Search Results for "Africa"

Nexus Gold Reports Successful Assay Results From Summer Drill Programs In Burkina Faso, West Africa

Nexus Gold Corp. (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) is pleased to announce initial assay results from its recent diamond drill programs conducted on both the Niangouela and Bouboulou gold concessions, in addition to sampling conducted at the newly acquired Rakounga gold concession, all located in Burkina Faso, West Africa.

– Nine of 10 holes from maiden drill program at Bouboulou intersected gold

– 4.41 g/t Au over 8.15m, including 23 g/t Au over 1m at Bouboulou

– 5.21 g/t Au over 3.05m, including 15.5 g/t Au over 1m at Bouboulou

– 1.04 g/t Au over 23m, including 4.1 g/t over 1m at Bouboulou

– 1.23 g/t Au over 9m, 1.1 g/t Au over 4m at Niangouela

– Sampling as high as 17.3 g/t Au at newly acquired Rakounga concession

“We are very pleased with our assay results from both Bouboulou and Niangouela, as they have significantly furthered our exploration efforts,” said President & CEO, Pete Berdusco. “Specifically, with Bouboulou, we have confirmed historical data, and the zones carrying high-grade gold. We extended intercept lengths with good mineralized continuity, and we’ve extended the depth of the mineralization. The next phases of drilling will continue to define the zones which are open in all directions with the goal of eventually defining a resource,” continued Mr. Berdusco.

Bouboulou Gold Concession – Phase One

The Company has received results from all ten holes from its maiden diamond drill program at the Bouboulou concession which concluded in mid-July. Nine of the 10 drill holes successfully intersected significant gold mineralization. The highlights are as follows: BBL-17-DD-001 returned 6.19 grams per tonne gold (“g/t Au”) over 1.0m; BBL-17-DD-002 returned 2.22 g/t Au over 1.0m; BBL-17-DD-003 returned 3.48 g/t Au over 1.52m; BBL-17-DD-004 returned 5.06 g/t Au over 1.52m; BBL-17-DD-006 returned 1.04 g/t over 23m, including 4.10 g/t over 1.0m; BBL-17-DD-007 returned 5.21 g/t Au over 3.05m, including 15.5 grams g/t Au over 1.0m; BBL-17-DD-008 returned 4.41 g/t Au over 8.15m, including 23 g/t Au over 1.50m. These and other intercepts are tabled below:

Hole Dip From (metres) To (metres) Intersection (metres) Gold (grams /tonne) Zone
BBL-17-DD-001 -50 32.30 35.35 3.05 0.52 Rawema
And 64.30 79.50 15.20 0.50
And 136.36 138.41 2.05 3.07
Includes 137.41 138.41 1.00 6.19
BBL-17-DD-002 -50 62.78 71.93 9.15 0.45 Rawema
And 150.13 155.21 5.08 0.60
Includes 154.21 155.21 1.00 2.22
And 189.75 199.94 10.23 0.54
Includes 198.90 199.94 1.04 2.04
BBL-17-DD-003 -50 47.55 53.64 6.09 0.46 Pelatanga
And 70.41 71.93 1.52 3.48
BBL-17-DD-004 -50 35.07 36.59 1.52 5.06 Pelatanga
And 166.16 168.16 2.00 0.56
And 178.3 179.30 1.00 1.50
BBL-17-DD-005 -50 182.44 195.68 13.24 0.78 Bouboulou 2
Includes 187.54 188.54 1.00 4.10
192.63 193.63 1.00 1.12
194.63 195.68 1.05 1.95
BBL-17-DD-006 -50 182.44 195.68 23.38 1.04 Bouboulou 2
Includes 203.00 204.00 1.00 3.17
204.00 205.00 1.00 4.10
207.04 208.04 1.00 2.03
209.09 210.09 1.00 2.12
213.14 214.14 1.00 1.09
215.19 216.19 1.00 1.26
221.28 222.28 1.00 2.78
BBL-17-DD-007 -50 178.30 181.35 3.05 5.21 Koala
Includes 178.30 179.30 1.00 15.50
BBL-17-DD-008 -50 97.01 105.16 8.15 4.41 Koala
Includes 104.16 105.16 1.00 23.00
236.22 237.22 1.00 3.88
BBL-17-DD-009 -45 NSR Bouboulou 1
BBL-17-DD-010 -60 237.22 241.27 4.05 0.47 Bouboulou 1
Includes 239.27 240.27 1.00 1.67

Note all assay results represent intercept lengths and are not true widths

The drill program instituted at Bouboulou was designed to test and extend either along strike or at depth the zones previously identified on the property. Drilling consisted of 10 holes totaling 2596 meters with two holes testing each of four identified zones (Rawema, Pelatanga, Bouboulou 2 and Koala) and one additional zone, Bouboulou 1, located at the southern boundary hosted on the recently acquired Rakounga property.

“The gold mineralization remains wide open to depth and along strike at all of our Bouboulou targets, and a little surprise at Koala with two greater than 10-gram assays,” said Senior Geologist, Warren Robb P.Geo. “I am really pleased with our results and look forward to expanding these zones at Bouboulou,” continued Mr. Robb.

Niangouela Gold Concession – Phase Two

The Company is also reporting results from its phase two diamond drill program on the Niangouela concession, which concluded in mid-May. The phase two program consisted of 2549.5 meters of diamond drilling and 387 meters of trenching. The program was designed to test strike and depth extensions on the mineralized gold bearing shear zone, which the Company identified in the first phase of drilling reported in March 2017, and to test new targets identified by prospecting. Highlights of these holes are tabled below:

DRILL INTERCEPTS
DRILL HOLE From (m) To (m) Intersection (m) Au (g/t)
NGL-17-DD-015 130.5 134.1 3.60 0.91
INCLUDES 132.2 133.1 0.90 2.59
NGL-17-DD-016 129.8 137.8 5.00 0.52
NGL-17-DD-017 121 123 2.00 0.52
NGL-17-DD-018 185 186 1.00 1.34
NGL-17-DD-025 79 87 9.00 1.23
INCLUDES 80 85 5.00 1.80
NGL-17-DD-027 21 25 4.00 1.10
includes 24 25 1.00 3.59
and 124 129 5.00 0.52

Note all assay results represent intercept lengths and are not true widths

The phase two drill program tested the strike extension of the mineralized quartz vein and shear discovered in the first round of drilling and to test new areas of potential gold mineralization. Drill holes 15 to 25 were drilled to test the down dip and westerly extensions of the shear zone identified in our first phase of drilling. Holes 15, 16, 17, 18, and 25 successfully intersected the zone. The data indicates the high-grade portion (or shoot) of the shear zone is contained within approximately 225 meters of strike bounded by holes 18 and 24 on the west, and holes 13 and trench one, on the east. The gold mineralization has been verified to depths of 145 meters below surface. The structure remains open at depth. Holes 19-24 were drilled in a systematic fashion testing the westerly strike of the shear zone. Although all the holes did intersect the shear zone no economic gold intercepts were recovered.

The 387 meters of trenching was completed in six trenches designed to test strike extension of the main mineralized zone and to test other quartz veins identified by prospecting. Trench 3 returned 0.34 g/t Au over 5m, including 1.56 grams g/t Au over 1m. The remaining trenches did not return significant results.

All rock and drill core samples were analysed at either Actlabs Burkina SARL or ALS Global Burkina SARL Laboratory utilizing either fire assay or Aqua Regia digestion and atomic absorption finish. The company maintains a Quality Control and Quality Assurance program of inserting at regular intervals standards and blanks as well as requiring duplication of samples and comparisons of duplicates between commercial labs.

“Its looking like the high-grade zones at Niangouela could be vertical flexes within the shear,” said Senior Geologist, Warren Robb. “This latest round of drilling really helped us get a better understanding of the project dynamics, and I look forward to chasing and hopefully extending those 100-plus gram assays from earlier this year to depth,” continued Mr. Robb.

The Company is planning follow up work to include drill testing the main shear to depth. The main shear has displayed high-grade gold mineralization and as of the completion of the phase two drilling the zone remains open to depth.

