 17, 2020 (the “2020 DFS”) will be incorporated in the next mineral resource estimate update on track for early 2021. To date, the Company has drilled 6,258 metres of the combined Diamond Drilling (“DD”) and Reverse Circulation drilling (“RC”) with encouraging results continuing to show deeper than anticipated extensions of the orebody at depth as well as additional mineralized zones outside of the known ore zones.The Company`s key internal goal for Q1 2021 is to further demonstrate the considerable potential for increased resource base at the Kobada Gold Project. The Company expects to incorporate the results of the drilling programme in the next mineral resource estimate update on track for early 2021.Danny Callow, Chief Executive Officer of AGG commented:“We are very pleased with the continued positive results at our flagship Kobada Gold Project in Southern Mali. The drilling campaign to date has consistently intercepted deeper oxides and new mineralised oxide zones that were not anticipated in the original plan. Based on these results we believe that it is necessary to continue to extend the drilling in the Phase 4 infill drilling campaign, as well as look to start to drill the extension of the main shear zone as a Phase 5 programme. We have worked hard to design an extended drilling strategy which we believe will continue to show the true potential of the Kobada deposit”Overview of Drilling ProgrammeThe Company`s 2021 drilling programme is focused on the following targets: * Increase resource from newly identified shear zones at Kobada, Faraba and Kobada Est concessions (Phase 3) * Conversion of the inferred resources to measured and indicated category, with the goal of expanding the Reserve base to over 1 Moz (Phase 4) * Strike extension of the main shear zone at Kobada concession (Phase 5) The Company has completed its Phase 4A drilling aimed at upgrading the inferred resource in oxides at the northern extension of the current pit design at the Kobada Gold Project concessions. After evaluating the results, the Company intends to continue with Phase 4B and C, aiming at the complete conversion of most of the inferred oxide resources across the known ore bodies.The Company intends to continue drilling for the northern strike extension of the highly prolific Kobada Shear (Phase 5 ABC) and at its neighbour, the Gosso shear zone, where the initial drilling results has confirmed gold mineralisation not only at surface, but also along its dip at depth (Phase 3 ABC).Drill rigs have been operating since early September 2020, and despite heavy rains, the Company has made very good progress in its exploration drilling programme. To date, 6,258 m have been drilled, of which 4,035 m were RC and 2,223 m were DD. The assay results from the infill drilling campaign on the Kobada main shear zone have confirmed that to date, large portions of the geological model and the anticipated grade of the inferred oxide mineral resource correlate positively with the 1.34 g/t mean grade currently used in the existing inferred resource estimate. In addition, the boundary between the oxidised lithologies and the unaltered (sulphide) lithologies has been repeatedly intersected at deeper levels than anticipated. These results are conducive to adding more volume at depth to the inferred mineral resource in the oxides and a positive future target for further infill drilling, which was not initially anticipated at the start of the campaign.The drilling campaign to upgrade a portion of the inferred oxide mineral resources is part of a three-phase drilling campaign. The objective of the current drilling campaign is to upgrade the inferred oxide resource to a higher confidence category, test the northern extension of the Kobada shear beyond the last known occurrence in the northern parts of the Kobada concession and the initial drill-testing of the neighbouring Gosso shear zone (see press release dated October 20, 2020).Figure 1: Plan view of drilling campaign at Kobada. Solid lines represent holes drilled to date: https://www.globenewswire.com/NewsRoom/AttachmentNg/2e358102-d58c-46f1-8364-7857ad372d80Kobada Gold Project The Kobada Gold Project is an advanced stage gold development project located in Mali, one of Africa`s largest gold producing nations. The property is located 126 km south-west of Bamako, the capital city of Mali, in the Birimian Greenstone Belt, with excellent transportation links to the capital and excellent logistics routes via other West African ports.In July 2020, the Company released the 2020 DFS that showed Kobada`s potential as a highly profitable standalone mine, delivering IRR of 45.5% and NPV of US$284 m, with an AISC of US$788/oz Au.The Company continues to advance the Kobada Gold Project through an exploration drilling programme in parallel to negotiations on securing the financing for the construction of the project. Advanced discussions with a number of institutional investors are underway.About African Gold GroupAfrican Gold Group is a TSX Venture Exchange (TSX-V: AGG) listed exploration and development company with a focus on building Africa’s next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production. AGG’s principal asset is the Kobada Gold Project in southern Mali, which is in an advanced stage of development having completed the 2020 DFS and is targeting gold production of 100,000 oz per annum by Q2 2022. