Gullf ist unterbewertet und sieht goldenen Zeiten entgegen. - 500 Beiträge pro Seite

[Blacksidi]

Die Aktie ist krass unterbewertet und Beteiligungen an aussichtsreichen Goldvorkommen.

Meinungen?

[Blacksidi]

Antwort auf Beitrag Nr.: 52.917.484 von Blacksidi am 26.07.16 13:38:31

Ich kenne die Aktie noch aus den Zeiten als sie nach Öl gebohrt haben, leider haben sie bei zwei Projekten pech gehabt, die erfolgreichen Anteile verkauft und die dry holes behalten. Gulf hat aber noch ein paar kleine Öl-Quellen die weiter produzieren und dabei eine Marktkap. von ca. 300.000 C$

[Blacksidi]

Gulf Shores Resources Announces Ghana Gold Project Earn-in Agreement
V.GUL | 12 days ago

Vancouver, British Columbia--(Newsfile Corp. - July 13, 2016) - Gulf Shores Resources Ltd. (TSXV: GUL) ("GSR" or the "Company") is pleased to announce that it has signed a Letter of Intent (LOI) with Goldplat PLC ("Goldplat"), an AIM-listed public company, to earn an interest in the Anumso Gold Project (the "Project") in Ghana (Figure 1).

The LOI provides GSR with the right to earn 75% of Goldplat's interest in the Project by expending US$3.0M on exploration over 2.5 years. An initial 51% interest will be earned through expenditure of US$1.5M in the first 18 months, and the remaining 24% interest can be earned through expenditure of an additional US$1.5M in the following 12 months. The government of Ghana has a carried 10% interest in all minerals and mining concessions in Ghana, thus the 75% interest in Goldplat's 90% interest will reflect a 67.5% net interest for GSR.

GRS will enter into a formal option agreement with Goldplat within 30 days following a normal due diligence period, and will be subject to approval by the Boards of Directors of both companies and the TSX Venture Exchange. GSR will be the operator of the exploration and development program during the option period. Upon completion of its earn in rights, GSR and Goldplat will form a joint venture whereby each party will contribute proportionally to the Project's development, or have its interest diluted. If either party's interest is reduced to 10%, that interest is then converted into a 1.5% net smelter return royalty which the other party has the right for one year to purchase by paying US$100,000 for each 0.1% of the NSR.

The Anumso Gold Project is a 29.63 km2 Mining Lease within two blocks that cover ≥ 5 km of strike length of the well-known Birimian series auriferous Tarkwaian Banket strata within the highly productive Ashanti Belt of Ghana. This portion of laterally continuous Tarkwaian conglomerate strata has produced gold for over 100 years from the colonial Ntronang Mine 7 km to the east and from artisanal miners in more recent years. These same beds are famous in the southern Ashanti Belt for gold produced from the Iduapriem and Teberebie mines of AngloGold Ashanti and the Tarkwa and Demang mines currently in production by Goldfields. The Anumso - Ntronang area is the only location outside of the Tarkwa vicinity where gold has been mined from Banket conglomerate. Gold in these rocks is considered similar to that in the conglomerate-hosted gold deposits of the ~2,800 million year old Witwatersrand of South Africa, except these rocks are younger, being approximately 2,115 million years old.



Figure 1. Map showing the location of the Anumso property.

Cannot view this image? Please visit [http://orders.newsfilecorp.com/files/853/21607_a146845637234… to view Figure 1.

Approximately 1,500m of mineralized conglomerate beds have been drill tested by previous explorers including Goldplat, with wide (200m) to moderately-detailed (40m) drill spacing providing the basis for historic resource estimates up to 136,000 oz of Au @ 2.07 g/t. The remaining strike portions of Banket beds not tested by drilling reveal anomalous gold in soil samples.