Rakounga Gold Concession – Sampling Results

The Company is also pleased to report results from prospecting from artisanal workings on the newly acquired Rakounga property. In mid July as part of the company’s due diligence program Nexus geologists prospected a single large orpaillage on the Rakounga property which is contiguous with the Bouboulou permit. Initial rock samples from dumps of the workings returned values up to 17.3 g/t Au. Additional samples returned values of 2.33 and 1.45 g/t Au, respectively. The orpaillage investigated measured over 800 metres along strike and workings extended up to 20 meters wide along the strike length. Company field crews are currently prospecting two newly found orpaillages roughly parallel to the one mentioned above.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold project consists of the 38-sq km Bouboulou claims and the adjacent 250-sq km Rakounga gold concession. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Click here to connect with Nexus Gold (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) to receive an Investor Presentation.

 


5 Top Weekly TSXV Stocks: African Gold Group Gains on LOI

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 0.28 percent on Friday (September 29) to end at 778.27 points.

The TSXV gained slightly as the TSX hit a four-month high, buoyed by gains in the financial group, which includes bank stocks.

Statistics Canada reported on Friday that Canada’s GDP was flat in July, ending eight straight months of gains. The news prompted the Canadian dollar to weaken in value against the US dollar. The lackluster data may mean a rate hike expected by the Bank of Canada next month will not happen.

Against that backdrop, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:

  • African Gold Group (TSXV:AGG)
  • Rathdowney Resources (TSXV:RTH)
  • Novo Resources (TSXV:NVO)
  • Melior Resources (TSXV:MLR)
  • Jayden Resources (TSXV:JDN)

Read on for a brief overview of those companies and what moved their share prices last week.

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African Gold Group

African Gold Group signed a letter of intent (LOI) with Hummingbird Resources (LSE:HUM) last Wednesday (September 27). Under the LOI, Hummingbird can purchase a 19.99-percent stake in African Gold Group for $6.44 million and can acquire half of the company’s Kobada gold project.

The deal will help finance the development of Kobada and will give Hummingbird the right to operate the project. Hummingbird plans to take concentrate from Kobada and process it at its Yanfolila project, which is scheduled to start producing gold in December.

African Gold Group CEO Stephan Theron called the partnership a “win-win for both groups.” The company’s share price rose 55.56 percent to close at $0.07 last week.

Rathdowney Resources

Rathdowney Resources is focused on its Olza project, an advanced zincleadsilver asset in Poland. Its share price rose 42.86 percent to close at $0.20 last week.

The company has not released any news recently, but it is worth noting that zinc prices have doubled since January 2016. Wood Mackenzie analyst Andrew Thomas recently told Reuters that the rally is expected to continue for at least the next 12 months. 

Novo Resources

Novo Resources President and Chairman Dr. Quinton Hennigh presented at the Denver Gold Forum on Monday (September 25). During the talk, Dr. Hennigh discussed the company’s exploration plans for the Karratha region of Western Australia.

The company’s most recent news came on September 21, when it received approval for core drilling at the Purdy’s Reward prospect at its Karratha gold project. The Purdy’s Reward tenement is part of a farm-in and joint venture Novo has with Artemis Resources (ASX:ARV). Last week, Novo saw its share price rise 40.43 percent to close at $6.35.

Melior Resources

Melior Resources’ main asset is the Goondicum ilmenite and apatite mine in Queensland. In February, the company announced it was taking steps to restart production at Goondicum due to improving ilmenite prices. During the summer, the company said that once a decision was made to restart the mine it would take up to six months of pre-commissioning time to finalize site preparations.

The company also owns the intellectual property rights to the Browne metallurgical process, and has a 6-percent stake in nickel-focused Asian Mineral Resources (TSXV:ASN). Melior’s share price rose 37.5 percent over the course of last week to close at $0.06.

Jayden Resources

Jayden Resources’ most recent news came at the beginning of September, when it began a drill program at its Silver Coin project in Northwestern BC. Silver Coin is an advanced-stage gold-silver property located about 25 kilometers north of Stewart in the Golden Triangle district.

The firm said the 2017 program will consist of approximately 6,000 feet of drilling and will focus on extending and upgrading lenses of known high-grade gold mineralization within the Main Breccia zone to the northwest, as well as testing additional targets along strike to the south and potential subparallel zone to the east. Jayden’s share price rose 36.36 percent last week to close at $0.29.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.

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South Africa’s “Unlawful” Proposal to Freeze Mining Rights Hits Gold Stocks

South Africa plans to suspend the granting of applications for prospecting and mining rights pending a court case to review new mining laws, Mineral Resources Minister Mosebenzi Zwane said on Wednesday (July 19).

In response, the Chamber of Mines, which represents the country’s mining industry, said if Zwane doesn’t withdraw the proposed freeze it will seek a court order to suspend and review it.

The proposal is unlawful and would “have an immediate negative impact on investment in the sector,” the lobby group said in a statement released on Thursday (July 20). The country also plans to halt any renewals of prospecting and mining rights.

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Last month, the South African government attempted to introduce new regulations to increase the minimum black ownership percentage for mines to 30 percent from 26 percent previously. The move was meant to ensure that more proceeds from the country’s natural resources flow to the black majority, Zwane said at the time.

But after the announcement, the country’s Chamber of Mines applied for an urgent high court injunction to prevent the implementation of the new rules, which were suspended last week. In return, the chamber agreed to the government’s request for more time to prepare its legal response in the case, moving the court hearing date from July to September.

Zwane now appears to be using the moratorium to circumvent the deal he made with the Chamber of Mines, said Peter Leon, the Africa co-chair at law firm Herbert Smith Freehills.

“It sends a terrible message,” he told Bloomberg on Thursday. “This is freezing all transactions and all applications indefinitely.”

South Africa holds the world’s biggest reserves of platinum, chrome and manganese, but the ongoing uncertainty surrounding policies has deterred investments. Last week, ratings agency Moody’s said the new rules aimed at accelerating black ownership in South Africa’s mining industry could raise costs and diminish cash flow generation.

The recent news hurt the share prices of some of the mining companies operating in the country. Sibanye Gold (JSE:SGL), South Africa’s largest gold producer, lost 1.61 percent on the back of the news. What’s more, the new regulations have put the company’s $2.2-billion acquisition of Stillwater Mining (NYSE:SWC) at risk; if it goes through it would be the biggest foreign takeover by a South African company in more than a decade.

Similarly, AngloGold Ashanti (JSE:ANG), the world’s third-biggest gold producer, saw its share price decrease by 0.91 percent. Diversified top gold producer Gold Fields (NYSE:GFI) remained almost neutral, down by only 0.13 percent.

Other companies were also hit by the news. Mining giant Glencore (LSE:GLEN), which has coal and ferroalloy operations in South Africa, incurred a share price drop of 0.76 percent. Anglo American (LSE:AAL), which mines diamonds, manganese, platinum, iron and coal in the country, saw its share price fall by 2.91 percent.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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African Gold Group (AGG) Acquires Option on the Highly Prospective Madougou Gold Project in Burkina Faso

African Gold Group, Inc. (TSXV:AGG) (“AGG” or the “Company”) is pleased to announce that it has completed the acquisition of all of the issued and outstanding shares of 2515232 Ontario Inc. (“PrivateCo”) (the “Transaction”) which owns an option to acquire the Madougou gold project (the “Madougou Project”). The Transaction was previously announced on April 25, 2017.

