African Gold Group Extends the Expiry Date of Certain Outstanding Common Share Purchase Warrants for One Year

TORONTO, ONTARIO--(Marketwired - May 10, 2016) - African Gold Group, Inc. (TSX VENTURE:AGG) ("AGG" or the "Company") announces that the TSX Venture Exchange (the "Exchange") has consented to the Company's application to extend the expiry date of certain of its outstanding common share purchase warrants (the "Warrants"). Consent was given to extend the term of 10,002,601 Warrants with an exercise price of $0.18 per common share and due to expire on May 21, 2016 by one year to May 21, 2017.

These Warrants were issued pursuant to a private placement of 20,005,208 units, which closed on May 21, 2014. For further information on the original issuance of the Warrants, please refer to the press release of the Company dated May 21, 2014 filed on SEDAR.

Warrantholders are advised that replacement Warrant certificates will not be issued and that the original Warrant certificates must be presented to the Company in order to effect the exercise or transfer of such Warrants.

About African Gold Group

African Gold Group is a Canadian exploration and development company that is focused on West Africa. African Gold Group is positioned to grow in value as it progresses the Kobada Gold Project through development and into production. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.

Neither the 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.