African Gold Group, Inc. Completes Sale of Mankranho, Ghana Concession for US$4,000,000

African Gold Group, Inc. Completes Sale of Mankranho, Ghana Concession for 
US$4,000,000 
TORONTO, ONTARIO -- (Marketwire) -- 02/05/13 -- African Gold Group,
Inc., ("AGG" or the "Company") (TSX VENTURE:AGG) is pleased to
announce that the Company has completed the closing of the sale of
its Mankranho, Ghana concession to Newmont Ghana Gold Limited
("NGGL"). 
Under the terms of the sale, NGGL has purchased 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 completion of the sale of Mankranho to NGGL represents a
significant milestone for AGG. As stated in the Company's press
release of October 10, 2012: the culmination of the monetization of
this asset represents the first step in unlocking the intrinsic value
of AGG's Ghanaian assets. Furthermore, the sale of the Mankranho
asset facilitates a non-dilutive solution to funding the completion
of AGG's ongoing Feasibility Study for its 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. 
Corporate Update 
The Company also announces that it has granted an aggregate of
3,580,000 incentive stock options to certain directors, officers and
employees of AGG to purchase common shares of the Company. The
incentive stock options are exercisable at $0.20 per common share for
a period of five (5) years from the date of issuance, being February
5, 2018. 
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. 
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 
Neither the 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. 
Contacts:
African Gold Group, Inc.
Michael A. J. Nikiforuk
(647) 288-0453
majn@africangoldgroup.com
www.africangoldgroup.com
 
 
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