African Gold Group, Inc. KBRC12-084 Intercepts 69 Meters of 2.37 g/t Au; KBRC12-066 Intercepts 20 Meters of 1.63 g/t Au & 9 Meters of 20.96 g/t Au at Kobada, Mali

TORONTO, ONTARIO--(Marketwired - May 15, 2013) - African Gold Group, Inc., (TSX VENTURE:AGG) ("AGG" or the "Company") is pleased to report the analytical results for 72 near surface (oxide), reverse circulation (RC) drill holes, from the Company's Kobada, Mali gold project. The holes reported in this press release comprise a portion of the 2012 Feasibility Study drill program that were infill drilled on 25 meter centers within the (2011) Zone 1 deposit. Drill collars for the RC holes reported in this release are collectively located between sections 1480S through to section 2050S.

Near Surface (Oxide) Drill Highlights From Southern Step Out RC Holes Include:

KBRC12-062: 28 m @ 0.90 g/t Au

KBRC12-063: 13 m @ 4.49 g/t Au

KBRC12-066: 20 m @ 1.63 g/t Au & 9 m @ 20.96 g/t Au

KBRC12-069: 19 m @ 2.99 g/t Au

KBRC12-074: 33 m @ 0.80 g/t Au

KBRC12-075: 28 m @ 0.99 g/t Au

KBRC12-077: 25 m @ 1.01 g/t Au

KBRC12-078: 69 m @ 1.67 g/t Au

KBD12-117: 20 m @ 4.14 g/t Au

KBRC12-081: 45 m @ 1.05 g/t Au

KBRC12-084: 69 m @ 2.37 g/t Au

KBRC12-087: 67 m @ 0.83 g/t Au

KBRC12-089: 11 m @ 6.86 g/t Au

KBRC12-091: 39 m @ 0.89 g/t Au & 42 m@ 0.76 g/t Au & 12 m @ 1.04 g/t Au

KBRC12-094: 36 m @ 0.94 g/t Au

KBRC12-098: 97 m @ 0.95 g/t Au

KBD12-116: 13 m @ 2.24 g/t Au & 47 m @ 0.89 g/t Au

KBRC12-102: 43 m @ 0.73 g/t Au

KBRC12-105: 39 m @ 1.04 g/t Au & 3 m @ 8.07 g/t Au

KBRC12-108: 23 m @ 4.23 g/t Au

KBRC12-125: 51 m @ 0.70 g/t Au

KBRC12-131: 24 m @ 1.08 g/t Au

KBRC12-137: 27 m @ 1.90 g/t Au

KBRC12-144: 48 m @ 1.66 g/t Au

KBRC12-151: 30 m @ 1.19 g/t Au

KBRC12-152: 30 m @ 1.54 g/t Au

The assay results detailing mineralized intercepts for the near surface (oxide) infill RC holes collared between sections 1480S through to 2050S are listed in Table 1 below:

TABLE 1

Section	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Depth (m)	Objective
1480S	KBRC12-060	1.00	4.00	3.00	0.31	117	Zone 1 infill
	KBRC12-060	37.00	40.00	3.00	0.59
	KBRC12-060	50.00	53.00	3.00	0.60
1480S	KBRC12-061	2.00	5.00	3.00	0.30	99	Zone 1 infill
	KBRC12-061	21.00	28.00	7.00	0.97
	KBRC12-061	38.00	44.00	6.00	0.58
	KBRC12-061	62.00	65.00	3.00	0.39
1480S	KBRC12-062	11.00	32.00	21.00	0.46	117	Zone 1 infill
	KBRC12-062	40.00	68.00	28.00	0.90
	KBRC12-062	89.00	92.00	3.00	0.30
1500S	KBRC12-063	8.00	11.00	3.00	0.69	111	Zone 1 infill
	KBRC12-063	24.00	37.00	13.00	4.49
1500S	KBRC12-064	25.00	28.00	3.00	0.96	93	Zone 1 infill
	KBRC12-064	65.00	73.00	8.00	0.67
1500S	KBRC12-065	6.00	9.00	3.00	1.64	105	Zone 1 infill
	KBRC12-065	92.00	98.00	6.00	0.86
1500S	KBRC12-066	14.00	34.00	20.00	1.63	123	Zone 1 infill
	KBRC12-066	114.00	123.00	9.00	20.96
1500S	KBRC12-067	4.00	12.00	8.00	0.61	129	Zone 1 infill
	KBRC12-067	21.00	24.00	3.00	0.62
	KBRC12-067	52.00	63.00	11.00	0.98
	KBRC12-067	102.00	109.00	7.00	1.11
1500S	KBRC12-068	2.00	18.00	16.00	1.14	135	Zone 1 infill
	KBRC12-068	50.00	53.00	3.00	0.57
1535S	KBRC12-069	10.00	29.00	19.00	2.99	123	Zone 1 infill
	KBRC12-069	43.00	46.00	3.00	0.36
1535S	KBRC12-070	63.00	70.00	7.00	0.63	129	Zone 1 infill
	KBRC12-070	98.00	110.00	12.00	0.56
1535S	KBRC12-071	4.00	9.00	5.00	0.67	117	Zone 1 infill
	KBRC12-071	114.00	117.00	3.00	1.10
1560S	KBRC12-072	NSR				105	Zone 1 infill
1560S	KBRC12-073	2.00	16.00	14.00	1.22	129	Zone 1 infill
1560S	KBRC12-074	0.00	33.00	33.00	0.80	129	Zone 1 infill
	KBRC12-074	59.00	66.00	7.00	1.11
1560S	KBRC12-075	37.00	40.00	3.00	0.61	99	Zone 1 infill
	KBRC12-075	69.00	97.00	28.00	0.99
1585S	KBRC12-076	0.00	9.00	9.00	0.65	99	Zone 1 infill
	KBRC12-076	33.00	36.00	3.00	0.57
1585S	KBRC12-077	9.00	34.00	25.00	1.01	117	Zone 1 infill
	KBRC12-077	45.00	48.00	3.00	1.13
	KBRC12-077	60.00	71.00	11.00	0.45
1585S	KBRC12-078	24.00	93.00	69.00	1.67	93	Zone 1 infill
1585S	KBRC12-079	2.00	17.00	15.00	1.26	129	Zone 1 infill
	KBRC12-079	33.00	36.00	3.00	1.10
	KBRC12-079	50.00	53.00	3.00	0.64
	KBRC12-079	106.00	129.00	23.00	0.31
1620S	KBD12-117	57.50	63.50	6.00	1.37	130	Zone 1 infill
