AGG African Gold Group Inc

African Gold Group, Inc., ("AGG" or the "Company") (TSX VENTURE:AGG) is pleased
to announce that the Company has entered into an agreement to sell 100% of its
Mankranho, Ghana concession to Newmont Ghana Gold Limited ("NGGL"). 


Under the terms of the sale, NGGL will purchase AGG's Mankranho concession for
total consideration of US$4,000,000.


The 108 sq km Mankranho concession is located in the Brong Ahafo region of Ghana.

"The sale of Mankrnaho to NGGL represents a significant milestone for AGG,
particularly in light of the current macroeconomic environment. The monetization
of this asset represents the first step in unlocking the intrinsic value of the
Company's Ghanaian assets, which in turn facilitates a non-dilutive solution to
funding the ongoing exercise of completing a full Feasibility Study at AGG's
Kobada, Mali gold project. Moving forward, our sole focus will be putting Kobada
into production, as expeditiously as possible," states AGG President, Michael A.
Nikiforuk.


Sierra Partners LLC, headquartered in Denver, Colorado, acted as sole financial
advisor to AGG on this transaction.


The closing of the transaction remains subject to standard closing conditions,
including all required regulatory approvals.


African Gold Group, Inc., based in Toronto, Canada, is engaged in the
identification, acquisition and exploration of prospective gold projects that
are situated along significant gold trends within West Africa.


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

African Gold (TSXV:AGG)
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