TORONTO, CANADA--(Marketwired - Jul 9, 2014) - African Gold Group, Inc. ("AGG" or the "Company") (TSX VENTURE:AGG) is pleased to report on the progress of its Kobada feasibility study, as well as a recent initiative by the Malian Government to curtail illegal mining activities during the rainy season.
The Malian Government has confirmed its support to the Company and immediate action is being taken to allow for the continuation of the feasibility work in a safe environment.
Officials representing the Canadian Embassy in Mali have been most helpful in providing the Company with advice and support and have intervened at the highest levels of Government on the Company's behalf, for which we are most appreciative and thankful.
IMPACT ON THE KOBADA FEASIBILITY STUDY
The current work at Kobada was primarily focused on the collection of a bulk sample for further metallurgical test work. Fortunately, most of this work had been completed and the Company anticipates that samples of Lateritic and Saprolitic ore will be air freighted to Australia next week. Material damages will be evaluated but at this time, are not expected to seriously impact the ongoing work.
The Company remains confident that the results of the Kobada Feasibility Study will be delivered prior to the end of 2014.
The Company advises that the Malian Gendarmerie continues with their investigation at Kobada, as well as arresting the instigators of the violence.
About African Gold Group
African Gold Group is a Canadian exploration and development company with a strong focus on West Africa. African Gold Group 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 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.
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.