African Gold Group Delivers a 44% Increase in Measured and Indicated Mineral Resource for the Kobada Gold Project to 1.71 Million Ounces

View this email in your browser AFRICAN GOLD GROUP DELIVERS A 44% INCREASE IN MEASURED AND INDICATED MINERAL RESOURCE FOR THE KOBADA GOLD PROJECT TO 1.71 MILLION OUNCES    "We are delighted to announce these phenomenal results from our Kobada Gold Project in Mali. With the inclusion of significant exploration drilling within our oxides and fresh rock, we have achieved a substantial increase in total resource to more than 3.1 million ounces, which includes a 44% increase in Measured and Indicated resource of 1.71 million ounces, and a 26% increase in Inferred resource of 1.43 million ounces," commented Danny Callow, CEO of African Gold Group Highlights: A 44% increase in the Measured and Indicated Mineral Resource to 1.71 million Au ounces. A 26% increase in the Inferred Mineral Resource to 1.43 million Au ounces. Significant additional upside in the Inferred Mineral Resource. Gosso target drilling confirmed that the mineralisation and grades are higher than that observed at the Kobada main shear with an average grade of 1.11 g/t. Confidence in the geological model continues to increase with every exploration campaign and holes drilled over the Kobada Gold Project. Recent metallurgical test work completed as part of the feasibility study has revealed the sulphides are free milling and treatable through the same process circuit. Revised Kobada definitive feasibility study expected by the end of September 2021. September 2, 2021, Toronto, Ontario – African Gold Group, Inc. (TSX-V: AGG, OTC: AGGFF, FRA: 3A61) ("AGG" or the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for its Kobada Gold Project (the "Project" or "Kobada") located in southwestern Mali, Africa. The MRE update is based on additional drilling completed on the Kobada main shear from September 2020 until January 2021, which will form part of a revised definitive feasibility study (expected to be delivered by the end of September) (the "2021 DFS"). Additionally, the Company has engaged various advisors to outline potential corporate opportunities.   The drilling campaign was focused on the "gap" area and the northern portion of the Kobada main shear, as well as testing the Gosso target for future potential. The drilling has once again increased the confidence in the geological model even further and resulted in a substantial increase in the Mineral Resource Estimate. Danny Callow, CEO of African Gold Group, commented: "With very little additional drilling on the Phase 4A drill programme, we have proven the continued significant upside in our Kobada asset. These results are substantially better than those in the July 2020 Definitive Feasibility Study, and we are very excited to see this continued growth in measured and indicated resources. From this new drilling, we have added additional shallow, easily accessible inferred resources, and through further targeted drilling programmes, in Phase 4B and 4C we believe there is substantial further upside in resource growth.   We have always stated that there is significant upside in Kobada, and with more than 50 km of shear zones still untested with the drill bit, we believe we are sitting on a substantial world class resource." 2020 Drilling Campaign The 2020 drilling campaign, running from September 2020 until January 2021, consisted of 43 drillholes totaling 6,364 m. Of these, four drillholes (522 m) were drilled at the Gosso target and the remaining 39 drillholes (5,842 m) were drilled in the "gap" area and northern extents of the northern domain of the Kobada main shear. The Gosso drillholes were all completed using diamond drilling while the Kobada drilling was a combination of diamond drilling (8 holes @ 1,258 m) and RC drilling (21 holes @ 2,890 m) with selected RC drillholes being completed with diamond tail (10 holes @ 1,221m RC and 473 m diamond) to drill into the sulphides.   The main focus of the 2020 drilling campaign was to confirm the geological model and improve the confidence in the model even more to enable additional Mineral Resource conversion of the oxides to the measured and indicated resource categories. The drilling was also used to test and confirm the depth extension of the lateritic (soft) material, the transition zone and the sulphides at depth.   For the Kobada main shear drilling, 34 drillholes intersected the mineralised zones and had an average accumulated mineralisation width of 29m @ 1.22 g/t. This drilling has significantly contributed to the increase in the indicated resource in the northern domain of the Kobada main shear. The drilling also highlighted areas of deeper weathering with oxide material extending further down to a depth of approximately 160 m in places, approximately 60 to 80 m deeper than originally anticipated.   