African Gold Group, Inc. Elects To Earn An Additional 34% Direct Interest In Mankranho.TORONTO -- African Gold Group, Inc., ("AGG AGG Aggregate AGG Allgemeines Gleichbehandlungsgesetz AGG African Gold Group, Inc. AGG Arnall Golden Gregory LLP (Atlanta, GA) AGG Aggravated AGG Asociación de Gerentes de Guatemala ") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AGG) is pleased to report that pursuant to an earn-in agreement (the "Agreement") made with Columbia River Resources, Inc. ("CRVV CRVV Centrum Ronde Van Vlaanderen (Dutch; Belgium) ") on May 6, 2004, AGG has notified CRVV that AGG has under the Agreement complied with the requirements and has earned a 51% direct interest in the property comprising the Mankranho License. Furthermore, under the terms of the Agreement, AGG has elected to earn an additional 34% direct interest (for a total interest of up to 85%) by expending an additional US $1,000,000 on the Mankranho License. In the event that AGG does not expend the total minimum requirement during the period ended December 31, 2006, the interest held by AGG will revert back to the 51% earned as of December 31, 2004, and the joint venture with CRVV will be formed on that basis under the Agreement. AGG has also entered into a consulting agreement with Michael Baybak and Company, Inc. ("MBC (Multimedia Benchmark Committee) A graphics benchmark that provides MPEG-2 and other tests. See GPC. ") of La Canada, California, under which MBC will provide focused media relations and market development services to AGG. The consulting agreement has a 12 month term until November 15, 2005, and as part of this consulting agreement, AGG has issued 75,000 incentive stock options at the exercise price of CAD $2.00 per share for a three (3) year term. Founded in 1979, MBC is a long-term public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm specializing in the natural resource sector, with a focus on introducing Canadian resource companies of merit to broader institutional and other investor audiences. MBC is headed by Mr. Michael Baybak, an alumnus ALUMNUS, civil law. A child which one has nursed; a foster child. Dig. 40, 2, 14. of Columbia University and Yale Law School Yale Law School, or YLS, is the law school of Yale University in New Haven, Connecticut. Established in 1843, the school offers the J.D., LL.M., J.S.D., and M.S.L. degrees in law. It also hosts visiting scholars and several legal research centers. . Before entering the financial relations field in 1977, Mr. Baybak was a professional business writer for a number of organizations, including McGraw-Hill and The Christian Science Monitor. AGG, based in Toronto, is engaged in the identification, acquisition and exploration of prospective gold projects situated along significant gold trends in Ghana, West Africa. AGG's immediate focus is to systematically explore both surface, and in particular, subsurface targets along three major gold trends: the Sefwi, Asankrangwa and Ashanti Gold Belts. On Behalf of the Board: Kevin J. van Niekerk President and Chief Executive Officer The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. African Gold Group, Inc. (TSX VENTURE:AGG) |
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