	KBD12-117	73.50	93.50	20.00	4.14
	KBD12-117	105.50	109.00	3.50	1.59
1625S	KBRC12-080	1.00	4.00	3.00	0.79	117	Zone 1 infill
	KBRC12-081	8.00	18.00	10.00	0.52	129	Zone 1 infill
	KBRC12-081	26.00	29.00	3.00	0.51
	KBRC12-081	46.00	91.00	45.00	1.05
	KBRC12-081	99.00	104.00	5.00	0.41
	KBRC12-081	114.00	117.00	3.00	0.31
	KBRC12-081	126.00	129.00	3.00	0.83
1650S	KBRC12-082	2.00	11.00	9.00	0.71	129	Zone 1 infill
	KBRC12-082	26.00	29.00	3.00	1.16
1650S	KBRC12-083	0.00	8.00	8.00	0.66	129	Zone 1 infill
	KBRC12-083	57.00	63.00	6.00	0.90
	KBRC12-083	75.00	78.00	3.00	0.56
1650S	KBRC12-084	0.00	4.00	4.00	0.55	129	Zone 1 infill
	KBRC12-084	60.00	129.00	69.00	2.37
1675S	KBRC12-085	4.00	10.00	6.00	0.46	129	Zone 1 infill
1675S	KBRC12-086	37.00	129.00	92.00	0.55	129	Zone 1 infill
1675S	KBRC12-087	60.00	63.00	3.00	0.50	153	Zone 1 infill
	KBRC12-087	85.00	152.00	67.00	0.83
1700S	KBRC12-088	0.00	9.00	9.00	0.66	105	Zone 1 infill
1700S	KBRC12-089	0.00	11.00	11.00	6.86	123	Zone 1 infill
	KBRC12-089	43.00	47.00	4.00	1.49
1700S	KBRC12-090	5.00	17.00	12.00	0.42	105	Zone 1 infill
	KBRC12-090	32.00	41.00	9.00	0.34
	KBRC12-090	54.00	58.00	4.00	1.13
	KBRC12-090	69.00	83.00	14.00	0.57
	KBRC12-090	102.00	105.00	3.00	0.54
1700S	KBRC12-091	0.00	4.00	4.00	0.39	147	Zone 1 infill
	KBRC12-091	14.00	17.00	3.00	0.33
	KBRC12-091	27.00	30.00	3.00	0.38
	KBRC12-091	39.00	78.00	39.00	0.89
	KBRC12-091	84.00	126.00	42.00	0.76
	KBRC12-091	135.00	147.00	12.00	1.04
1725S	KBRC12-092	2.00	11.00	9.00	0.94	81	Zone 1 infill
	KBRC12-092	23.00	29.00	6.00	0.37
1725S	KBRC12-093	0.00	21.00	21.00	0.69	129	Zone 1 infill
	KBRC12-093	32.00	35.00	3.00	0.31
	KBRC12-093	48.00	51.00	3.00	0.43
1725S	KBRC12-094	5.00	41.00	36.00	0.94	111	Zone 1 infill
	KBRC12-094	59.00	71.00	12.00	1.08
	KBRC12-094	81.00	84.00	3.00	1.48
	KBRC12-094	97.00	101.00	4.00	0.49
1750S	KBRC12-095	0.00	34.00	34.00	0.42	111	Zone 1 infill
	KBRC12-095	46.00	49.00	3.00	0.36
1750S	KBRC12-096	37.00	42.00	5.00	0.95	117	Zone 1 infill
	KBRC12-096	57.00	82.00	25.00	1.06
	KBRC12-096	91.00	115.00	24.00	0.74
1775S	KBRC12-097	0.00	21.00	21.00	0.45	123	Zone 1 infill
	KBRC12-097	65.00	80.00	15.00	1.04
1775S	KBRC12-098	1.00	4.00	3.00	0.31	111	Zone 1 infill
