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African Gold Group Appoints ABS Africa to Conduct ESIA at Kobada Gold Project

TORONTO, Nov. 12, 2019 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (AGG.V) (“AGG” or the “Company”) is pleased to announce that Advisory on Business and Sustainability Africa (Pty) Ltd (“ABS Africa”) was appointed to undertake the Environmental and Social Impact Assessment (the “ESIA”) as well as the Environmental Permitting Process for AGG’s Kobada Gold Project. The ESIA and permitting process will be undertaken in partnership with a well-respected local partner.

“ABS Africa offers a complete range of sustainability services to clients in the mining, infrastructure and energy sectors. Our team of social and environmental professionals have completed numerous ESIAs in East, West and Southern Africa. Our team is familiar with the need to ensure that the project design and assessment process addresses both in-country legal requirements as well as best practice guidelines such as the Equator Principles and associated IFC Performance Standards” said Fanie Coetzee, Director of ABS Africa.

“ABS Africa is looking forward to renewing its working relationship with SENET and contributing to the successful completion of the Kobada Gold Feasibility Study for AGG.”

As a part of the program to deliver a definitive feasibility study, the Company is working on updating the approved ESIA at the Kobada Gold project. The Kobada Gold project is fully licensed and permitted by the Government of Mali. However, in anticipation of the construction beginning in 2020, it was deemed necessary by the management to update the ESIA to include the results of the 2019 drill program and account for the developments at site. Management of the Company does not expect any major changes to the existing ESIA. The updated ESIA study will be prepared in accordance to IFC and World Bank international guidelines.

About African Gold Group

African Gold Group is a Canadian listed exploration and development company on the TSX Venture Exchange (AGG.V) 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 further information please contact:

Stan Bharti
President and Chief Executive Officer
(416) 861 2267

Forward-Looking Statements

This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the Company’s development and exploration plans for the Kobada project, the timeline for the completion of the definitive feasibility study and ESIA 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.

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