African Gold Group Inc.

Published : July 29th, 2014

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African Gold Group Updates on Kobada Feasibility Study

TORONTO, ONTARIO--(Marketwired - Jul 29, 2014) - African Gold Group, Inc. (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to report on the progress of its feasibility study for its Kobada Gold Project, located in southern Mali, which is on schedule and anticipated to be delivered prior to the end of 2014.

Appointment of Kobada Project Infrastructure & Logistics Manager

The Company has further strengthened its feasibility study and mine development team with the appointment of Mr. Torben Michalsen as "Project Infrastructure & Logistics Manager", effective July 11, 2014. Mr. Michalsen will be responsible for infrastructure and logistics activities relating to the construction, commissioning and project operation at the Kobada gold project.

Mr. Michalsen, is an accomplished project management professional with over 15 years experience managing logistics, resource management and construction in a variety of resource industries spanning three continents. Most recently, Mr. Michalsen was Project Manager at Guyana Goldfields where he was responsible for project implementation, management and development of infrastructure for the Aurora gold mine in Guyana South America. Prior to that, Torben was Forest Operations Supervisor and Manager for several forest management and wood industries companies. Mr. Michalsen has a BSc in Geoscience and Resource Management from the University of Copenhagen.

Gekko Systems Retained - Metallurgical Testwork Underway

The Company has retained Gekko Systems Pty Ltd. ("Gekko"), a market leader in gold processing and low-energy mining solutions utilizing innovative modular plant designs, to partner with Montreal based Bumigene Engineering to complete the feasibility study for the Kobada bulk mining gold operation. For additional information on Gekko Systems please visit http://gekkos.com/.

On July 15, 2014, AGG shipped a 2 tonne bulk sample, via air freight, to Gekko in Ballarat, Australia for metallurgical testwork. The 2 tonne bulk sample is a composite of core samples of saprolite ore and auger samples of laterite ore collected over a wide area of the known gold resource.

The purpose of this testwork is to determine the optimum process flowsheet for the project and to provide a more accurate estimate of key operating parameters, including process recovery and capital and operating costs. This work will ultimately form the foundation of the feasibility study that is to demonstrate the economic viability of the Kobada Gold Project. The results of the metallurgical testwork are expected to be available in the third quarter of this year.

Director, President and CEO of AGG, Mr. Declan Franzmann, FAusIMM, comments, "I am very pleased to have Gekko as a member of our feasibility study team. I believe that Gekko's extensive gravity knowledge, innovative flowsheet design and its reputation of delivering highly efficient low-cost processing solutions will enhance the economics of the Kobada project compared to traditional processing routes.

"In addition, we welcome Torben to AGG and look forward to his contribution with both the completion of the feasibility study and the development of the Kobada deposit. Torben's hands on experience in construction and resources industries will significantly strengthen and complement AGG's existing team. At this time, AGG is on track to announce the results of the feasibility study by the end of 2014 and I look forward to updating our shareholders on our progress throughout the remainder of this year."

Mr Nigel Grigg, Business Development Manager at Gekko Systems, comments, "We are pleased to have the opportunity to work with AGG on the Kobada gold project. We see this as an attractive opportunity to showcase Gekko Systems innovative flowsheets and technology in delivering a gold production plant with low capital costs, optimal throughput rates and low operating costs. The Kobada deposit is particularly well suited to Gekko's pre-concentration philosophy, with previous testwork conducted by SGS Canada Inc., indicating that 57% of the saprolitic feed material can be rejected as fines, containing only 4% of the total gold. This characteristic is likely to provide excellent potential for upgrading of feed grades and significantly increases the processing capacity of the concentration equipment, thus potentially making it a very low cost operation."

About African Gold Group

African Gold Group, Inc., is a Canadian exploration and development company with a strong focus on West Africa. AGG is positioned to grow in value as it progresses its Kobada Gold Project through a feasibility study, development and into production. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.

On Behalf of the Board:

Declan Franzmann

President and CEO

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.

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of African Gold Group; and statements regarding the ability to develop and achieve production at Kobada are forward-looking statements that involve various risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from African Gold Group's expectations have been disclosed under the heading "Risk Factors" and elsewhere in African Gold Group's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. African Gold Group disclaims any intention or obligation to update or revise any forward looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Australia | Canada | Mali | All
Gold and Silver Prices for these countries : Australia | Canada | Mali | All

African Gold Group Inc.

EXPLORATION STAGE
CODE : AGG.V
ISIN : CA00829A1066
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African Gold Group is a gold exploration company based in Canada.

African Gold Group holds various exploration projects in Ghana.

Its main exploration properties are BAGOE - EAST, BAGOE - WEST and KOBADA in Mali and NYANKUMASI, MANKRANHO and ASANKRANGWA in Ghana.

African Gold Group is listed in Canada and in United States of America. Its market capitalisation is CA$ 48.9 millions as of today (US$ 39.1 millions, € 34.3 millions).

Its stock quote reached its highest recent level on April 02, 2004 at CA$ 3.40, and its lowest recent point on April 12, 2019 at CA$ 0.01.

African Gold Group has 326 100 000 shares outstanding.