	KBRC12-098	13.00	110.00	97.00	0.95
1800S	KBRC12-099	3.00	7.00	4.00	0.63	94	Zone 1 infill
	KBRC12-099	41.00	45.00	4.00	0.30
	KBRC12-099	54.00	58.00	4.00	0.62
	KBRC12-099	67.00	80.00	13.00	1.07
1815S	KBD12-116	0.00	13.00	13.00	2.24	130	Zone 1 infill
	KBD12-116	28.00	75.00	47.00	0.89
	KBD12-116	88.00	91.00	3.00	0.42
1825S	KBRC12-100	1.00	15.00	14.00	0.40	123	Zone 1 infill
	KBRC12-100	26.00	33.00	7.00	0.33
	KBRC12-100	112.00	115.00	3.00	0.42
1825S	KBRC12-101	9.00	12.00	3.00	0.44	123	Zone 1 infill
	KBRC12-101	27.00	44.00	17.00	0.70
	KBRC12-101	69.00	92.00	23.00	0.65
	KBRC12-101	99.00	102.00	3.00	0.36
1825S	KBRC12-102	1.00	44.00	43.00	0.73	123	Zone 1 infill
	KBRC12-102	91.00	97.00	6.00	1.53
1850S	KBRC12-103	6.00	14.00	8.00	0.42	123	Zone 1 infill
1850S	KBRC12-104	1.00	13.00	12.00	0.59	123	Zone 1 infill
	KBRC12-104	28.00	78.00	50.00	0.66
	KBRC12-104	87.00	90.00	3.00	0.38
	KBRC12-104	113.00	123.00	10.00	1.32
1850S	KBRC12-105	20.00	59.00	39.00	1.04	138	Zone 1 infill
	KBRC12-105	76.00	79.00	3.00	8.07
	KBRC12-105	93.00	97.00	4.00	0.92
	KBRC12-105	104.00	115.00	11.00	0.86
	KBRC12-105	133.00	136.00	3.00	0.34
1875S	KBRC12-106	69.00	72.00	3.00	0.37	99	Zone 1 infill
	KBRC12-106	83.00	86.00	3.00	0.34
	KBRC12-106	96.00	99.00	3.00	1.19
1875S	KBRC12-107	27.00	30.00	3.00	0.33	117	Zone 1 infill
	KBRC12-107	37.00	46.00	9.00	2.86
1875S	KBRC12-108	1.00	8.00	7.00	1.10	123	Zone 1 infill
	KBRC12-108	19.00	25.00	6.00	0.47
	KBRC12-108	32.00	38.00	6.00	0.61
	KBRC12-108	80.00	103.00	23.00	4.23
1900S	KBRC12-109	18.00	21.00	3.00	0.45	123	Zone 1 infill
	KBRC12-109	89.00	101.00	12.00	0.57
1900S	KBRC12-110	2.00	16.00	14.00	0.38	123	Zone 1 infill
	KBRC12-110	32.00	66.00	34.00	0.61
	KBRC12-110	73.00	100.00	27.00	0.57
1925S	KBRC12-111	0.00	3.00	3.00	0.68	105	Zone 1 infill
	KBRC12-111	48.00	51.00	3.00	2.93
	KBRC12-111	101.00	104.00	3.00	0.61
1925S	KBRC12-112	17.00	21.00	4.00	0.62	147	Zone 1 infill
	KBRC12-112	71.00	76.00	5.00	0.38
	KBRC12-112	86.00	89.00	3.00	2.21
1950S	KBRC12-113	54.00	63.00	9.00	2.01	99	Zone 1 infill
	KBRC12-113	72.00	82.00	10.00	0.94
1950S	KBRC12-114	21.00	24.00	3.00	0.44	123	Zone 1 infill
	KBRC12-114	31.00	34.00	3.00	0.68
	KBRC12-114	48.00	51.00	3.00	0.86