Select drill intervals within 2012 Goldplat drill holes (Table 1) indicate the presence of multi-gram gold mineralization within multiple stratigraphic horizons within the tested area. It is anticipated that further drilling will expand the strike and dip dimensions of this mineralization as well as improve confidence in correlating gold-bearing beds between drill holes. Importantly, similar parallel but untested conglomerate beds occur to the west. It is unclear whether these layers are fold repetitions of the same mineralized conglomerates or represent similar but parallel stratigraphic horizons.
Hole ID Easting* Northing* Total Depth
(m) Azimuth Dip Depth from
(m) Depth to
(m) Interval Grade
(g/t)
AGDD004 698602 697094 168 321 -50 72.50 75.00 2.50 8.04
107.50 109.00 1.50 4.15
140.00 140.50 0.50 4.60
AGDD005 698572 697130 179 321 -50 76.50 77.00 0.50 7.23
167.50 168.00 0.50 3.03
AGDD011 698770 697415 180 317 -50 18.00 18.50 0.50 3.33
47.50 48.00 0.50 7.25
AGDD015 698998 697689 135 315 -50 71.50 72.00 0.50 12.40
AGDD027 699763 698605 159 323 -50 133.70 135.15 1.45 5.02
148.00 149.50 1.50 3.58
153.70 154.50 0.80 4.26
AGDD031 698474 696789 420 317 -65 258.00 258.50 0.50 10.65
317.50 318.00 0.50 6.76
379.00 379.50 0.50 11.65
AGDD032 698413 696664 411 315 -65 310.50 311.00 0.50 57.90
322.00 323.00 1.00 3.17
326.50 327.00 0.50 6.38
359.50 360.00 0.50 3.73


1. UTM WGS84 30N

Table 1. Select drill results from drilling by Goldplat plc.

The concession also straddles the sheared Ashanti Belt margin which hosts the >7 M oz Newmont Akyim gold deposit along the same sheared margin approximately 15km to the east. This belt-margin shear zone is not adequately explored and represents untested opportunity.

GSR intends to assess and expand the resource area down dip and along strike to the east and southwest as well as investigate the potential for gold in parallel stratigraphic horizons and along the sheared belt margin.

Following the negotiation and execution of a formal option agreement, GSR will commission an NI 43-101 compliant technical report on the Project, and make application for TSX Venture Exchange approval.

It is GSR's intention to raise sufficient funds, by way of a non-brokered private placement, to be able to undertake the initial US$1,500,000 of expenditures on the Project so as to earn a 51% interest therein. Details will follow in a subsequent news release.

In addition, GSR anticipates it will engage new management to see the Company through this new opportunity. Details will be released as known.

ON BEHALF OF THE BOARD

"Michael Turko"
Michael Turko, President and CEO

Contact Information

Gulf Shores Resources Ltd.
1631 Dickson Ave.
Suite 1100
Kelowna, B.C. V1Y 0B5
TEL [phone]
FAX [phone]
EMAIL [e-mail]

Qualified Person

The information presented in this Press Release has been reviewed by Dr. Paul Klipfel CPG of Mineral Resource Services Inc. and Qualified Person as defined by Canadian NI 43-101. Dr. Klipfel is not an Independent Person, as he is a shareholder of GSR. The data presented has been generated by historic explorers and is stated by them to be compliant with JORC rules of disclosure, however the Company has not independently verified such data, and readers are cautioned not to place undue reliance thereon.

Cautionary Statement on Forward-Looking Information

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 news release includes "forward-looking statements", including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company and are considered "forward-looking information for the purposes of Canadian Securities laws. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. There is no assurance the Company will be successful in negotiating a final agreement with Goldplat, that the Company will be successful in raising the funds necessary to earn any interest in the Project, that the Company will be successful in maintaining tenure to the Project due to political or legal changes that are at the discretion of the Ghanaian government, that historic drill results will be verified by the Company, or that any economic resource will be located within the Project.

[Blacksidi]

Heute ein Bid-Ask von 0,3 CAD, das sind mal +130%

[Blacksidi]

Bei dieser Marktcap. immer noch krass unterbewertet:

Details zu Gulf Shores Resources
Unternehmen

Gulf Shores Resources Ltd
Branche

Erdöl & Erdgas
Herkunft

Kanada
Aktienanzahl

1,83 Mio.
Marktkapitalisierung

146,76 Tsd€
Symbole

WKN: A2AMVS
SYMBOL:
VALOR: 33038555

[Blacksidi]

Gulf Shores Resources Announces Corporate Transformation
V.GUL | 16 hours ago
Vancouver, British Columbia--(Newsfile Corp. - July 26, 2016) - Gulf Shores Resources Ltd. (TSXV: GUL) ("GSR" or the "Company") is pleased to announce a major corporate change, which includes new management, new directors and a new name.

