African Gold Group Appoints Epoch Resources to Undertake the Feasibility Study of the Tailings Storage Facility and Appoints a New Director

TORONTO, Oct. 22, 2019 (GLOBE NEWSWIRE) -- African Gold Group, Inc. (TSX-V: AGG) (“AGG” or the “Company”) is pleased to announce that it has contracted a leading professional service provider to oversee a critical part of its infrastructure design. SENET, our engineering, procurement and construction company managing the definitive feasibility study for AGG, has contracted Epoch Resources (Pty) Ltd (“Epoch”), a leading professional service provider in the areas of mining infrastructure design, to undertake the Feasibility Study of the Company’s tailings storage facility at the Kobada project.

Epoch is a South African based company with extensive design, project execution and ongoing monitoring/inspection of tailings storage facilities (“TSFs”) within Africa and particularly in West Africa. “In this project we will continue our long-term synergy and working relationship with SENET and deliver a highly successful project for AGG,” said Dr. George Papageorgiou, Director of Epoch.

“I have personally worked with Epoch on a number of projects for TSF design and I am looking forwards to working with them once again,” says Danny Callow, the Company’s Chief Operating Officer. “With a number of recent TSF failures in many parts of the world, this is a critical part of the infrastructure design, and we are pleased that Epoch are on board with us.”

Director Appointment

The Company is pleased to announce that Ryan Ptolemy, the Company’s Chief Financial Officer, has been appointed as a director of the Company. Mr. Ptolemy is a CPA, CGA and CFA charter holder and obtained a B.A. from Western University. He serves as CFO and director to a number of public and private companies in the mining sector.

About African Gold Group

African 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 Mali.

For more information:

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

Cautionary 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, statements regarding, the intended use of proceeds and other matters relating to the appointment of Epoch and the development of the Company’s TSF. 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”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements 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 AGG to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although AGG 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. AGG 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.