African Gold Group, Inc. Updated Resources Estimate for Kobada Gold Project Surges to 2.3 Million Oz Au "Measured & Indicated" &

African Gold Group, Inc. Updated Resources Estimate for Kobada Gold Project 
Surges to 2.3 Million Oz Au "Measured & Indicated" & 540,000
Oz Au "Inferred" Gold Grade Increases 10% to 0.87 g/t Au 
TORONTO, ONTARIO -- (Marketwired) -- 06/18/13 -- African Gold Group,
Inc., (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to
announce the results of a NI 43-101 compliant updated resources
estimate for AGG's Kobada gold project. The resources estimate is
based on the analytical results of 108,074 samples derived from a
total of 1,035 drill holes consisting of both reverse circulation
("RC") and diamond drill holes ("DD"), at Kobada, Mali. 
Highlights 


 
--  2,306,000 Oz Au Measured and Indicated resources (contained within 80.61
    million tonnes at 0.87 g/t Au using a 0.3 g/t Au cutoff) derived from
    drilling on 25m x 25m centers over a total of 3,200 meters of strike
    length between sections 600S and 3,800S, representing an 88% increase in
    infill drilled strike length relative to the 1,700 meters of strike
    length reported in the 2011 Inferred resource estimate. 
 
--  542,000 Oz Au Inferred Resource (contained within 17.88 million tonnes
    at 0.94 g/t Au, using a 0.3 g/t Au cutoff), predominantly contained from
    within the Sulphide portion of Zone 1. Included, 186,000 Inferred ounces
    reported for the Foroko North Deposit (5.16 million tonnes at 1.13 g/t
    Au at a 0.3 g/t Au cutoff). Foroko North is a satellite deposit situated
    on a separate and distinct structure from Zone 1. It represents one of
    seven airborne geophysical targets generated by the 2010 airborne
    survey. 
 
--  Average grade of 0.87 g/t Au reported in the updated resources estimate
    represents a 10% increase in grade as compared to the average grade of
    0.79 g/t Au reported in the 2011 resource estimate that formed part of
    AGG's PEA.  
 
--  Further potential remains to significantly increase both the oxide and
    sulphide resources along strike and at depth for both Kobada, Zone 1 and
    Foroko North deposits and elsewhere on the 215 sq km concession where
    airborne geophysical and geochemical anomalies coincide with extensive
    areas of gold diggings. 

 
AGG Director, Pierre Lalande states, "I have several reasons to be
extremely pleased with the results of this updated resources
estimate. For one, we have successfully migrated 100% of our 2011
Inferred resource into the Measured and Indicated category. In
addition, infill drilling strike extensions to both the north and
south of our 2011 resource has more than doubled the ounces we
reported in 2011, all of which is contained within the Measured and
Indicated category. Furthermore, we are reporting a 10% increase in
our average grade, relative to our 2011 resource estimate." 
"I am confident that our significant growth trajectory at Kobada
remains intact and will continue as we move forward. I note the
Kobada and Foroko North deposits remain open along strike and at
depth. More specifically, approximately 55% or seven kilometers of
the Kobada structural shear, containing coincident geophysical and
geochemical anomalies, has yet to be drill tested. In addition, both
geophysics and geochemistry indicate the potential for mineralized
shears that lie parallel to the Zone 1 deposit and this distinct
potential has yet to be drill tested. It is my professional opinion
that further exploration initiatives hold the potential to at least
double the size of the resources being reported at Kobada today,"
states Lalande.  
"On a technical note, a characteristic of the Kobada deposit is the
significant amount of coarse gold that is contained within the
deposit and surrounding environment. The extent of artisanal gold
diggings, our preliminary metallurgical studies and the comparative
results derived from our QA/QC programs that form part of our drill
campaigns, dating back to 2005, all highlight the large statistical
"nugget effect." Lalande explains, "It is important to increase both
the "sample support" (volume of material) and "aliquot" (amount of
material actually analyzed) to counteract the "nugget effect" at
Kobada. Since 2009, AGG commenced both a higher grid density of
drilling with larger diameter holes and employed analytical
procedures using larger amounts of material subjected to analysis
(Leachwell on 2,000 g versus Fire Assay on 50 g). Our 2012
Feasibility Study drill program increased drill density to 25 meter
centers from the 50 meter centers (reported in 2011). All drill
analysis was based on 2,000 g Leachwell and it is this protocol
combination that has resulted in AGG reporting a 10% increase in gold
grade, relative to our 2011 resource estimate" continues Lalande. 
In conclusion, "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,
including Sadiola and Yatela, during my tenure as Chief Geologist for
IAMGOLD Corporation. My experience has taught me that each of these
seven deposits have demonstrated a range of small to significant
"nugget effect". I can state with confidence that Kobada has a
significant "nugget effect" and this is supported by all of the bulk
metallurgical tests we have conducted to date. It remains my strong
conviction that Kobada is destined to become a producing mine and I
predict it will be a highly profitable, low cost, gravimetric
operation," states AGG Director, Pierre Lalande, P.Geo. 