Tim McCutcheon has been appointed Chief Executive Officer of the Company. Mr. McCutcheon has also been appointed as a Director of the Company. Paul Klipfel has been appointed COO. Andrew Aitchison has been appointed Consulting Geologist. Jacqueline Collins has been appointed Corporate Secretary. All of the above appointments are effective August 1, 2016. Information on each new appointee is below:

Tim McCutcheon: CEO

Mr. McCutcheon is a capital markets professional and mining corporate manager with over 20 years of international business experience. He worked in multiple financial institutions such as Bear Stearns, Aton Capital and Pioneer Investments as an award-winning metals and mining sector analyst and as an investment banker. In 2006 he was a founder of DBM Capital Partners, a boutique mining resource merchant bank with AUM of $130M and $100M completed M&A before being sold to a UK-based hedge fund in 2009. Since 2009, Mr. McCutcheon has been a director/CEO of several public Emerging Markets mining resource companies with assets in Russia, Kyrgyzstan, Slovakia and Ghana. Mr. McCutcheon in 2012 — 2013 served as CEO of Abzu Gold, a Kinross earn-in partner in Ghana, and successfully turned the company around with a refinancing package, new investor base and corporate restructuring. Mr. McCutcheon attended Columbia University, where he received his BA and MBA.

Paul Klipfel: COO and Chief Geologist

Dr. Klipfel has 35 years of gold exploration leadership and project development experience in North America, South America, Australia, South Pacific, Africa, and Asia working for major and junior explorers. He has been a contributor to the discovery process on several major gold deposits including Las Cristinas, Venezuela (>12 Moz); Musselwhite, Ontario, Canada (>5 Moz); Esaase, Ghana (>5 Moz); Livengood, Alaska, USA (>10 Moz). Dr. Klipfel was President of Abzu Gold from 2010 — 2013, working in Ghana on the development of gold properties, including in the Ashanti belt area. Dr. Klipfel has graduate degrees from the Colorado School of Mines and from the University of Idaho, as well as a doctorate degree from the Colorado School of Mines.

Andrew Aitchison: Consulting Geologist

Mr. Aitchison has 28 years of mining, exploration and project development experience in Australia, Turkey, Ghana, Russia, Kazakhstan, Vietnam, New Zealand, Canada, Burkina Faso, Chile and Peru. Mr. Aitchison has held senior and management positions with Rio Tinto (CRAE), Newmont and private mining groups. He was Manager Mineral Resources and Mine Planning for Goldfields in Ghana. Andrew's career highlights include 4 Moz gold discovery at the Kluchevskoye project in Russia and 2.3 Moz PGM discovery at the Kondyor project in Russia. Andrew has a Bachelor of Science degree (B.Sc) with majors in geology, chemistry and mathematics, from the University of Newcastle and is currently completing an MBA in Paris specializing in "Project Finance in Emerging Markets."

Jacqueline Collins: Corporate Secretary

Ms. Collins is a Securities/Corporate Finance Paralegal with over 25 years' experience as a legal administrator, corporate secretary and paralegal at both independent and national law firms, and with public resource companies.

In addition to the new management appointments, the Company also announces the appointment of Grant Sinitsin as a Director. Mr. Sinitsin serves as the Head of the Moscow Natural Resource Advisory Group for Garber, Hannam & Partners (formerly Fleming Family & Partners (Russia) Limited). Mr. Sinitsin has 25 years of experience in the resource and investment banking industries, including 20 years based in Moscow. Over his career, he has been a Senior Equity Analyst for Fleming UCB where he covered the Russian metals and mining sector. He serves as a Non-Executive Director of Lubel Coal Company Ltd. Mr. Sinitsin holds a Bachelor of Commerce degree from the University of British Columbia and is a Chartered Financial Analyst.

The Board wishes to extend its gratitude to Mr. Michael Turko for serving as President and Chief Executive Officer. Mr. Turko will remain with the Company as a Director. The Company also notes the resignation of George Langdon as a director. The Board thanks Mr. Langdon for his service.