Summary of the Madougou Project

Mid-stage exploration project in mining favorable jurisdiction in West Africa
Significant land package of 182km2, located in greenstone belt that hosts several producing gold mines
Significant historical holes drilled, with near surface grades of:
56m @ 1.56g/t Au from 94m in DORC02
6m @ 3.4 g/t Au from 6m in DORC034
11m @ 2.91 g/t Au from 60m in GSRC00, including 1m @ 247 g/t Au from 14m
12m @ 3.4 g/t Au from 34m in GSAC065
10m @ 4.175 g/t Au from 18m in GSAC074
14m @ 4.76 g/t Au from 8m in SO-1066
10m @ 4.2 g/t Au from 37m in DGAC002, including 4m @ 10.7 g/t
10m @ 1.5 g/t Au from 24m in DGAC050
8m @ 20.86 g/t Au from 90m in SO-47
20m @ 2.01 g/t Au from 36m in NBAC023
14m @ 7.72 g/t Au from 40m in NBAC085
15m @ 3.87 g/t Au from 40m in NBAC095

Stephan Theron, Chief Executive Officer of the Company, commented: “The Madougou Project is in a very well understood area of the Birimian Greenstone in northern Burkina Faso, with Endeavour Mining’s Karma Project some 60km away and other operating mines within 100km in several directions. AGG plans to organize the various work programs on Madougou in an effort to establishing a maiden resource on the concession within 12 months, or sooner. In addition, the Company will continue to develop our near term producing and flagship asset in Mali, the Kobada Gold Project, whilst the Madougou Project adds an exciting growth project to our existing gold portfolio.”

The Madougou Project is a mid-stage exploration project, located in the north-western region of Burkina Faso. The project has been extensively explored, with both ground and airborne geophysical surveys conducted, and over 20,000m of RC drilling completed on the 182km2 land package. Madougou is in a mining favourable jurisdiction within West Africa, and is contained in a regional mineralised area of the greenstone belt within Burkina Faso, with several gold producing operations. AGG view the Madougou Project as a highly strategic asset, with tremendous potential to add significant value to the Company.

See Appendix 1.0 for Project / Property Location: http://media3.marketwire.com/docs/agg0621appendix.pdf.

These historical drill results, in addition to the historical geophysical work that has been conducted, will be the platform whereby AGG will be remodelling the existing data sets to identify new drilling targets so as it can formulate a comprehensive drill program for 2017.

Summary of the Transaction

Pursuant to the share purchase agreement dated June 21, 2017 (the “SPA”) between AGG and the shareholders of PrivateCo, AGG acquired all of the issued and outstanding shares of PrivateCo. AGG issued an aggregate of 33,333,333 common shares to the shareholders of PrivateCo as consideration.

PrivateCo is party to an option agreement with TEMFOR s.a.r.l. (“TEMFOR”) providing PrivateCo with the option (the “Option”) to acquire from TEMFOR the Madougou Project.

Pursuant to the option agreement, PrivateCo can exercise the Option as follows:

  • In order to acquire an initial 10% interest in the Madougou Project, PrivateCo must pay USD$80,000 to TEMFOR on or before such date that the exploration permit for the Madougou Project is transferred to a newly incorporated Burkina Faso company (the “First Option”);
  • In order to acquire an additional 41% interest in the Madougou Project, PrivateCo must (i) pay USD$300,000 to TEMFOR, and (ii) complete a National Instrument 43-101 (“NI 43-101”) compliant technical report that contains an inferred mineral resource, within 12 months of the exercise of the First Option (the “Second Option”);
  • In order to acquire an additional 24% interest in the Madougou Project, PrivateCo must (i) pay USD$300,000 to TEMFOR, and (ii) complete a NI 43-101 compliant technical report that contains an indicated mineral resource, within 12 months of the exercise of the Second Option; and
  • In order to acquire the remaining 25% interest in the Madougou Project, PrivateCo must (i) fund any and all expenditures related to the Madougou Project, and (ii) complete a NI 43-101 compliant feasibility study which could reasonably serve as the basis for a final decision by an internationally recognized financial institution to finance the development of a mining project (the “Fourth Option”).

If PrivateCo exercises the Fourth Option and acquires a 100% interest in in the Madougou Project, PrivateCo shall grant to TEMFOR a 1% net smelter returns royalty over production from the Madougou Project.

The Transaction is an arm’s length transaction for AGG. No finder’s fees were paid in connection with the Transaction.

Kobada Gold Project

African Gold Group is currently reviewing the existing feasibility study of the Kobada Gold Project in an effort to optimise the existing Mineral Reserve and Resource estimates, relative to a potential phased approach of a larger Phase 1 production profile.

About African Gold Group

African Gold Group is a Canadian exploration and development company with its focus on West Africa. African Gold Group is focused on the development of the Kobada Gold Project in Mali, a low capital and operating cost gold project with potential to produce more than 50,000 ounces of gold per annum. For more information regarding African Gold Group visit our website at www.africangoldgroup.com.

Qualified Person

The technical and scientific contents of this press release have been prepared under the supervision of and have been reviewed and approved by Cesare Morelli B.Sc. (Pr.Sci.Nat.) who is a Qualified Person as defined by NI 43-101.

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 press release includes certain “Forward-Looking Statements.” All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of African Gold Group; statements regarding the Madougou Project; statements regarding the Company’s ability to exercise the Option; statements regarding the granting of stock options; and statements regarding the ability to develop and achieve production at Kobada are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from African Gold Group’s expectations have been disclosed under the heading “Risk Factors” and elsewhere in African Gold Group’s documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. African Gold Group disclaims any intention or obligation to update or revise any forward looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

African Gold Group, Inc.
Stephan Theron
Chief Executive Officer
+1 (416) 722 6744
stheron@trigonmetals.com

African Gold Group, Inc.
Brett Richards
President and Chief Operating Officer
+1 (905) 449 1500
brett@brettrichards.org
www.africangoldgroup.com

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West Africa Gold: A Look at Ghana, Mali and Burkina Faso

When it comes to gold mining, West Africa has become a hotspot. The region is home to many exploration companies, as well as a slew of major companies focused on extracting the metal.

Ghana, Mali and Burkina Faso are three of West Africa’s most active gold-mining countriesThese nations are all major gold producers, and for investors interested in West Africa gold deposits they are important areas to watch. Read on to learn more about these countries and which gold producing-companies are currently operating within them.

West Africa gold: Ghana

Ghana is one of the top gold-producing countries in Africa. The country supports several large gold-producing companies, as well as a large number of artisanal miners. Artisanal mining is highly sensitive to the gold price, and the government of Ghana is making an effort to eliminate this industry. In 2016, the country produced 95 MT of gold.

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One of the companies producing gold in Ghana is Asanko Gold (TSX:AKG,NYSEMKT:AKG), whose flagship Asanko gold mine reached commercial production on April 1, 2016. In its Q1 2017 report, the company announced record gold production of 58,187 ounces; that was in line with 2017 production guidance of 230,000 to 240,000 ounces.

West Africa-focused Perseus Mining (TSX:PRU,ASX:PRU) holds two gold properties in Ghana. Perseus’ flagship asset is the Edikan gold mine, which has a measured and indicated gold resource of 5 million ounces. Edikan first produced gold in 2011, and by January 2012, the company was in commercial production. Perseus also holds the Grumsea project in Ghana.

Golden Star Resources (TSX:GSC,NYSEMKT:GSS) has been operating in Ghana since 1999. It holds a 90-percent interest the Wassa mine, which has mineral reserves of 1.5 million ounces at an average grade of 2.27 g/t gold. The company also holds the Prestea mine, which has operated for over 100 years and has produced more than 9 million ounces to date.

Endeavor Mining (TSX:EDV) is another gold producer in Ghana, and its Nzema mine is located at the south end of the Ashanti Gold Belt. The mine is 90-percent owned by the company, and 10-percent owned by the government of Ghana. The mine began commercial production in 2011, and based on current reserves will have a life of four more years.

Another large company operating in Ghana is Newmont Mining (NYSE:NEM), which has two gold-producing mines in the country: Ahafo and Akyem. Investors interested in learning more about gold mining in Ghana can click here for additional information.

West Africa gold: Mali

Gold production in Mali came to 49.8 MT in 2016, making the country Africa’s third-largest gold producer after South Africa and Ghana. Like Ghana, it is home to many artisanal miners — at the end of last year, the country’s Chamber of Mines estimated that more than a million artisanal miners were working at about 350 sites, producing between 10 and 15 MT of gold a year.

