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Grant of Stock Options

24 August 2004

African Gold Group, Inc. (“AGG”) announces that it has entered into an agreement to grant an employee of AGG 12,000 incentive stock options at the exercise price of $2.00 per share for a five (5) year term.

AGG, based in Toronto, is engaged in the identification, acquisition and exploration of prospective gold projects situated along significant gold trends in Ghana, West Africa. The Company’s immediate focus is to systematically explore both surface, and in particular, subsurface targets along two major gold trends: the Sefwi and Asankrangwa Gold Belts.

Additional Information is available on www.sedar.com or at

AFRICAN GOLD GROUP INC.

151 Yonge St.
11th Floor
Toronto, Ontario
M5C 2W7

Phone: 647-775-8538
Fax: 647-775-8301

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.