The Company also announces that it will change its name to Ashanti Gold Corp. to better reflect the new direction of the Company and its area of operations in Ghana in the Ashanti gold belt. On July 13, 2016 the Company announced it has signed a Letter of Intent (LOI) with Goldplat PLC ("Goldplat"), an AIM-listed public company, to earn an interest in the Anumso Gold Project (the "Project") in Ghana.

Tim McCutcheon is quoted: "I am very happy to step up and lead Ashanti Gold and honored that so many experienced professionals have joined the team with me. Anumso is a great cornerstone property and I look forward to using this platform to expand our presence in West Africa and grow a world-class gold mining development company."

ON BEHALF OF THE BOARD
"MICHAEL TURKO"
Michael Turko, CEO

Contact Information

Gulf Shores Resources Ltd.
1631 Dickson Ave.
Suite 1100
Kelowna, B.C. V1Y 0B5
TEL [phone]
FAX [phone]
EMAIL [e-mail]

Cautionary Statement on Forward-Looking Information

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 contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.


Read more at http://www.stockhouse.com/news/press-releases/2016/07/26/gul…

[Blacksidi]

Antwort auf Beitrag Nr.: 52.929.949 von Blacksidi am 27.07.16 18:32:15

Oha, jetzt also Ashanti Gold und gleich +160%

[Blacksidi]

Antwort auf Beitrag Nr.: 52.929.976 von Blacksidi am 27.07.16 18:35:24

Ein gutes Management, ein gutes Projekt, das macht eine fundamentale Neubewertung mit +300% in CA und die Marktkapitalisierung ist mit 917.000 CA$ immer noch gering.
Goldene Zeiten.

[niemwolf]

Trading Halt schon aufgehoben?

[Blacksidi]

Antwort auf Beitrag Nr.: 52.935.673 von niemwolf am 28.07.16 10:57:17

Ja, in Frankfurt und Stuttgart wird seit heute morgen gehandelt.

[Bakashi]

Hi
Ich möchte das Unternehmen nicht bashen aber die Daten die hier
veröffentlicht wurden sind nicht ganz korrekt.



Hier sind die aktuellen richtigen Daten:

Market Cap: 8,649,758 Millionen CAD

Total Shares:17,299,516 Millionen

http://web.tmxmoney.com/quote.php?qm_symbol=gul

[Blacksidi]

Antwort auf Beitrag Nr.: 52.937.434 von Bakashi am 28.07.16 14:07:13

OK, danke, meine Quellen von stockhouse http://www.stockhouse.com/companies/quote?symbol=v.gul

sagen zwar immer noch 917.000 aber im Zweifel glaube ich eher die höheren.

Also danke für die Korrektur.

[Blacksidi]

Hier in Wallstreet Online sind auch kleinere Zahlen, passend zu Stockhouse
Marktkapitalisierung
702,62 Tsd€
http://www.wallstreet-online.de/aktien/gulf-shores-resources…

[Blacksidi]

Die Kurskorrektur nach dem Anstieg scheint vorüber, es geht wieder aufwärts. Mit News in Zukunft kann man rechnen, da ein neues Management, neue Projekte etc.
Bin mir ziemlich sicher das wir hier goldige Zeiten bekommen. Viel Glück!

[Blacksidi]

Ist noch jemand hier investiert? Oder bin ich alleine?

[Blacksidi]

Jetzt offiziell Ashanti Gold im WO

[Blacksidi]

News

Ashanti Gold Announces Mali Gold Project Earn-in Agreement
VANCOUVER, BC / ACCESSWIRE / August 22, 2016 / Ashanti Gold Corp. (TSXV: AGZ) ("AGZ" or the "Company") is pleased to announce it has signed a Letter of Intent (LOI) with Alecto Minerals PLC ("Alecto"), an AIM-listed public company, to earn an interest in the Kossanto East Gold Project (the "Project") in western Mali (Figures 1 and 2).

The LOI provides AGZ with the right to earn 65% of Alecto's interest (after including the Mali State carried interest of 10%, AGZ ownership of the property upon completion of the earn-in agreement will be 58.5%) in the Project by completing a Preliminary Feasibility Study ("PFS") within 36 months following the date of TSXV approval (the "Option Period"). AGZ may elect to pay in cash US$4.0M to Alecto within 90 days following the end of the Option Period in lieu of producing a PFS. AGZ will be the operator of the exploration and development programs during the Option Period.