 
June, 2013 Revised Resource Estimate For The Kobada Deposit, Mali, West     
Africa, Prepared By Bumigeme Inc.                                           
Table 1                                                                     
Zone 1, Oxide                                                               
                                                                            
Measured                                                                    
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                      66.91           0.73      1,569,956
0.3                                      49.89           0.90      1,436,074
0.5                                      30.85           1.21      1,198,853
----------------------------------------------------------------------------
                                                                            
Indicated                                                                   
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                      13.13           0.59        247,799
0.3                                       9.18           0.73        216,370
0.5                                       4.46           1.11        158,570
----------------------------------------------------------------------------
                                                                            
Measured + Indicated                                                        
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                      80.04           0.71      1,817,755
0.3                                      59.07           0.87      1,652,444
0.5                                      35.31           1.20      1,357,423
----------------------------------------------------------------------------
                                                                            
Inferred                                                                    
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                       4.57           0.45         66,280
0.3                                       2.86           0.57         52,419
0.5                                       0.97           0.93         29,096
----------------------------------------------------------------------------
                                                                            
Table 2                                                                     
Zone 1, Sulphide                                                            
                                                                            
Measured                                                                    
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                      12.51           0.74        299 100
0.3                                       9.28           0.92        273 600
0.5                                       5,58           1.27        228 100
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
                                                                            
Indicated                                                                   
----------------------------------------------------------------------------
Cut g/t                             Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                      16.29           0.79        412 500
0.3                                      12.26           0.97        380 600
0.5                                       7.24           1.37        318 900
----------------------------------------------------------------------------
                                                                            
Measured + Indicated                                                        
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                       28.8           0.77        711 600
0.3                                      21.54           0.94        654 200
0.5                                      12.82           1,33        547 000
----------------------------------------------------------------------------
                                                                            
Inferred                                                                    
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                      13,49           0.77        332 100
0.3                                       9.86           0.96        303 300
0.5                                       5.26           1.46        246 700
----------------------------------------------------------------------------
                                                                            
Table 3                                                                     
Foroko North                                                                
                                                                            
Inferred                                                                    
----------------------------------------------------------------------------
Cutoff g/t                          Tonnage Mt      Grade g/t       Au Ounce
----------------------------------------------------------------------------
0.2                                       7.09           0.89        202,160
0.3                                       5.16           1.13        186,585
0.5                                       2.90           1.69        157,681
----------------------------------------------------------------------------
Notes:                                                                      
 
1.  CIM definitions were followed for Mineral Resources. 
2.  The numbers may not add up due to rounding. 
3.  There are no known risks that could materially affect potential
    development. 

 
Mineral Resource Estimate Parameters And Methodology 
A unitary block model type of evaluation is used for the evaluation. 
The software used is Encom Discover 2011. 
Parameter 


 
--  Block: 10x10x10m 
--  Interpolation method: IDW (Inverse distance weighting) 
--  Search ellipse parameter: 80x80x20m (axes; Y. Z. X) 
--  Ellipse orientation: 
    --  Azimuth: 20 degrees 
    --  Inclination (plunge): 0 degrees 
    --  Tilt (dip): 90 degrees 
--  Sample influence (power parameter): Gaussian over 20m. 
--  Minimal block estimate assay sample: 1 
--  Maximal block estimate assay samples: 16 
--  Inferred sample spatial density 50 to 99 ppm (1 assay for 10 to 20
    blocks) 
--  Indicated sample spatial density 100 to 199 ppm (1 assay for 5 to 10
    blocks) 
--  Measured sample spatial density greater than 200 ppm (1 assay for 1 to 5
    blocks) 
--  Density: 1.9 t/m3 for the oxide level and 2.2 t/m3 for the
    transition/sulphide level. 

 
The Kobada gold project database used for this mineral resources
estimate contains drill holes up to July 15, 2012. 
The updated resources estimate was prepared by Mr. Jacques Marchand,
P. Eng., under contract to Bumigeme Inc. Mr. Marchand is a "Qualified
Person" ("QP") under the standards set forth in National Instrument
43-101.  
Mr. Pierre Lalande, P. Geo, an AGG Director, is the Company's
designated QP for the purposes of reviewing the content of this
release. All parties have reviewed and approved their respective
content of this press release. 
African Gold Group, Inc., based in Toronto, Canada, is fully focused
on transitioning from an exploration / development company into a
gold producer. In conjunction with this objective, a full Feasibility
Study is currently underway for AGG's Kobada, Mali gold project. The
Company is projecting the Feasibility Study will be completed in
Q3/2014, at which time, the Company will submit an application to
obtain an Exploitation License to the appropriate Malian authorities. 
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
President, Director
(647) 288-0453
majn@africangoldgroup.com
www.africangoldgroup.com
 
 
Press spacebar to pause and continue. Press esc to stop.