The largely unregulated sector is plagued by fatal accidents, smuggling, child labor and environmental damage. The government announced plans in 2014 to supervise operations and give miners easier access to financing, but progress has been slow.

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Despite Mali’s widespread artisanal mining practises, it is also home to many large gold-mining companies. Those include IAMGOLD (TSX:IMG,NYSE:IAG), which operates the Sadiola and Yatela gold mines, and AngloGold Ashanti (ASX:AGG), which holds the Morila, Sadiola and Yatela mines. The latter two are joint ventures between AngloGold Ashanti and IAMGOLD; meanwhile, Morila is a joint venture between AngloGold Ashanti, Randgold Resources (LSE:RRS,NASDAQ:GOLD) and the government of Mali.

Apart from the Morila joint venture with AngloGold Ashanti, Randgold Resources also has the Loulo-Gounkoto mine complex, a joint venture with the government of Mali.

West Africa gold: Burkina Faso

Agriculture and mining are the largest and most impactful industries in Burkina Faso. For that reason, the government is focused on making infrastructure improvements — major roads are being paved, while others are being formally created in order to make further development possible.

Endeavour Mining acquired the Karma mine in Burkina Faso in 2016, and announced first gold production in April that year. Karma includes six identified gold deposits, and is a shallow open pit with no blasting required and a low strip ratio; as a result it is a low-cost operation. Commercial production was declared on October 1, 2016, and the mine went on to achieve a run rate of about 115,000 ounces of annual gold production.

IAMGOLD also operates in Burkina Faso. It gained control of its Essakane gold mine after its 2009 acquisition of Orezone Resources, and Essakane began commercial production in July 2010. A revised life-of-mine plan, completed in December 2015, demonstrates a mine life of 8.2 years and average attributable gold production of 368,000 ounces per year.

Another gold producer in Burkina Faso is SEMAFO (TSX:SMF), which operates the Mana mine, the third-largest mine in the country. Mana has produced some 1.6 million ounces since its first gold pour in 2008.

This is an updated version of an article originally published by the Investing News Network in 2014. 

Don’t forget to follow us @INN_Resource for real-time news updates! And please let us know in the comments if we missed a company that is currently mining gold in Ghana, Mali or Burkina Faso. 

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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Nexus Gold Commences Drilling At Bouboulou Gold Concession, Burkina Faso, West Africa

Nexus Gold Corp. (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) is pleased to report that drilling has commenced at its 38-sq km Bouboulou gold concession.  Bouboulou is located approximately 75 kilometres north-west of the capital Ouagadougou, on the Boromo-Goren greenstone belt, and is bisected by the Sabce shear zone.

The 2000 metre phase one diamond drill program at Bouboulou will target previously identified mineralized zones at the property, namely Bouboulou 2, Pelatanga, and Rawema.  In addition, the Company will test the Koala zone, where recent samples ran as high as 66 grams-per-tonne (“g/t”) gold (“Au”), and the newly identified Rawema West zone.

New Zone Identified – Rawema West

As reported in a June 6, 2017 news release, company geologists have now determined the presence of a new mineralized zone at Bouboulou through the observance of increased artisanal activity, and the result of rock sampling taken from the newly observed area.

The new zone, named “Rawema West”, occurs approximately 1000 metres west of the main workings at the previously identified Rawema site.  The Artisanal workings extend some 150 metres in length and appear by observation to extend to depths of greater than 20 metres.

Company geologists collected seven select rock samples of dump material from the Rawema West workings.  Of the seven samples collected there, four returned values greater than 1 g/t Au, including BBL-004 which returned 9.49 g/t Au.

The sampling results greater than 1 g/t Au, from both Rawema West and Koala, as reported June 6, 2017, are tabled below:

 

Sample ID Gold (g/t) Sample type Zone
BBL-004 9.69 Select Rawema West
BBL-005 2.62 Select Rawema West
BBL-006 4.41 Select Rawema West
BBL-007 4.84 Select Rawema West
BBL-012 66.1 Select Koala
BBL-013 29 Select Koala
BBL-014 2.20 Select Koala

The trend of the workings at Rawema West runs roughly parallel to the Pelatanga-Rawema (“PR”) trend that the company intends to test with its upcoming diamond drill program.

Bouboulou Historical Data

In 2011 Roxgold Inc completed reverse circulation (RC) and diamond drilling (DD) programs to test the four previously identified mineralized zones.  Historical reverse circulation (RC) drilling highlights from Bouboulou are tabled below:

Hole ID Azimuth Dip Depth (m) From To Length (m) g/t Au Zone
BBL-11-RC-003 320 -55 103 24 34 10 1.10 Pelatanga
Includes 30 32 2 3.66
BBL-11-RC-005 120 -50 103 60 64 4 1.86 Bouboulou 2
BBL-11-RC-006 120 -67 115 70 110 40 1.54 Bouboulou 2
Includes 70 90 20 2.25
And 100 110 10 1.42
BBL-11-RC-012 300 -50 120 100 108 8 1.21 Rawema
BBL-11-RC-013 300 -50 109 74 109 35 2.20 Rawema
Includes 74 86 12 5.45
BBL-11-RC-020 270 -55 103 40 50 10 2.84 Koala
Includes 42 44 2 12.45
BBL-11-RC-021 240 -55 130 6 8 2 3.94 Koala
BBL-11-RC-022 270 -60 133 44 48 4 1.63 Koala
BBL-11-RC-024 320 -55 193 38 44 6 1.95 Pelatanga
BBL-11-RC-027 120 -45 120 90 114 24 1.36 Bouboulou 2
BBL-11-RC-028 120 -60 162 130 132 2 2.53 Bouboulou 2
BBL-11-RC-031 120 -45 144 78 94 16 1.18 Bouboulou 2
BBL-11-RC-036 120 -50 120 8 10 2 1.42 Rawema
BBL-11-RC-038 130 -55 144 114 116 2 1.53 Koala
BBL-11-RC-039 120 -50 150 116 130 14 1.37 Koala
BBL-11-RC-041 130 -50 138 52 54 2 2.04 Koala
BBL-11-RC-042 320 -55 114 40 46 6 1.26 Pelatanga
Includes 52 54 2 3.80 Pelatanga

Historical diamond drilling (DD) highlights from Bouboulou are tabled below:

Hole ID Azimuth Dip Depth (m) From To Length (m) g/t Au Zone
BBL-11-DD-002 315 -45 127 42 44 2 5.43 Rawema
BBL-11-DD-003 135 -45 142 56 58 2 5.33 Bouboulou 2
78 82 4 12.53
96 98 2 1.59
BBL-11-DD-005 300 -50 179 74 80 6 4.62 Rawema
Includes 77.7 78 0.3 81.32
BBL-11-DD-006 120 -50 127 91.5 93 1.5 1.74 Bouboulou 2
BBL-11-DD-008 320 -45 198 125 127 2 2.55 Koala

* Note all assay results represent intercept lengths and are not true widths

Bouboulou Trends

The Company has subsequently identified three distinct 5000m (5km) long anomalous gold trends at the Bouboulou concession.  Each of the three trends display strong coincidental geochemical and geophysical gold anomalies, and extend from the four previously drill-identified mineralized zones, namely Rawema, Pelatanga, Bouboulou 2 and Koala.

They are identified by numerous orpaillages and geochemical samples of greater than 1 g/t Au.  All three of the Bouboulou trends display similar coincidental anomalies.  Each trend has substantial artisanal workings either directly on them, or along trend.

A map of the three trends can be seen here:

http://www.nexusgoldcorp.com/images/NexusGold_Boub1.jpg

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa.  The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone.

For more information on these projects, please visit the Company website at www.nexusgoldcorp.com

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

Click here to connect with Nexus Gold (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) to receive an Investor Presentation.


Nexus Gold Mobilizes Crew & Drill Rig to Bouboulou Gold Concession, Burkina Faso, West Africa

Nexus Gold Corp. (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) is pleased to report, in anticipation of it’s upcoming drill program, that it has mobilized both crew and equipment to the Bouboulou gold concession, located approximately 75 kilometres north-west of the capital Ouagadougou.  The 38-sq kilometre property sits on the Boromo-Goren greenstone belt, and is bisected by the Sabce shear zone.  

