TORONTO, May 13, 2020 (GLOBE NEWSWIRE) — African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to provide an update on its fully permitted Kobada Gold Project in Southern Mali.
Highlights include:The Company’s activities remain unaffected by the Covid-19 pandemic.Strict response plan imposed at the Kobada Gold Project reducing the workforce to key personnel and under strict social distancing and hygiene rulesProject development timeline has not been impacted by the Covid-19 related measuresDefinitive feasibility study (the “DFS”) is on track and expected to be delivered in Q2 2020The Company is making preparations for additional field work at Faraba and Kobada extension exploration concessionsOperational updateThe Company has made comprehensive operational changes to continue the work on the DFS expected to be delivered in Q2 2020. Given the Kobada Gold Project`s current development stage, which is centered on completing the DFS, there have been no considerable impacts to the development timeline as the result of Covid-19 pandemic.Following a comprehensive drilling campaign in 2019-2020, with an improved understanding of the controls of mineralization at the Kobada Gold Project’s main shear zone, there exists the potential to locally expand the project’s resource with targeted drilling. This was recently illustrated with the Gosso target, where targeted grab samples proved additional mineralized zones. The Company views its Faraba and Kobada extension exploration concessions as highly prospective targets for the potential discovery of additional centres of mineralization. To that end, we are continuing to plan for additional drilling at our exploration concessions once the restrictions are lifted by Malian government.COVID-19There have been no confirmed cases of Covid-19 infection reported by any of the Company`s employees or contractors. As per Malian regulations, the Company has enacted a strict response plan to ensure the well-being of its employees and contractors.The Company regards the health and safety of its employees and the communities in which we operate as our highest priority. The Company’s activities remain unaffected. On the ground, the workforce has been reduced to key personnel only and continues to operate with strict social distancing rules.The Company will continue to review its response to Covid-19 to ensure the well-being of its employees and the business are safeguarded, especially as lockdown restrictions are lifted and employees start returning to work. Although, all international travel in Mali remains suspended, the Company has implemented a rapid response plan to ensure operational readiness when the restrictions are lifted by Malian government.About African Gold GroupAfrican Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (TSX-V: AGG) with its focus on developing a gold platform in West Africa. Its principal asset is the Kobada Project in southern Mali. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.For more information:Daniyal Baizak
VP Corporate Development
(416) 861 2966Cautionary statementsThis press release contains “forward‑looking information” within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, timeline for delivery of the DFS, Covid-19, the Company’s response to the resumption of work, exploration of the Faraba and Kobata extensions and other statements with respect to the future plans or intentions of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “aims”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of exploration activities; regulatory risks; risks inherent in foreign operations; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.NEITHER 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.
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