Upon completion of its earn in rights, AGZ and Alecto will form a joint venture whereby each party will contribute proportionally to the Project's continuing exploration and development. The terms of the joint venture, including an interest dilution clause, will be set out in an option agreement that is currently being finalized by Alecto and AGZ.

If either party's interest is reduced to 10% or less (not including the Mali State interest), that interest will be converted into a 1.5% net smelter return royalty (the "NSR") which the other party will have the right for one year to purchase by paying US$100,000 for each 0.1% of the NSR.

The Kossanto East Project is a 66.41 km2 concession in the prolific Kedougou - Kenieba Inlier, the northwestern most exposure of Birimian rocks in West Africa. The Property hosts two principle drill-tested targets, Gourbassi East ("GE") and Gourbassi West ("GW") and several surface anomalies. Geochemical anomalies identified by previous explorers and Alecto led to drill testing, successful intersection of gold mineralization, and production by Alecto of an initial Inferred Resource1 estimate of 121,000 oz gold for GW and a 126,000 oz gold for GE. Gold hasbeen intersected in drill holes over a ~1 km strike length at GW and over a ~900m strike length at GE. Both areas remain open along strike and down dip and include some notable drill intercepts (Table 1). One of the other target areas (Berola) has been tested with shallow Rotary Airblast Drilling (RAB) and returned positive, first-pass intercepts (Table 1).

Gourbassi East is a NNW striking mineralised zone with notable gold grades (multi-meter intercepts at greater than 2 g/t; Table 1) located within a body of felsic volcanics. The Gourbassi West prospect lies approximately 3.7 km WNW of Gourbassi East. Similar gold intercepts are associated with silicified sandstones and NNW striking zone of mineralization (Figure 2).

The Kossanto East Project is located within the highly gold-endowed West Mali Gold Belt which extends approximately 180 km in a north-south direction along the Mali-Senegal border. The Project lies near the intersection of the Senegal-Mali Shear Zone and the Main Transcurrent Shear Zone, two major structures within this district associated with numerous world class orogenic gold deposits (Figure 1). Over the last 20 years approximately 40M oz of gold has been discovered in proximity to these structures resulting in construction of at least 8 new mines, including the world class Loulo group of deposits, Sadiola, Yatela, Gounkoto, Segala, Tabakoto, and Sabodala (Figure 1).

AGZ is very pleased to undertake exploration in this rapidly emerging district. Existing data for GW and GE along with nearby large gold deposits, suggests that significant mineralization could be present at grades, continuity and extent for definition of a larger resource that could lead to mine development in this rapidly emerging key gold region.

Image: https://orders.newsfilecorp.com/files/853/22209_agz.ht1.jpg

Cannot view this image? Please visit http://www.accesswire.com/uploads/22209_agz.ht2.jpg to view Figure 1

Figure 1. Geologic map of the Kedougou - Kenieba Inlier, the most northwest extent of Birimian rocks in West Africa. The Kossanto East Project is situated at the convergence of the Main Transcurrent Shear Zone and the Senegal-Mali Shear zone offering a rich structural environment for the formation of gold deposits. (adapted from Lawrence, et al., 2013; Economic Geology v.108,pp. 199-227. Gold ounces from Annual Reports and various on-line sources.)

Image: https://orders.newsfilecorp.com/files/853/22209_agz.ht3.jpg

Cannot view this image? Please visit http://www.accesswire.com/uploads/22209_agz.ht4.jpg to view Figure 2

Figure 2. Kossanto East Project location and targets.