	KBRC12-114	76.00	79.00	3.00	0.31
1950S	KBRC12-115	0.00	49.00	49.00	0.59	129	Zone 1 infill
	KBRC12-115	100.00	104.00	4.00	0.54
	KBRC12-115	117.00	129.00	12.00	0.39
1975S	KBRC12-116	2.00	5.00	3.00	0.46	105	Zone 1 infill
	KBRC12-116	24.00	31.00	7.00	0.44
1975S	KBRC12-117	0.00	3.00	3.00	0.70	129	Zone 1 infill
	KBRC12-117	18.00	72.00	54.00	0.68
	KBRC12-117	94.00	105.00	11.00	0.75
1975S	KBRC12-118	26.00	39.00	13.00	1.26	115	Zone 1 infill
	KBRC12-118	51.00	54.00	3.00	3.22
	KBRC12-118	75.00	78.00	3.00	0.42
	KBRC12-118	90.00	114.00	24.00	0.42
2000S	KBRC12-119	0.00	3.00	3.00	1.14	99	Zone 1 infill
2000S	KBRC12-120	33.00	46.00	13.00	0.42	111	Zone 1 infill
	KBRC12-120	78.00	81.00	3.00	0.53
2000S	KBRC12-121	6.00	12.00	6.00	1.18	135	Zone 1 infill
	KBRC12-121	26.00	32.00	6.00	0.72
	KBRC12-121	49.00	52.00	3.00	0.40
	KBRC12-121	60.00	63.00	3.00	0.73
	KBRC12-121	73.00	76.00	3.00	1.49
	KBRC12-121	88.00	91.00	3.00	0.40
	KBRC12-121	101.00	105.00	4.00	0.56
	KBRC12-121	124.00	128.00	4.00	0.96
2000S	KBRC12-122	14.00	54.00	40.00	0.65	111	Zone 1 infill
2010S	KBD12-115	0.00	10.00	10.00	0.51	130	Zone 1 infill
	KBD12-115	24.00	27.00	3.00	2.73
	KBD12-115	38.00	42.00	4.00	1.33
	KBD12-115	55.00	60.00	5.00	0.99
	KBD12-115	73.00	75.50	2.50	4.03
	KBD12-115	125.50	128.50	3.00	0.40
2030S	KBRC12-123	3.00	15.00	12.00	0.31	99	Zone 1 infill
	KBRC12-123	29.00	32.00	3.00	0.44
2030S	KBRC12-124	15.00	26.00	11.00	1.01	123	Zone 1 infill
	KBRC12-124	38.00	61.00	23.00	0.52
2030S	KBRC12-125	0.00	51.00	51.00	0.70	135	Zone 1 infill
	KBRC12-125	83.00	88.00	5.00	0.53
	KBRC12-125	96.00	106.00	10.00	0.27
	KBRC12-125	116.00	119.00	3.00	0.69
2030S	KBRC12-126	29.00	32.00	3.00	0.78	111	Zone 1 infill
	KBRC12-126	47.00	60.00	13.00	0.63
	KBRC12-126	68.00	79.00	11.00	0.31
	KBRC12-126	0.00	14.00	14.00	0.68
2050S	KBRC12-127	28.00	42.00	14.00	0.62	129	Zone 1 infill
	KBRC12-127	40.00	44.00	4.00	0.59
	KBRC12-127	61.00	64.00	3.00	0.32
	KBRC12-127	83.00	86.00	3.00	0.35
	KBRC12-127	124.00	129.00	5.00	0.82
2050S	KBRC12-128	18.00	22.00	4.00	0.64	129	Zone 1 infill
	KBRC12-128	34.00	41.00	7.00	0.33
	KBRC12-128	54.00	63.00	9.00	0.66
	KBRC12-128	82.00	97.00	15.00	1.23
	KBRC12-128	105.00	110.00	5.00	0.43