The Gosso drillholes confirmed the mineralisation observed in the historical drillholes with the four drillholes having an average accumulated mineralisation width of 12 m @ 1.11 g/t. Figure 1: 2020 Drilling Campaign Figure 2: Section Views of the Mineral Resource Classification of the Main Orebody Mineral Resource The geological model was revised with the additional 2020 drilling campaign information. The biggest impact was in the inferred category of the wireframes, the deepening of the oxide and sulphide transition depth, and not modelling the weathering zones as individual subdomains. The model is divided into five structural and grade-constrained domains which are further split into weathering zones of laterite, saprolite, transition and sulphide. The 2020 Definitive Feasibility Study used a sub-domaining for the weathering profile. However, this was reinvestigated and the mean gold grades per weathering profile show a natural decrease with depth and the log probability plots of the total composites show a good correlation and do not indicate that the orebody should be split into sub domains for estimation purposes. Drillholes were composited to a 1 m length to standardise the sample support size. A capping analysis of the 1 m composited data was conducted per domain to identify any outliers in that dataset. The outlier grade results were capped per domain and the capping represents the 99th or 98th percentile. The search ellipse for the domains were set from the strike and dip directions obtained from the orebody wireframe generation and variograms were generated for all domains. The block model was based on the kriging neighbourhood analysis (KNA) and had a parent estimation cell of 5 m x 10 m x 10 m in the x, y, and z. Grade estimation was conducted using Ordinary Kriging ("OK") based on the variograms and the estimation was done per structural domain.   Geological losses of 5% for measured, 10% for indicated and 15% for inferred have been applied to the Mineral Resource. Only resources falling within a resource open pit shell based on a gold price of USD 1,800 / oz have been declared. Figure 3: Orthographic View of the Mineral Resource Estimation of the Main Orebody Figure 4: A Typical Section Through the Kobada Orebody The two tables below detail the updated Mineral Resource Estimate for 2021. Table 1: Kobada Project Mineral Resources as of 1 July 2021 Table 2: Kobada Mineral Resources per Weathering Zone as of 1 July 2021 The increase in the Mineral Resource from 2020 to 2021 is primarily due to the improved gold price which improved the reasonable prospects of eventual economic extraction by allowing for a larger and deeper resource pit to include more sulphides, the additional drilling information which improved geological confidence and assisted in converting Inferred Mineral Resource to Indicated Mineral Resource. Table 3: Kobada Mineral Resource Reconciliation Quality Assurance / Quality Control   The 2020 drilling campaign was undertaken by AMCO and supervised by Minxcon (Pty) Limited of South Africa. The drilling was a combination of diamond drilling (NQ) as well as RC drilling. Diamond drilling core was split and either sampled in one metre intervals or along lithological or structural contacts. The RC drilling was sampled in one metre increments and riffle split for assay samples. All samples were analysed at SGS (Bamako) Laboratory, a certified commercial laboratory. A strict QA/QC program was applied to all samples; which include insertion of either certified reference material (CRM's), a blank sample or duplicate every 10th sample (i.e. a rate of 10% of submitted samples). The gold analyses were by fire-assay on 50 grams aliquot with AAS finish.   Upside Potential Upside potential remains at the Kobada main shear to upgrade some additional inferred mineral resources to indicated. In addition to this, the Kobada Project has significant upside potential in the 55 km strike of potential mineralised shear zones. Of these, the Gosso Target is the more advanced with limited drilling completed (21 drillholes) with mineralisation in 16 of these drillholes with the latest 2020 drilling confirming mineralisation at this target. Initial field investigations by the AGG geologists, in early 2021, has highlighted the potential at the Kobada Est targets where artisanal mining has exposed mineralised structural features. Figure 5: Future Exploration Potential Qualified Person   The scientific and technical information contained in this press release has been reviewed, prepared and approved by Dr. Andreas Rompel, PhD, Pr. Sci. Nat. (400274/04), FSAIMM, Vice President Exploration of AGG, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and by Mr. Uwe Engelmann (BSc (Zoo. & Bot.), BSc Hons (Geol.), Pr.Sci.Nat. No. 400058/08, MGSSA), a director of Minxcon (Pty) Ltd and a member of the South African Council for Natural Scientific Professions.   