The phase one diamond drill program at Bouboulou will include 2000 metres targeting known previously identified mineralized zones.  The Company also plans to test new areas of interest at the Koala zone, where recent samples ran as high as 66 grams-per-tonne (“g/t”) gold (“Au”), and the newly identified Rawema West zone.

New Zone Identified – Rawema West

As reported in a June 6, 2017 news release, company geologists have now determined the presence of a new mineralized zone at Bouboulou through the observance of increased artisanal activity, and the result of rock sampling taken from the newly observed area.  

The new zone, termed “Rawema West”, occurs approximately 1000 metres west of the main workings at the previously identified Rawema site.  The Artisanal workings extend some 150 metres in length and appear by observation to extend to depths of greater than 20 metres.  This fifth zone adds to the four previously identified zones (Rawema, Bouboulou 2, Pelatanga and Koala) at the concession.

Company geologists collected seven select rock samples of dump material from the Rawema West workings.  Of the seven samples collected there, four returned values greater than 1 g/t Au, including BBL-004 which returned 9.49 g/t Au.  

The sampling results from both Rawema West and Koala, as reported June 6, 2017, are tabled below:

Table 1

Sample ID Gold (g/t) Sample type Zone
BBL-001 0.058 Select Rawema West
BBL-002 0.065 Select Rawema West
BBL-003 0.134 Select Rawema West
BBL-004 9.69 Select Rawema West
BBL-005 2.62 Select Rawema West
BBL-006 4.41 Select Rawema West
BBL-007 4.84 Select Rawema West
BBL-008 0.061 Select Koala
BBL-009 0.093 Select Koala
BBL-010 0.472 Select Koala
BBL-011 0.361 Select Koala
BBL-012 66.1 Select Koala
BBL-013 29 Select Koala
BBL-014 2.20 Select Koala

 

The trend of the workings at Rawema West run roughly parallel to the Pelatanga-Rawema (“PR”) trend that the company intends to test with its upcoming diamond drill program.

Bouboulou Historical Data

In 2011 and 2012 Roxgold Inc completed reverse circulation (RC) and diamond drilling (DD) programs to test the previously identified mineralized zones.  Historical drilling highlights from Bouboulou can be found on the Company website here:

http://www.nexusgoldcorp.com/index.php/en/projects-3/bouboulou-gold-concession

The Company has subsequently identified three distinct 5000m (5km) long anomalous gold trends at the Bouboulou concession.  Each of the three trends display strong coincidental geochemical and geophysical gold anomalies, and extend from the four previously drill-identified mineralized zones, namely Rawema, Pelgtanga, Bouboulou 2 and Koala.  They are identified by numerous orpaillages and geochemical samples of greater than 1 g/t Au.  All three of the Bouboulou trends display similar coincidental anomalies.  Each trend has substantial artisanal workings either directly on them, or along trend.

A map of the three trends can be seen here:

http://www.nexusgoldcorp.com/images/NexusGold_Boub1.jpg

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa.  The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone.  For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

 

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Click here to connect with Nexus Gold (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) to receive an Investor Presentation.


East Africa Metals Receives Approval of Mine Permit Application for Terakimti Oxide Gold Project

East Africa Metals Inc.(TSXV: EAM) (“East Africa Metals” or the “Company”) is pleased to announce it has been informed the Ministry of Mines, Petroleum and Natural Gas (the “Ministry”) has completed its review of the Company’s Mine Permit Application and has issued a draft Model Agreement for the Company’s Terakimti Oxide Gold Project located in the Tigray National Regional State of the Federal Democratic Republic of Ethiopia.

As quoted in the press release:

“This is an important milestone for East Africa Metals and the Ethiopian resources sector,” said Andrew Lee Smith, East Africa Metals CEO. “We anticipate the Terakimti Oxide Gold Project will be the first heap leach operation in the country and will be an important basis for the future development of the highly prospective copper-gold VMS systems in the Tigray region.”

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Five Additional Quartz Vein-Shear Zones Identified at Niangouela Gold Concession, Burkina Faso, West Africa

Nexus Gold (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) is pleased to provide an update on the Company’s ongoing exploration activity in Burkina Faso, West Africa.

Additional Zones and Targets Identified at Niangouela

Company geologists are pleased to report that in addition to the main quartz vein-shear system tested to date, an additional five zones of veining and shearing have now been identified at the Niangouela gold concession.

These additional structures were originally observed in artisanal workings and are currently being tested by trenching and drilling. Initial sampling of the dumps from two of the new zones have returned values of 2.25 grams per tonne (“g/t”) gold (“Au”), and 1.88 and 1.86 g/t Au, respectively.

The zones occur over approximately 2000 metres (2km) in an east-west direction and are spread over 500 metres in a north-south direction. These additional targets are located approximately 200 metres north and 1000 metres east of the main zone which has been the focus of the drilling to date. The company has been testing these zones over its phase two program and anticipates continued testing of these new zones in further phases.

An area map designed to illustrate the identified zones now known at Niangouela is currently being created and will be made available on the company website when completed.

Niangouela Gold Concession Update

The Company anticipates concluding its phase two diamond drill program at the 178-square kilometre Niangouela exploration permit located approximately 85 kilometres north of Ouagadougou, Burkina Faso, in early May. A 2000m phase two program has been underway since early April to test down the dip and strike extensions of gold mineralization identified by the company in its initial phase one program. The program is also testing additional targets identified through surface mapping and prospecting. Results from this program will be released once received, reviewed and verified.

Highlights from the first nine phase-one drill holes at Niangouela, as reported in Company news releases March 7, 2017, and April 5, 2017, include 6.2m of 4.00 g/t Au (including 1m of 20.50 g/t Au); 4.85m of 26.69 g/t Au (including .62m of 11.70 g/t Au, and 1.03m of 132 g/t Au); and 4m of 2.95 g/t Au (including 1m of 5 g/t Au) and 1m of 5.92 g/t Au*. Phase one drill results to date can be found on the company website here:

http://www.nexusgoldcorp.com/index.php/en/projects-3/niangouela-gold-concession

* Note assay results represent intercept lengths and are not true widths

Bouboulou Gold Concession

The Company is pleased to announce plans to undertake a previously announced diamond drill program at its 38.8-sq km Bouboulou gold concession, in June. Bouboulou is located approximately 75 kilometres north-west of the capital Ouagadougou, on the Boromo-Goren greenstone belt, and is bisected by the Sabce shear zone.

“With the onset of the rainy season the Company’s technical team has recommended we move operations to the Bouboulou concession during this time,” said President and CEO, Peter Berdusco. “The heavy rainfall is less problematic from an operational standpoint at Bouboulou and this gives us an opportunity to continue our drilling in Burkina Faso, and in particular, on one of the three major gold-mineralized trends we’ve identified on the property,” continued Mr. Berdusco.

Four zones of gold mineralization have been previously identified on the property, termed Koala, Rawema, Bouboulou 2 and Pelgtanga. In 2011 and 2012 Roxgold Inc completed reverse circulation (RC) and diamond drilling (DD) pograms to test these four mineralized zones.

Historical drilling highlights from each of the four zones can be found on the Company website here:

http://www.nexusgoldcorp.com/index.php/en/projects-3/bouboulou-gold-concession

The Company has subsequently identified three distinct 5000m (5km) long anomalous gold trends at the Bouboulou concession. Each of the three trends display strong coincidental geochemical and geophysical gold anomalies, and extend from the four drill-identified mineralized zones, namely Rawema, Pelgtanga, Bouboulou 2 and Koala. They are identified by numerous orpaillages and geochemical samples of greater than 1 g/t Au. All three of the Bouboulou trends identified are defined by similar coincidental anomalies. Each trend has substantial artisanal workings either directly on them, or along the trend.