1.	Significant drilled intercepts have a minimum length of 3m at 0.3 g/t or the product "Length X Grade" greater than 0.9 g.m/t. Intercepts are drilled lengths and may not be true width within a structure dipping 70 degrees to 80 degrees
2.	Up to 7 m of horizontal "waste" included within mineralized intercept
3.	NSR: no significant results

"Today's results lend further credibility to the extent of gold mineralization contained within AGG's Kobada, Mali gold project. Increasing drill density from 50 meter centers to 25 meter centers is anticipated to have a positive impact on increasing average gold grade within the overall Kobada deposit as well as upgrading the resource from the Inferred category to Measured and Indicated. At present, the overall strike length of the Kobada gold project now stands at 3,200 meters, representing an increase in strike length of 1,500 meters, relative to the 1,700 meters of strike length reported in the July 14, 2011 press release that detailed the results of the Kobada Preliminary Economic Assessment. We are encouraged to report that Kobada remains open along strike in both directions (north/south), at depth and to the west of the current resource," states AGG President, Michael A. Nikiforuk.

Kobada Review

On July 14, 2011 AGG announced the results of a positive NI 43-101 Preliminary Economic Assessment (the "PEA" or the "Study") that evaluates the potential of an open pit, bulk mining model, utilizing a gravity recovery process plant, at the Company's Kobada (Mali) gold project. The PEA incorporates and includes drill data up to the end of December, 2010. There is no drill data from either the 2011 or 2012 campaign included in the PEA. More specifically, the PEA does not incorporate drill data for the northern extension holes that hold potential to extend Zone 1 up to 2 kilometers north of the Zone 1 deposit, in addition, the PEA does not incorporate the 2011 southern holes that hold potential to extend Zone 1 up to 1.55 kilometers south of the Zone 1 deposit, nor does the Study include any potential from the newly discovered Foroko North deposit, the newly discovered Termite Zone or the recently announced Gosso discovery zone, the latter three discovery zones being separate and distinct structures from Zone 1.

Project Economics - Base Case

The PEA estimates an after-tax Net Present Value (NPV) of US$216.9 million from commencement of construction and an after-tax Internal Rate Of Return (IRR) of 90.57% using a base case of US$1,100 per ounce of gold and a discount rate of 5%.

The Kobada project base case is for processing 20,000 tonnes per day for a total of 7,000,000 tonnes per year in a gravity process plant that is projected to recover 85% of the gold contained in 41,750,000 tonnes of lateritic material assaying 0.64 g/t Au, for average annual production of 126,600 ounces of gold for the first five years of operation. The average annual operating cost is calculated to be US$8.27/t for the first five years of operation with a CAPEX of US$122,500,000. The project produces gold at the direct cost of US$470.90 per ounce. The Study demonstrates that the Kobada gold project is economically optimized by adopting bulk mining versus selective mining. The direct implications of bulk mining are demonstrated in a substantial increase in tonnage and recoverable gold but with an associated decrease in the average gold grade. Please visit www.africangoldgroup.com to review the entire content of AGG's July 14, 2011 press release announcing the results of the positive Preliminary Economic Assessment.

Sampling - QA/QC Program

RC cuttings are recovered at the bottom outlet of the RC rig cyclone into 50-kg capacity poly-weave bags to recover the cuttings from each 1 meter of drill penetration. Each one meter sample weighs an average of approximately 19 to 23 kg. Each sample is passed through a 3-tier Jones Riffler (1 to 8 split), the samples are riffled twice to obtain from 3 to 5 kg of cuttings which are put in a numbered sample bag. Each bag is sealed and picked up on site by ALS Chemex Laboratories for delivery to its Burkina Faso facilities. The remaining 14 to 18 kg of cuttings (field rejects) are stored in camp under tarps to protect the bags against the elements.

Original samples are analyzed using Leachwell on 2 kg of pulp. Leachwell is a bottle roll cyanidation procedure with the addition of a catalyst to speed up gold dissolution. A QA/QC program is in place and includes: blank (1 in 20 samples), duplicates (1 in 20), standards (1 in 20), external lab checks (1 in 30) and two different analytical procedures checks (1 in 100).

Under the guidelines of National Instrument 43-101, the qualified person for the Kobada Gold Project is Mr. Pierre Lalande, P. Geo. Mr. Lalande is a member of the Association of Professional Geoscientists of Ontario and has reviewed and approved the contents of this news release.

African Gold Group, Inc., based in Toronto, Canada, is fully focused on transitioning from an exploration / development company into a gold producer. In conjunction with this objective, a full Feasibility Study is currently underway for AGG's Kobada, Mali gold project. The Company is projecting the Feasibility Study will be completed in Q4/2013, at which time, the Company will submit an application to obtain an Exploitation License to the appropriate Malian authorities.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The preliminary assessment includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary assessment will be realized.

Additional Information is available on the Company's website at www.africangoldgroup.com and on www.sedar.com and through the Company's offices at: Sun Life Financial Tower, Suite 2518, 150 King St. West, Toronto, Canada M5H 1J9.

On Behalf of the Board:

Michael A. J. Nikiforuk, President, Director