African Gold Group Closes Strategic Investment and Announces Board and Management Additions - Seite 3

AGG paid a cash fee of $306,600 and issued 3,406,666 compensation warrants (each a "Compensation Warrant") to GMP Securities L.P. and Delano Capital Corp. for financial advisory services completed in connection with the offering. Each Compensation Warrant entitles the holder to acquire one Unit at $0.09 for a period of twenty-four (24) months from the date of closing, with each Unit being issued on the same terms as under the offering.

About African Gold Group

African Gold Group is a Canadian exploration and development company with its focus on West Africa. African Gold Group is focused on the development of the Kobada Gold Project in Mali, a low capital and operating cost gold project with potential to produce more than 50,000 ounces of gold per annum. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.

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.

Forward-Looking Statements

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.

African Gold Group, Inc.
Brett Richards
President and Chief Operating Officer
[phone]
[e-mail]
www.africangoldgroup.com