African Gold Group, Inc., wishes to advise shareholders that its on site project manager reports a bridge, critical for crossing the Fie River, en route to its Kobada concession in Mali, West Africa, has become submerged under water due to very recent heavy rains.
AGG’s anticipated Phase I diamond drill program will commence as soon as possible following the receding of the flood waters. All equipment and personnel are in place in Mali and ready to proceed to the Kobada concession as soon as logistically feasible.
As stated in the Company’s press release of August 2, 2005, “Previous work, totaling approximately €5,000,000, of which a considerable percentage was directed to the exploration of the Kobada concession, has indicated some very encouraging results in both diamond and RC drill programs. In order to properly and fully report on those results, to an acceptable standard, AGG will be undertaking a confirmation of the historical database by way of diamond drilling some twinned holes, as well as, some deeper holes to gain a better understanding of the, as yet unexplored, bedrock geology of the Kobada trend. Drilling to date has reached depths of 125 vertical meters without completely penetrating the saprolite horizon or intersecting bedrock. This is an unusual situation but one that bodes well for demonstrating a low cost surface deposit, that will hopefully complement the deeper resource potential,” states Director, Greg Hawkins, P. Geo.
All historical drill holes that are to be “twinned,” in order to confirm the historical data base, have already been GPS located in the field with location identification markers in place to assist the drill crew with rig placement.
Mr. T. Greg Hawkins has relinquished the title of interim CEO, effective August 31, 2005, following 6 months service in that capacity, in order to return to his primary focus on the geo-technical aspects of the Company’s exploration and development programs in Ghana and Mali, West Africa.
Mr. Ben Adoo, Managing Director, AGG (Ghana) Ltd. and Chairman, African Gold Group, Inc., along with Michael A. Nikiforuk, President, African Gold Group, Inc., will jointly oversee all of the administrative and managerial functions of the Company going forward.
African Gold Group, Inc., based in Toronto, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa. The Company’s immediate focus is to systematically explore both surface, and in particular, subsurface targets that have been identified within the Company’s current portfolio of gold mineralized concessions.
Additional Information is available on www.sedar.com or at
AFRICAN GOLD GROUP INC.
151 Yonge St.
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