November 05, 2012 at 11:32 AM EST
African Gold Group Retracts Press Release November 5, 2012

TORONTO, ONTARIO--(Marketwire - Nov. 5, 2012) - African Gold Group, Inc., ("AGG" or the "Company") (TSX VENTURE:AGG) announced that following discussions with the TSX Venture Exchange regulators, it is retracting its press release issued earlier today concerning analyst coverage. Some of the information about the analyst report contained in the press release was not permitted under TSX Venture Exchange policies, and as a result AGG has made this retraction.

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 at AGG's Kobada, Mali, gold project. The Company is projecting the Feasibility Study will be completed in Q2/2013, at which time the Company will submit an application to obtain an Exploitation License to the appropriate Malian authorities.

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.

Contact:

African Gold Group, Inc.

Michael A. J. Nikiforuk

(416) 644-8892 ext. 101

info@africangoldgroup.com

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