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering potential for an increase in resource. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.Qualified PersonThe scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.For more information:Danny Callow President and Chief Executive Officer +(27) 76 411 3803 Danny.Callow@africangoldgroup.comScott Eldridge Non-Executive Chairman of the Board (604) 722-5381 Scott.Eldridge@africangoldgroup.comDaniyal Baizak VP Corporate Development (647) 835-9617 Daniyal.Baizak@africangoldgroup.comCamarco (Financial PR) Gordon Poole Nick Hennis +44 (0) 20 3757 4997 AfricanGoldGroup@camarco.co.ukCautionary statements This press release contains “forwardlooking information” within the meaning of applicable Canadian securities legislation. Forwardlooking information includes, but is not limited to, statements regarding, the Company’s drilling and exploration programmes, expectations of increase in or conversion of resources and/or reserves at the Kobada Gold Project, timeline for delivery of future mineral resource estimates and extensions of orebody depth and length, anticipated construction timeline at the Kobada Gold Project and financing thereof. Generally, forwardlooking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forwardlooking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forwardlooking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwardlooking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Table 1: Assay results from the mineralized zone Mineralized ZoneIncludes BHIDFromToComposite Length (m)Composite Grade (g/t)FromToIncludes (m)Includes (g/t) KB20_PH4A_427.0038.0011.001.2428.0029.001.002.00 KB20_PH4A_4    29.0030.001.001.49 KB20_PH4A_4    36.0037.001.008.92 KB20_PH4A_1584.0087.003.000.8285.0086.001.001.46 KB20_PH4A_15100.00101.001.002.00100.00101.001.002.00 KB20_PH4A_15124.00140.0016.000.82124.00125.001.007.57 KB20_PH4A_15    130.00131.001.003.23 KB20_PH4A_15151.00154.003.001.73151.00152.001.004.83 KB20_PH4A_1759.0060.001.001.5359.0060.001.001.53 KB20_PH4A_1821.0023.002.000.29     KB20_PH4A_1867.0068.001.000.30     KB20_PH4A_1886.00135.0049.000.6087.0088.001.0013.60 KB20_PH4A_18    114.00115.001.001.18 KB20_PH4A_18    123.00124.001.005.26 KB20_PH4A_1924.0028.004.001.0325.0026.001.002.87 KB20_PH4A_1967.0070.003.001.2268.0069.001.001.67 KB20_PH4A_19    69.0070.001.001.44 KB20_PH4A_19101.00102.001.001.30101.00102.001.001.30 KB20_PH4A_2057.0065.008.000.6457.0058.001.002.95 KB20_PH4A_20113.00127.0014.003.50113.00114.001.003.09 KB20_PH4A_20    114.00115.001.0038.20 KB20_PH4A_20    117.00118.001.001.28 KB20_PH4A_20    118.00119.001.001.56 KB20_PH4A_20    122.00123.001.001.31 KB20_PH4A_20146.00161.0015.000.49151.00152.001.001.20 KB20_PH4A_20    154.00155.001.001.21 KB20_PH4A_20    156.00157.001.001.02 KB20_PH4A_2218.0019.001.000.41     KB20_PH4A_2265.0074.009.000.3165.0066.001.001.36 KB20_PH4A_2287.0088.001.000.65     KB20_PH4A_22117.00129.0012.000.58123.00124.001.003.62 KB20_PH4A_22    124.00125.001.001.10 KB20_PH4A_22137.90163.0025.100.67137.90139.341.441.28 KB20_PH4A_22    139.34142.002.661.26 KB20_PH4A_22    150.70152.702.002.17 KB20_PH4A_22    156.00157.001.005.19 KB20_PH4A_232.503.501.008.152.503.501.008.15 KB20_PH4A_2354.8055.901.106.5654.8055.901.106.56 KB20_PH4A_2360.9086.0025.100.3767.8069.001.201.49 KB20_PH4A_23    84.8586.001.152.51 KB20_PH4A_23146.50148.151.655.14146.50148.151.655.14 Cumulative Mineralization WidthsBHIDCumulative Mineralization Width (m)Mean Grade (g/t) KB20_PH4A_411.001.24 KB20_PH4A_1523.000.99 KB20_PH4A_171.001.53 KB20_PH4A_1852.000.58 KB20_PH4A_198.001.13 KB20_PH4A_2037.001.66 KB20_PH4A_2248.100.58 KB20_PH4A_2328.851.15 Significant Intersections (above 1 g/t Au) BHIDFromToIntersection Length (m)Au_Final (g/t) KB20_PH4A_428.0029.001.002.00 KB20_PH4A_429.0030.001.001.49 KB20_PH4A_436.0037.001.008.92 KB20_PH4A_1585.0086.001.001.46 KB20_PH4A_15100.00101.001.002.00 KB20_PH4A_15124.00125.001.007.57 KB20_PH4A_15130.00131.001.003.23 KB20_PH4A_15151.00152.001.004.83 KB20_PH4A_1759.0060.001.001.53 KB20_PH4A_1887.0088.001.0013.60 KB20_PH4A_18114.00115.001.001.18 KB20_PH4A_18123.00124.001.005.26 KB20_PH4A_1925.0026.001.002.87 KB20_PH4A_1968.0069.001.001.67 KB20_PH4A_1969.0070.001.001.44 KB20_PH4A_19101.00102.001.001.30 KB20_PH4A_2057.0058.001.002.95 KB20_PH4A_20113.00114.001.003.09 KB20_PH4A_20114.00115.001.0038.20 KB20_PH4A_20117.00118.001.001.28 KB20_PH4A_20118.00119.001.001.56 KB20_PH4A_20122.00123.001.001.31 KB20_PH4A_20151.00152.001.001.20 KB20_PH4A_20154.00155.001.001.21 KB20_PH4A_20156.00157.001.001.02 KB20_PH4A_2265.0066.001.001.36 KB20_PH4A_22123.00124.001.003.62 KB20_PH4A_22124.00125.001.001.10 KB20_PH4A_22137.90139.341.441.28 KB20_PH4A_22139.34142.002.661.26 KB20_PH4A_22150.70152.702.002.17 KB20_PH4A_22156.00157.001.005.19 KB20_PH4A_232.503.501.008.15 KB20_PH4A_2354.8055.901.106.56 KB20_PH4A_2367.8069.001.201.49 KB20_PH4A_2384.8586.001.152.51 KB20_PH4A_23146.50148.151.655.14