REPEAT - African Gold Group Extends Existing Shear Zone Structures by More Than ~80% at Its Flagship Kobada Property

• African Gold Group would like to invite shareholders and the general public to join AGG management team for a live webinar to discuss ongoing drilling program.
• The investor webinar will take place on Wednesday, November 25^th at 10:00 am (EST). Online registration and participation details may be found at the following link:
• https://zoom.us/webinar/register/WN_o-Lo3uHcRd2Y2YCqekJ6BA
  

TORONTO, Nov. 23, 2020 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to announce the results of its ongoing exploration activities at the Kobada Gold Project in Southern Mali. A detailed study of the airborne magnetic and radiometric survey has delineated a total of 55 km of shear zone structures, an approximate 80% increase from the previously delineated 30 km.

Highlights:

• A reprocessing of airborne magnetic and radiometric survey has led to a re-interpretation of the structural inventory and resulted in a delineation of 55 km of shear zones across the Kobada, Faraba and Kobada Est concessions
• Existing 1.2 Moz in M&I and 1.1 Moz in Inferred resources have been estimated along only 4 km of strike length of the Kobada shear zone (see NI 43-101 Technical Report on Kobada Gold Project in Mali dated July 10, 2020 with an effective date of June 17, 2020 the “2020 DFS”)
• An additional 25 km of shear zones represent a potential for an increase in resources
• Drilling continues in the main shear zone, the Gosso target, and the northern extension of the main Kobada shear zone as part of the 10,000 m drilling programme announced in September (see press release as of September 14, 2020)
• The Company expects to deliver an updated mineral resource estimate during Q1 2021 to incorporate results from the Company’s ongoing drilling program.
  

Re-processing and interpretation of the airborne data was initiated during July 2020 and awarded to John Bell, a geophysicist, with in-depth knowledge of the Birimian geology. The report was received during October 2020 and its very detailed findings have allowed for a re-assessment of the structural inventory at our Kobada project and its neighbouring concessions Kobada Est and Faraba.

The integration of various datasets, including soil geochemistry, radiometrics, various magnetic derivatives, satellite imagery and field observations led to the delineation of 55 km strike length of potentially mineralised shear zones. Known outcrops, historical artisanal excavations, soil sampling and tracing of shears along magnetic features and satellite imagery facilitated the delineation. AGG will test all targets for gold occurrence in the subsequent exploration programmes.