December 24, 2010 at 12:45 PM EST
African Gold Group, Inc. Announces Grant of Stock Options

TORONTO, ONTARIO--(Marketwire - Dec. 24, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

African Gold Group, Inc. (TSX VENTURE:AGG) ("AGG" or the "Company") announces that, subject to regulatory approval, it has granted certain directors, officers and employees of AGG an aggregate total of 390,000 incentive stock options to purchase common shares of the Company at the exercise price of $0.92 per common share for a period of five (5) years from the date of issuance, being December 24, 2015. All options shall vest upon grant.

About African Gold Group, Inc.

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. To date, the Company controls a total of eleven gold concessions that are consolidated in five distinct standalone exploration projects, of which three projects are located in Ghana and the remaining two are located in Mali, West Africa.

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.
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