A map of the three trends can be seen here: http://www.nexusgoldcorp.com/images/NexusGold_Boub1.jpg

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Click here to connect with Nexus Gold (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) to receive an Investor Presentation.


Nexus Gold Receives New Permit For Bouboulou Gold Concession, Burkina Faso, West Africa

Nexus Gold Corp. (“Nexus” or the “Company”)(TSXV:NXS,OTC:NXXGF,Frankfurt:N6E)is pleased to announce that it has received a new work permit for its Bouboulou Gold concession located in Burkina Faso, West Africa. The new permit is for an initial term of three years, and can be renewed twice for a total term of nine years.

“The new permit puts Nexus in a favourable position with respect to our developmental timeline at Bouboulou and Burkina Faso in general. With numerous complex mineralized zones, this ensures that the property can be effectively explored, developed and advanced in all areas,” said President and CEO, Peter Berdusco. “The new permit now gives us the opportunity to timeline the development of the Bouboulou project to its full potential. In combination with our Niangouela project, this is an important advancement for the company and brings us a step closer to becoming a significant exploration and development company in West Africa,” continued Mr. Berdusco.

About the Bouboulou Gold Concession

The Bouboulou exploration permit covers an area of 38.8 -sq km approximately 75 kilometres north-west of the capital Ouagadougou and is accessible by paved road. The Bouboulou permit is located on the Boromo-Goren greenstone belt and is bisected by the Sabce shear zone.

This regional north-east trending structure hosts numerous artisanal workings along its 120- kilometre length and hosts the Bissa Hills deposit presently being mined by Norgold. Three 5km anomalous gold trends exist on the property along with numerous artisanal zones (orpaillages).

Gold mineralization was first identified at Bouboulou by Boliden in 1997 where a regional Rotary Air Blast (RAB) drilling program outlined a broad north-east trending gold anomaly measuring 13km by 2km over what is now the Bouboulou permit. The concession was then explored by Riverstone Resources and Roxgold Inc.

Highlights of these surface exploration programs include surface rock sampling and trenching that returned gold grades from 1.09 to 19.16 g/t. Four zones of gold mineralization have been identified on the property, termed Koala, Rawema, Bouboulou 2 and Pelgtanga. Roxgold later completed reverse circulation (RC) and diamond drilling (DD) to test the four mineralized zones.

Historical drilling highlights from each of the four zones:

table-nexus

* The above reported data are drill intercept lengths and not true widths

Bouboulou Trend Analysis

The Company has compiled historical data including airborne geophysics, Rotary Air Blast (RAB) drilling, geochemical sampling, reverse circulation drilling, diamond drilling and the location of orpaillages (zones of artisanal gold mining). The compiled data reviewed consists of over 7000 assays collected between 2011 and 2012.

This data displays three strong coincidental geochemical and geophysical anomalous gold trends. These trends extend from the four drill-identified mineralized zones, namely Rawema, Pelgtanga, Bouboulou 2 and Koala. Each of the three trends extends in length for 5000 meters (5KM). They are identified by numerous orpaillages and geochemical samples of greater than 1 gram per tonne gold.

All three of the Bouboulou trends identified are defined by similar coincidental anomalies. Each trend has substantial artisanal workings either directly on them or along the trend.

Map of the Bouboulou trends can be found here:

http://www.nexusgoldcorp.com/index.php/en/projects-3/bouboulou-gold-concession

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Click here to connect with Nexus Gold (TSXV:NXS) to receive an Investor Presentation.


East Africa Metals Intersects 20 Meters Grading 4.7 g/t Gold and 4.7 g/t Silver at Da Tambuk

East Africa Metals Inc. (TSX VENTURE: EAM) (“East Africa” or the “Company”) is pleased to announce newly received results from on-going diamond drilling at the Adyabo Project in Ethiopia. Four holes have been completed at Da Tambuk, as part of a detailed infill program in the central area of the resource, and results for a total of eleven holes have been received from the Mato Bula south 40m x40m infill drill program.

  • At Da Tambuk – 20.00 metres grading 4.70 grams per tonne gold, and 4.7 grams per tonne silver, from 105.00 metres drill depth (ADD025);
  • At Da Tambuk – 8.61 metres grading 7.38 grams per tonne gold, and 23.1 grams per tonne silver, from 101.39 metres drill depth (ADD026);
  • At Mato Bula – 5.72 metres grading 6.06 grams per tonne gold, from 50.78 metres drill depth (WMD066), and;
  • At Mato Bula – 23.00 metres grading 1.27 grams per tonne gold, 0.51% copper, 6.1 grams per tonne silver, and 0.60% zinc, including 4.00 metres grading 4.54 grams per tonne gold, 0.70% copper, 6.5 grams per tonne silver, and 0.09% zinc, from 185.30 metres drill depth (WMD069).

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Nexus Gold Phase 2 Drilling Underway at Niangouela, Burkina Faso, West Africa

Nexus Gold Corp. (TSX-V: NXS, OTC: NXXGF, FSE: N6E) announced the completion of its phase one diamond drill program at the 178-square kilometer Niangouela exploration permit located approximately 85 kilometers north of Ouagadougou, Burkina Faso.

A 2000m phase two program is now underway to test down the dip and strike extensions of gold mineralization identified by the company in its phase one program.  The program will also test additional targets identified through surface mapping and prospecting.  Results will be released once received, reviewed and verified.

The first phase diamond drill program was designed to test ground defined by anomalous rock samples collected from underground artisanal workings and anomalous Rotary Air Blast (RAB) drilling completed by the Company in December 2016.  This initial program successfully intersected gold mineralization in eight of the first nine holes drilled on the concession.  The mineralization was contained in a silicified shear zone occurring in the host granite. Quartz veining is associated with the shear zone.

Additional Analysis of First Assay Results

The initial assays from the first nine diamond drill holes at Niangouela, as announced in the Company’s March 7, 2017, news release, have undergone additional analysis.  The Company applied metallic screen analysis and bulk leach extractable gold (BLEG) analysis, in addition to gravimetric fire analysis.

This additional analysis has resulted in the change in values of several intercepts originally released on March 7, including hole NGL-17-DD-008 which saw an increase from 8.50 g/t gold over .62 metre, to 11.7 g/t gold over .62 metre, and from 120 g/t gold over 1 metre, to 132 g/t gold over 1 metre.  In addition, hole NGL-17-DD-009 increased from 2.61 g/t gold over 4 metres to 2.95 g/t gold over 4 metres.  This hole also gained an additional 1 metre of 5.00 g/t gold.

“The presence of free gold and the results of the BLEG and metallic screen analysis has demonstrated the need for ensuring that the maximum amount of material is being analyzed,” said Senior Geologist Warren Robb. “The company will be employing the appropriate method to gain the most representative gold value as is possible.” Continued Mr. Robb.

The updated assay results from the phase one program to date are tabled below:

Hole ID Azimuth Dip FROM (m) TO (m) INTERCEPT (metres) Au gram/tonne
NGL-17-DD-001 10 -50 76.00 87.00 11.00 0.37¹
includes 83.00 84.00 1.00 1.21
NGL-17-DD-002 190 -60 84.50 85.50 2.00 1.05
104.50 105.50 1.00 1.32
NGL-17-DD-003 185 -50 86.40 91.50 5.10 1.80
includes 86.40 87.50 1.10 6.14
NGL-17-DD-004 185 -60 121.00 124.00 3.00 0.96¹
includes 122.00 123.00 1.00 1.47³
NGL-17-DD-005 185 -70 No significant results
NGL-17-DD-006 180 -50 65.00 71.20 6.20 4.00
includes 70.20 71.20 1.00 20.50¹
NGL-17-DD-007 180 -60 102.00 109.20 7.20 1.01
includes 104.00 105.00 1.00 2.34
and 106.20 107.20 1.00 1.92
NGL-17-DD-008 180 -50 57.00 61.85 4.85 26.69
includes 58.35 58.97 0.62 11.7¹
and 58.97 60.00 1.03 132.00¹
NGL-17-DD-009 180 -60 74.50 78.50 4.00 2.95¹
includes 74.50 75.50 1.00 5.00¹
and 76.50 77.50 1.00 5.92¹

1 Denotes metallic screen analysis 
2 Denotes gravimetric fire assay analysis 
3 Denotes bulk leach extractable gold analysis
* Note all assay results represent intercept lengths and are not true widths

The sampled core was delivered to the independent Actlabs laboratory in Ouagadougou where the samples underwent analysis by fire assay with an atomic absorption finish. If samples returned values greater than 10 ppm gold the sample was re-analysed by gravimetric fire assay. Samples with identified visible gold were analysed using a fire assay metallic screen analysis. The Company employs a QA/QC program of inserting standards, blanks and duplicates into the samples stream as a supplement to the internal checks employed by Actlabs.