Table 1:

Select Drill Intervals from Alecto Drill Data

Hole # From (m) To (m) Interval (m) Au (g/t)
Gourbassi East
CGM_GRC01 60 75 15 2.18
CGM_GRC05 9 14 5 2.24
CGM_TF07 92 99 7 3.10
CGM_TF11 42 55 13 2.07
GDD01 0 80.5 80.5 0.80
incl 0 14.8 14.8 3.10
GRC14 24 53 29 2.70
incl 28 34 6 7.94
GRC-15 7 60 53 1.51
incl 7 12 5 4.36
incl 19 31 12 2.55
GRC16 0 75 75 2.04
incl 3 8 5 11.28
incl 17 35 13 3.88
GRC17 29 75 46 2.16
incl 32 49 17 3.86
GRC18 47 51 4 3.72
GRC19 34 65 31 1.31
incl 35 48 13 2.29
GRC25 56 65 9 1.99
incl 56 60 4 3.25
GRC31 72 75 3 5.22
GRC32 113 119 6 4.18
incl 114 118 4 5.88
GRC33 51 75 24 1.73
incl 52 62 10 2.91
69 74 5 2.10
GRC34 73 81 8 2.55
and 90 96 6 1.21
GRC35 64 70 6 1.90
GR37 12 16 4 7.96
GRD04 248 252 4 3.98
TF22 28 30 4 4.63
TF34 0 18 18 2.98
incl 0 7 7 5.72
and 23 27 4 3.53
Gourbassi West
GRABL7/11 0 34 34 1.55
incl 6 12 6 5.89
GRABL27/9 6 36 30 1.28
incl 12 21 9 2.95
GRABL32/3 6 15 9 2.18
GRABL5/11 21 33 12 1.82
GRC43 37 58 21 1.80
incl 45 54 9 3.46
GRC46 47 55 8 1.31
GRC48 82 88 6 2.27
GRC49 2 9 7 1.77
GRC68 36 40 4 2.29
GRC69 26 39 13 4.36
GRC70 96 101 5 1.96
GRC76 24 141 117 0.97
GRC78 5 9 4 3.51
GRC79 14 35 21 1.24
incl 17 23 6 2.56
GRC80 3 14 11 1.04
and 43 46 3 2.95
and 114 120 6 1.81
and 150 152 2 5.73
GRC81 19 52 33 1.36
incl 33 40 7 2.40
ML02 10 27 17 2.05
incl 21 27 6 3.81
ML_07 144 147 3 3.10
Berola
FRABL1/3 0 12 12 0.65
FRABL1/4 0 9 9 0.83
FRABL4/6 0 15 15 1.18
FRABL4/7 0 18 18 0.73
On Behalf of the Board of Directors of
ASHANTI GOLD CORP.
"Tim McCutcheon"
Tim McCutcheon
CEO

For further information, please contact:

Ashanti Gold Corp.
2300 - 1177 West Hastings Street
Vancouver BC, V6E 2K3
Phone: [phone]

Qualified Person

The information presented in this Press Release has been reviewed by Dr. Paul Klipfel CPG of Mineral Resource Services Inc. and a Qualified Person as defined by Canadian NI 43-101. Dr. Klipfel is not an Independent Person, as he is a shareholder of AGZ.

Historical Data

The historical estimates of inferred resources at GE and GW were developed by Alecto; and are considered relevant by the Company. AGZ is advised that such estimates are compliant with JORC rules of disclosure, however the Company has not independently verified such data, the Company's qualified person has not done sufficient work to classify the historical estimates as current mineral resources, the Company is not treating the historical estimates as current mineral resources, and readers are cautioned not to place undue reliance thereon.

Cautionary Statement on Forward-Looking Information

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THATTERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release includes "forward-looking statements", including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company and are considered "forward-looking information for the purposes of Canadian Securities laws. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. There is no assurance the Company will be successful in negotiating a final agreement with Alecto, that the Company will be successful in raising the funds necessary to earn any interest in the Project, that the Company will be successful in maintaining tenure to the Project due to political or legal changes that are at the discretion of the Malian government, that historic drill results will be verified by the Company, or that any economic resource will be located within the Project.

1Inferred Mineral Resource

An Inferred Mineral Resource is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.

An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.

An Inferred Mineral Resource is based on limited information and sampling gathered through appropriate sampling techniques from locations such as outcrops, trenches, pits, workings and drill holes. Inferred Mineral Resources must not be included in the economic analysis, production schedules, or estimated mine life in publicly disclosed Pre-Feasibility or Feasibility Studies, or in the Life of Mine plans and cash flow models of developed mines. Inferred Mineral Resources can only be used in economic studies as provided under NI 43-101.

SOURCE: Ashanti Gold Corp.