About African Gold Group   African Gold Group is a TSX Venture Exchange (TSX-V: AGG) listed exploration and development company with a focus on building Africa's next mid-tier gold producer. The Company has a highly experienced board and management team with a proven track record in the African mining sector operating mines from development through to production. AGG's principal asset is the Kobada Project in southern Mali, which is in an advanced stage of development having completed the 2020 Definitive Feasibility Study and is targeting gold production of 100,000 oz per annum. As well as the initial Kobada Gold Project, other exploration locations have been identified on the Kobada, Farada and Kobada Est concessions, offering potential for an increase in resource. For more information regarding African Gold Group visit our website at www.africangoldgroup.com. For more information:   Danny Callow President and Chief Executive Officer + (27) 76 411 3803 Danny.Callow@africangoldgroup.com Daniyal Baizak Vice President, Corporate Development +1 (647) 835 9617 Daniyal.Baizak@africangoldgroup.com     Scott Eldridge Non-Executive Chairman of the Board +1 (604) 722 5381 Scott.Eldridge@africangoldgroup.com Camarco (Financial PR) Gordon Poole / Nick Hennis +44 (0) 20 3757 4997 AfricanGoldGroup@camarco.co.uk     Cautionary statements   This press release contains "forward‑looking information" within the meaning of applicable Canadian securities legislation. Forward‑looking information includes, but is not limited to, statements regarding, the MRE, the 2021 DFS, engagement of advisors, upside potential at the Kobada Gold Project and drilling and explorations plans of the Company. Generally, forward‑looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".  Forward‑looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AGG to be materially different from those expressed or implied by such forward‑looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although AGG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‑looking information. AGG does not undertake to update any forward-looking information, except in accordance with applicable securities laws.   NEITHER 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.   Follow on Twitter LinkedIn Follow on Instagram Our mailing address is: info@africangoldgroup.com Want to change how you receive these emails? 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GSilver Begins Drilling at El Cubo Provides Update on Mill Reopening

GSilver Begins Drilling at El Cubo Provides Update on Mill Reopening VANCOUVER, BC / ACCESSWIRE / September 1, 2021 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce that underground infill and expansion drilling has commenced at its El Cubo mine located 11km east of the city of Guanajuato, Mexico. Meanwhile, re-commissioning of the Company's primary crusher has been completed in anticipation of the re-commencement of operations at the El Cubo processing plant (click for video). El Cubo Drilling: GSilver has hired Rockdrill Mining S.A. de C.V. (Rockdrill) of Aguascalientes, Mexico to perform underground drilling at its El Cubo mine. GSilver is proud to include Rockdrill (whose clients include Barrick Gold Corp., Newmont Corp., and Pan American Silver Corp.) as another of our top tier service providers while we move El Cubo swiftly back into production. The Rockdrill contract envisions a total of 5,200m of underground drilling, using one of their XRD50 machines to drill primarily NQ diameter holes, generally no more than 300m in length. The rig is ‘Bobcat' mounted for ease of movement from drill station to drill station within the mine (see long- section and drill hole map below). Engineering firm Behre Dolbear & Company (USA) Inc. prepared a Preliminary Economic Analysis technical report (PEA) for GSilver earlier in the year. (The PEA has an effective date of January 31, 2021, with an updated issue date of April 1, 2021; the PEA is available on GSilver's website and on SEDAR.) The PEA discusses inferred resources outlined at El Cubo of 1,453,000 tonnes of 214 gpt Ag and 2.78 gpt Au (435 gpt AgEq) and indicated resources of 508,055 tonnes of 194 gpt Ag and 2.44 gpt Au (389 gpt AgEq). The current drill program at El Cubo is intended to increase the confidence level of these resources as well as provide better grade control data as we begin mining at the 2175, 1850, and Cebolletas stope areas. Proposed drill pattern at the Cebolletas Stope. Operational Team in Place: As the Company increases staff levels necessary for mining and plant operations in Guanajuato, our headcount in Mexico has naturally expanded