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Financings of African Gold Group Inc.
3/18/2015Announces Closing of Private Placement
3/11/2015Announces Private Placement
9/5/2013Announces the Closing of $1,500,000 Private Placement Offeri...
3/20/2006private placement of up to 4 million shares
Option Grants of African Gold Group Inc.
4/5/2011, Engages Torrey Hills Capital for Investor Relations
Project news of African Gold Group Inc.
8/23/2013(Kobada)Clarifies Disclosure on Kobada, Mali Gold Project Press Rele...
5/3/2010(Asankrangwa)Airborne Survey Of Asankrangwa Holdings -- Contiguous And O...
4/8/2010(Asankrangwa)To Commence Airborne Survey Of Asankrangwa Holdings -- Conti...
2/18/2010(Kobada)Drilling At Kobada, Mali Focused On Surpassing 1,000,000 Oz ...
1/20/2010(Kobada)Multi-Phase Work Program Focused on Surpassing 1,000,000 oz ...
3/24/2010(Kobada)Intersects 18 Meters of 7.04 G/T Au In Zone 1 and 21 Meters ...
10/28/2009(Mankranho)Newmont Confirms Structures That Host Yamfo North-East & Sub...
9/23/2009(Kobada)Kobada "Zone 1" Resources Estimate Will Increase
5/21/2008(Kobada)Files Initial 43-101 Mineral Resources Estimate For "Zone 1"...
4/9/2008(Kobada)Intercepts 9 Meters Of 25.8 G Au/T
Mineralization Identi...
4/2/2008Releases Initial 43-101 Mineral Resources Estimate for "Zone...
3/18/2008(Kobada)Diamond Drilling Set To Test Multiple Structures Parallel To...
3/6/2008(Bagoe - East)Randgold Resources Reports Rab Drilling Is Underway At Bagoe...
Corporate news of African Gold Group Inc.
1/6/2016African Gold Group, Inc. Announces Sale of Ghanian Assets fo...
10/28/2015African Gold Group, Inc. Announces Metalurgical Test Work Co...
9/3/2015African Gold Group Announces Closing of Private Placement
8/5/2015African Gold Group, Inc. Announces Grant of Kobada Mining Li...
7/8/2015African Gold Group, Inc. Announces Election of Mr. Georges C...
2/6/2015African Gold Group to Participate in "Doing Business in Mali...
1/22/2015African Gold Group Closes Second Non-Brokered Private Placem...
1/14/2015African Gold Group Closes Non-Brokered Private Placement for...
12/23/2014African Gold Group, Inc. Announces Filing of Preliminary Eco...
11/25/2014African Gold Group, Inc.: Updated Preliminary Economic Asses...
10/29/2014Kobada Metallurgy Test Work Confirms 85.2% Gold Recovery for...
10/28/2014African Gold Group Unaware of Any Material Change
9/4/2014AGG Appoints David Brown as Company Chairman
7/29/2014African Gold Group Updates on Kobada Feasibility Study
7/23/2014African Gold Group Inc. Completes 2014 Kobada Field Season-B...
7/17/2014African Gold Group, Inc., Appoints Misha Collins Feasibility...
7/9/2014African Gold Group, Inc., Kobada Feasibility Study Work to M...
6/19/2014African Gold Group, Inc.: Bulk Sampling Results Identifies S...
5/22/2014African Gold Group Closes Over-Subscribed Non-Brokered Priva...
4/29/2014African Gold Group Strengthens Mine Development Team With th...
3/25/2014African Gold Group, Inc. Announces Early Warrant Exercise In...
10/22/2013(Kobada), Engineering Team Mobilizes to Commence Metallurgical Test ...
7/8/2013Annual and Special Shareholder Meeting
6/20/2013letter Press Release June 18 2013
6/18/2013(Kobada)Updated Resources Estimate for Kobada Gold Project Surges to...
5/29/2013KBRC12-160 Intercepts 75 Meters of 3.06 g/t Au; KBRC12-201 I...
5/29/2013KBRC12-160 Intercepts 75 Meters of 3.06 g/t Au; KBRC12-201 I...
5/15/2013KBRC12-084 Intercepts 69 Meters of 2.37 g/t Au; KBRC12-066 I...
5/8/2013Feasibility Study Drilling on 25 Meter Centers Pushes Au Min...
3/25/2013IGE Resources calls for Extra General Meeting, related to th...
2/5/2013(Mankranho)Completes Sale of Mankranho, Ghana Concession for US$4,000,0...
11/5/2012Pope & Company Initiates Equity Research Coverage on African...
10/10/2012(Mankranho)Announces Sale of Mankranho, Ghana Concession for US$4,000,0...
5/1/2012May 01/2012
3/29/2012March 29/2012
3/20/2012March 20/2012
11/29/2011Nov 30/11
10/26/2011Featured In The Financial Post,
10/25/2011Oct 25/11
9/14/2011Sept 14/11
8/25/2011Featured In The Financial Post, Mining News
7/13/2011July 13/11
7/13/2011Positive Preliminary Economic Assessment Generates $216.9 Mi...
6/1/2011June 01/11
6/1/2011Southern Step Out Hole Intercepts 96 Meters of 1.35 g/t Au f...
4/5/2011April 05/11
3/29/2011March 29/11
3/22/2011March 22/ 11
3/22/201167 RC Drill Holes Shipped to Lab; 3,980 m of Trench Results ...
3/16/2011Re-Adopts Shareholder Rights Plan
4/29/2008 included in The Gold Newsletter, April 2008 Edition
4/16/2008Trenching Returns 84 Meters Of 3.0 G Au/T, Including 36 Mete...
2/25/2008 Retains AGORACOM To Provide Google Search Engine IR Program...
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