The drill program tested the shear zone for over 200 metres along strike and intercepted the zone to depths of 105 metres below surface.  The shear zone remains opens along strike and to depth.

About the Niangouela Gold Concession
The 178 sq km Niangouela gold concession is located on the Boromo Greenstone Belt and is proximal to the Kalsaka deposit and the Sabce Shear Zone. It is accessible by road and has one major orpaillage (artisanal workings).
In December 2016 the Company conducted an 802m rotary air blast (RAB) drill program that delineated an approximately 1,000-metre (1km) quartz vein and a 500-metre secondary strike, running oblique to the main vein. This vein has now been identified in trenches, artisanal workings and through RAB drilling.  It remains open in all directions.

A total of 11 rock chip and grab samples were taken during the initial exploration phase.  Sample NG005, taken directly from the primary quartz vein at 46m depth returned a value of 2,950 g/t gold. Sample NG007 contained coarse visible gold, and was taken from material extracted from a depth of approximately 60m, returned a value of 403 g/t gold.  Sample NG008, a single large piece of primary quartz vein containing host rock inclusions and a cluster of visible, returned a value of 49.8 g/t gold.

The company then followed up with the first ever diamond drill program at the concession.  Eight of the first nine drill holes successfully intercepted gold, with highlights including 26.69 g/t gold over 4.85m (including 1m of 132 g/t gold), and 4.00 g/t gold over 6.2m (including 1m of 20 g/t gold).  All mineralization in these first nine holes was present at depths of 57m to 124m below surface.

About Burkina Faso
Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company
Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa.  The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone.
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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Click here to connect with Nexus Gold (TSXV:NXS,OTC:NXXGF,Frankfurt:N6E) to receive an Investor Presentation.


Nexus Gold Begins Phase Two Drilling At Niangouela Gold Concession, Burkina Faso, West Africa

Nexus Gold Corp. (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce the completion of its phase one diamond drill program at the 178-square kilometer Niangouela exploration permit located approximately 85 kilometers north of Ouagadougou, Burkina Faso. A 2000m phase two program is now underway to test down the dip and strike extensions of gold mineralization identified by the company in its phase one program. The program will also test additional targets identified through surface mapping and prospecting. Results will be released once received, reviewed and verified.

The first phase diamond drill program was designed to test ground defined by anomalous rock samples collected from underground artisanal workings and anomalous Rotary Air Blast (RAB) drilling completed by the Company in December 2016. This initial program successfully intersected gold mineralization in eight of the first nine holes drilled on the concession. The mineralization was contained in a silicified shear zone occurring in the host granite. Quartz veining is associated with the shear zone.

Additional Analysis of First Assay Results

The initial assays from the first nine diamond drill holes at Niangouela, as announced in the Company’s March 7, 2017, news release, have undergone additional analysis. The Company applied metallic screen analysis and bulk leach extractable gold (BLEG) analysis, in addition to gravimetric fire analysis.

This additional analysis has resulted in the change in values of several intercepts originally released on March 7, including hole NGL-17-DD-008 which saw an increase from 8.50 g/t gold over .62 metre, to 11.7 g/t gold over .62 metre, and from 120 g/t gold over 1 metre, to 132 g/t gold over 1 metre. In addition, hole NGL-17-DD-009 increased from 2.61 g/t gold over 4 metres to 2.95 g/t gold over 4 metres. This hole also gained an additional 1 metre of 5.00 g/t gold.

“The presence of free gold and the results of the BLEG and metallic screen analysis has demonstrated the need for ensuring that the maximum amount of material is being analyzed,” said Senior Geologist Warren Robb. “The company will be employing the appropriate method to gain the most representative gold value as is possible.” Continued Mr. Robb.

The updated assay results from the phase one program to date are tabled below:

Hole ID Azimuth Dip FROM (m) TO (m) INTERCEPT (metres) Au gram/tonne
NGL-17-DD-001 10 -50 76.00 87.00 11.00 0.371
includes 83.00 84.00 1.00 1.21
NGL-17-DD-002 190 -60 84.50 85.50 2.00 1.05
104.50 105.50 1.00 1.32
NGL-17-DD-003 185 -50 86.40 91.50 5.10 1.80
includes 86.40 87.50 1.10 6.14
NGL-17-DD-004 185 -60 121.00 124.00 3.00 0.961
includes 122.00 123.00 1.00 1.473
NGL-17-DD-005 185 -70 No significant results
NGL-17-DD-006 180 -50 65.00 71.20 6.20 4.00
includes 70.20 71.20 1.00 20.501
NGL-17-DD-007 180 -60 102.00 109.20 7.20 1.01
includes 104.00 105.00 1.00 2.34
and 106.20 107.20 1.00 1.92
NGL-17-DD-008 180 -50 57.00 61.85 4.85 26.69
includes 58.35 58.97 0.62 11.71
and 58.97 60.00 1.03 132.001
NGL-17-DD-009 180 -60 74.50 78.50 4.00 2.951
includes 74.50 75.50 1.00 5.001
and 76.50 77.50 1.00 5.921

1 Denotes metallic screen analysis

2 Denotes gravimetric fire assay analysis

3 Denotes bulk leach extractable gold analysis

* Note all assay results represent intercept lengths and are not true widths

The sampled core was delivered to the independent Actlabs laboratory in Ouagadougou where the samples underwent analysis by fire assay with an atomic absorption finish. If samples returned values greater than 10 ppm gold the sample was re-analysed by gravimetric fire assay. Samples with identified visible gold were analysed using a fire assay metallic screen analysis. The Company employs a QA/QC program of inserting standards, blanks and duplicates into the samples stream as a supplement to the internal checks employed by Actlabs.

The drill program tested the shear zone for over 200 metres along strike and intercepted the zone to depths of 105 metres below surface. The shear zone remains opens along strike and to depth.

About the Niangouela Gold Concession

The 178 sq km Niangouela gold concession is located on the Boromo Greenstone Belt and is proximal to the Kalsaka deposit and the Sabce Shear Zone. It is accessible by road and has one major orpaillage (artisanal workings).

In December 2016 the Company conducted an 802m rotary air blast (RAB) drill program that delineated an approximately 1,000-metre (1km) quartz vein and a 500-metre secondary strike, running oblique to the main vein. This vein has now been identified in trenches, artisanal workings and through RAB drilling. It remains open in all directions.

A total of 11 rock chip and grab samples were taken during the initial exploration phase. Sample NG005, taken directly from the primary quartz vein at 46m depth returned a value of 2,950 g/t gold. Sample NG007 contained coarse visible gold, and was taken from material extracted from a depth of approximately 60m, returned a value of 403 g/t gold. Sample NG008, a single large piece of primary quartz vein containing host rock inclusions and a cluster of visible, returned a value of 49.8 g/t gold.

The company then followed up with the first ever diamond drill program at the concession. Eight of the first nine drill holes successfully intercepted gold, with highlights including 26.69 g/t gold over 4.85m (including 1m of 132 g/t gold), and 4.00 g/t gold over 6.2m (including 1m of 20 g/t gold). All mineralization in these first nine holes was present at depths of 57m to 124m below surface.

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

 

Click here to connect with Nexus Gold (TSXV:NXS) to receive an Investor Presentation.