significantly. As of August 21, 2021, GSilver has directly employed 168 people in Guanajuato, of which 167 (99.4%) are Mexican nationals, and 139 (83%) are from the state of Guanajuato. COO Hernan Dorado commented: "We are especially proud of the large number of local people we have employed. Many are graduates of the University of Guanajuato, which is one of Mexico's top geology, mine engineering, and metallurgical schools." General Update of Operations: Mining continues at El Cubo, with blasting having commenced on August 20, 2021. Mineralised material continues to be stockpiled in the El Cubo lay down yard, near the processing plant, in anticipation of the imminent restart of milling. It is estimated that approximately 6,000 tonnes of mineralised material are now stockpiled at El Cubo awaiting processing. Pre-commissioning of the plant's primary crusher took place on August 25th (click for video). The primary crusher performed very well, achieving throughput of 160 tonnes per hour. New ball mill liners for the Company's three ball mills arrived the same day. Installation of these liners, pre-commissioning of the secondary and tertiary crushers, as well as the installation of additional pumps and upgraded lubricating systems are all tasks necessary prior to the plant re-commencing operations which the Company continues to forecast for Q4, 2021. Update on Pingüico Drilling: Diamond drilling continues at GSilver's El Pingüico project, located 8km from El Cubo. Drilling is ongoing using the Company's Ingetrol 75E diamond drill. To date, the Company has reported results from 10 holes drilled since February 2021 (see highlights and long section below). GSilver is currently drilling P21-19; however results from assay offices in Mexico have been slow to arrive over the past several months. The Company will report additional results when received and fully interpreted by GSilver geological staff. The long section below shows the completed holes in red, proposed holes in blue, and the current hole in green. The area being drilled was overlooked by historic miners 110 years ago because it did not meet the very high cut-off grades of that time. Improved mining methods allow the extraction and processing of much lower grades today. This area is easily accessible by the Company's drill and drill crews, and drilling continues to show good grade and excellent continuity along the El Pingüico and San Jose vein structures. The Company anticipates this proposed drilling will be completed in January 2022, at which point GSilver will decide if it is appropriate to engage a third-party engineering firm to prepare a NI 43-101 resource estimate in this area. Highlights of Recent Drilling Results: Hernan Dorado Smith, a director of GSilver and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release. About Guanajuato Silver Co. Ltd.: GSilver is a mining development company engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company is focused on the refurbishment and swift re-commencement of production from its El Cubo mine and mill and its nearby El Pingüico project, as well as the delineation of additional silver and gold resources through underground and surface drilling. Both projects are located within 11km of the city of Guanajuato, which has an established 480-year mining history. ON BEHALF OF THE BOARD OF DIRECTORS "James Anderson" Chairman and CEO For further information regarding Guanajuato Silver Co. Ltd, please contact: James Anderson, Director, +1 (778) 989-5346 Email: james.anderson@GSilver.com Continue to watch our progress at: www.GSilver.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. Forward-Looking Statements This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the estimates of mineral resources; the attractiveness of potential vein widths and potential coalescing of the San Jose and El Pingüico veins at depth; the opportunities for exploration, development and future production from El Cubo and El Pingüico and the proposed exploration and development programs therefor and the timing and costs thereof; the ability of the Company to successfully refurbish the El Cubo mill, procure equipment, hire personnel and supply and process sufficient mineralized material and resources from El Cubo and El Pingüico through the mill to successfully begin commercial production of silver and gold in Q4 2021 at the projected amounts, grades, costs and revenues and the success related to any future exploration and/or development programs. Such forward-looking statements and information reflect management's current beliefs and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our mineral resource estimates at El Cubo and El Pingüico and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock conforming to sampled results and metallurgical performance; tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; success of the Company's combined El Cubo / El Pingüico operation; prices for silver and gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration, development and production activities, actual resource grades and recoveries of silver and gold, unanticipated geological or structural formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to successfully re-start the El Cubo mill to process mineralized materials to produce silver and gold in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to begin processing mineralized material from its above and underground stockpiles at El Pingüico and estimated resources at El Cubo through the El Cubo mill is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the results of the Company's recently announced preliminary economic assessment and projected production of silver and gold will be realized. There is also uncertainty about the spread of COVID-19 and variants of concern and the impact they will have on the Company's operations, supply chains, ability to access El Pingüico and/or El Cubo or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law. Cautionary Note for U.S. Investors regarding Reserve and Resource Estimates Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (the "SEC") set forth in Industry Guide 7 ("Industry Guide 7"), and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies in accordance with Industry Guide 7. In particular, but without limiting the generality of the foregoing, this news release uses the terms "measured mineral resources", ‘‘indicated mineral resources'' and ‘‘inferred mineral resources''. U.S. investors are advised that, while such terms are recognized and required by Canadian securities laws, Industry Guide 7 does not recognize them. U.S. investors should also understand that "inferred mineral resources" have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of "inferred mineral resources" exist, are economically or legally mineable or will ever be upgraded to a higher category. Under Canadian securities laws, estimated "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Disclosure of "contained ounces" in a mineral resource is permitted disclosure under Canadian securities laws. However, Industry Guide 7 normally only permits issuers to report mineralization that does not constitute "reserves" by Industry Guide 7 standards as in place tonnage and grade, without reference to unit measures. Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with Industry Guide 7. Guanajuato Silver Company Ltd. PH: +1(778) 989-5346 E: info@GSilver.com W: GSilver.com  CA: Suite 578 - 999 Canada Place, Vancouver B.C. V6C 3E1 MX: Carretera - Guanajuato - Silao km 5.5, Int 4, Col. Marfil CP36250, Guanajuato, Gto., Mexico SOURCE: Guanajuato Silver Company Ltd. View source version on accesswire.com: https://www.accesswire.com/662327/GSilver-Begins-Drilling-at-El-Cubo-Provides-Update-on-Mill-Reopening Copyright © 2021 Guanajuato Silver Company Ltd., All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Guanajuato Silver Company Ltd. 578 – 999 Canada Place Vancouver, BC V6C 3E1 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.

GSilver (TSXV: GSVR) CEO James Anderson Provides Video Updates From Site

GSilver CEO James Anderson is excited to share video updates from his visit to site in mid-August.

View this email in your browser GSilver CEO James Anderson Provides Video Updates From Site Following a full ore truck out of our El Cubo mine - here the 7-minute journey is condensed to 1:40. The material is being stockpiled in the El Cubo lay down yard, ahead of the reopening of the processing planned in Q4. Here we see GSilver installing one of its two new cone crushers. Both were installed in mid-August. About Guanajuato Silver Co. Ltd.: GSilver is a mining development company engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company is focused on the refurbishment and swift re-commencement of production from its El Cubo mine and mill and its nearby El Pinguico project, as well as the delineation of additional silver and gold resources through underground and surface drilling. Both projects are located within 11km of the city of Guanajuato, which has an established 480-year mining history. For further information regarding Guanajuato Silver Co. Ltd, please contact: James Anderson, Director, +1 (778) 989-5346 Email: james.anderson@GSilver.com Continue to watch our progress at: www.GSilver.com Sign up to our mailing list to be the first to receive our latest news and updates here. Copyright © 2021 Guanajuato Silver Company Ltd., All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Guanajuato Silver Company Ltd. 578 – 999 Canada Place Vancouver, BC V6C 3E1 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.