Nexus Gold To Increase Diamond Drilling at Niangouela Gold Concession, Burkina Faso, West Africa

Vancouver, Canada / TheNewswire / March 16, 2017 – Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) is pleased to announce it will increase its diamond drilling program at the 178-square kilometre Niangouela exploration permit located approximately 85 kilometers north of Ouagadougou, Burkina Faso, West Africa.

The Company recently completed 1470 metres of the scheduled 2000 metre phase one program (see Company news release dated March 7, 2017) and will be completing the initial phase and releasing assays from the remaining holes in the coming weeks. The Company will immediately thereafter commence a phase two diamond drill program on the property that will target additional areas of interest along strike. In addition, the program will test a newly identified zone of artisanal workings occurring along strike of the shear zone another 800 metres to the east of the current drill area.

“As has been stated, we are extremely encouraged with the initial results at Niangouela. Once this first program is complete we will immediately initiate the next phase,” said President and CEO, Peter Berdusco. “This second phase will continue to effectively define the shear zone structure and the quartz vein within it. We will also investigate any potential higher grade shoots and preferred mineralization trends occurring along strike,” continued Mr. Berdusco.

The first phase diamond drill program was designed to test anomalous rock samples collected from underground artisanal workings and anomalous Rotary Air Blast (RAB) drilling completed by the Company in December 2016. This initial program successfully intersected gold mineralization in eight of the first nine holes drilled on the concession. The mineralization was contained in a silicified shear zone occurring in the host granite, associated with the shear was primary quartz veins.

Significant gold mineralization was encountered in four of the eight holes reporting gold intercepts. NGL-17-DD-008 returned 26.69 grams per tonne (“g/t”) gold over 4.85 metres (including 8.50 g/t gold over 0.62 metre, and 120.00 g/t gold over 1.03 metres). Hole NGL-17-DD-006 returned 4.00 g/t gold over 6.20 metres (including 20.50 g/t gold over 1.00 metre).

The assay results from the first nine holes of the phase one program are tabled below:

Hole ID Azimuth Dip FROM (m) TO (m) INTERCEPT (metres) Au gram/tonne
NGL-17-DD-001 10 -50 76.00 87.00 11.00 0.32
INCLUDES 83.00 84.00 1.00 1.21
NGL-17-DD-002 190 -60 84.50 85.50 2.00 1.05
104.50 105.50 1.00 1.32
NGL-17-DD-003 185 -50 86.40 91.50 5.10 1.80
INCLUDES 86.40 87.50 1.10 6.14
NGL-17-DD-004 185 -60 121.00 124.00 3.00 0.75
INCLUDES 122.00 123.00 1.00 1.23
NGL-17-DD-005 185 -70 NO SIGNIFICANT RESULTS
NGL-17-DD-006 180 -50 65.00 71.20 6.20 4.00
INCLUDES 70.20 71.20 1.00 20.50?
NGL-17-DD-007 180 -60 102.00 109.20 7.20 1.01
INCLUDES 104.00 105.00 1.00 2.34
AND 106.20 107.20 1.00 1.92
NGL-17-DD-008 180 -50 57.00 61.85 4.85 26.69
INCLUDES 58.35 58.97 0.62 8.50
AND 58.97 60.00 1.03 120.00?
NGL-17-DD-009 180 -60 74.50 78.50 4.00 2.61
INCLUDES 76.50 77.50 1.00 5.92?

? Denotes metallic screen analysis

? Denotes gravimetric fire assay analysis

Note all assay results represent intercept lengths and are not true widths

The phase one diamond drill program tested the shear zone for over 200 metres along strike and intercepted the zone to depths of 105 metres below surface. The shear zone remains opens along strike and to depth.

About the Niangouela Gold Concession

The 178 sq km Niangouela gold concession is located on the Boromo Greenstone Belt (as is the Company’s Bouboulou Gold Concession), and is proximal to the Kalsaka deposit and the Sabce Shear Zone. It is accessible by road and has one major orpaillage (artisanal workings).

In December 2016 the Company conducted an 802m rotary air blast (RAB) drill program that delineated an approximately 1,000-metre (1km) quartz vein and a 500-metre secondary strike, running oblique to the main vein. This vein has now been identified in trenches, artisanal workings and through RAB drilling. It remains open in all directions.

A total of 11 rock chip and grab samples were taken during the initial exploration phase. Eight of the 11 samples returned values of 1 gram-per-tonne (“g/t”) gold or better. Best results of the 11 include sample NG005, taken directly from the primary quartz vein at 46m depth (accessed via an artisanal mining shaft), which returned a value of 2,950 g/t gold. Sample NG006 was collected from the artisanal dumps of the sheared intrusive and returned a value of 23.9 g/t gold. Sample NG007 contained coarse visible gold, and was taken from material extracted from the eastern shaft from a depth of approximately 60m, returned values of 403 g/t gold. Sample NG008 was taken from the western shaft, 10 to 12 metres west of the eastern shaft, and consisted of a single large piece of primary quartz vein containing host rock inclusions and a cluster of visible gold. NG008 returned values of 49.8 g/t gold.

Read the full company profile.

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Connect with Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) to receive an Investor Presentation.


Stellar AfricaGold Sells Eastmain River Claims and Completes Balandougou Acquisition

Stellar AfricaGold (TSXV:SPX) has announced that it has agreed to sell its Eastmain River claims in Quebec to Amex Exploration for 350,000 shares and a 1.5 net smelter return royalty of which 50 percent may be bought back for $750,000.

As quoted in the press release:

BALANDOUGOU ACQUISITION CLOSED

The Company has issued 750,000 shares completing the acquisition of UltraGold Holding LLC’s (“UltraGold) 49% interest in the Balandougou Gold Project properties. The shares are subject to a four-month hold period expiring July 14, 2017. (see news release January 25, 2017)

COMMENTARY

“Stellar’s primary focus is and will continue to be its now wholly-owned Balandougou gold project in Guinea where the 15,000 tonne bulk sample program (news release March 1, 2017) is proceeding on time and on budget” said Stellar president John Cumming. “The two Eastmain River claims blocks, the 1,950 hectares 37 claim Eastmain South and the 840 hectares Eastmain North, are a non-core asset that competes for available exploration funds with our core project, Baladougou. The conversion of the Eastmain River claims into marketable securities will strengthen Stellar’s balance sheet. Finally, Stellar retains a royalty and will participate in any ultimate exploration success at Eastmain.”

Click here to read the full press release.

Gold Outlook Report - Late 2017!

Get your FREE Updated Gold Outlook Report. Includes expert commentary, production numbers and gold stocks to keep an eye on.

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Nexus Gold Updates Phase One Drilling at Niangouela Gold Concession, Burkina Faso, West Africa

Vancouver, Canada / TheNewswire / March 02, 2017 – Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) is pleased to report that it has completed 1470 metres of its phase one drill program on the Niangouela permit in Burkina Faso.

A total of 14 holes were drilled totaling 1470.5 metres. Of the 14 holes drilled, 13 successfully intersected the targeted shear zone. One hole had to be abandoned due to ground conditions. Of the 13 holes, three holes reported intersections hosting visible gold. Drill holes NIA-17-DD-003, 006, and 009, reported visible gold occurring as small points, or clusters of points, with the gold present in contorted quartz veins occurring within the shear. The company has forwarded all samples for assay to ACTLAB’s laboratory in Ouagadougou. The company will report all assay data once it has been received, reviewed and verified.

The Company originally scheduled a 1000 metre phase one diamond drill program on its 178 square kilometre Niangouela exploration permit. The increased 1000 metres of diamond drilling announced in the Company’s February 23, 2017, news release, is designed to further test the primary quartz vein and associated shear zone at depth and along strike. The current program is targeting areas of gold anomalies identified from rock samples and Rotary Air Blast (RAB) drilling that was conducted by the Company in December 2016 and January 2017. The Company plans on completing the phase one diamond drill program later this month.

Board Appointment

The Company is pleased to welcome Rodney Stevens as an Independent Director. Mr. Stevens is a CFA charter holder with over ten years’ experience in the capital markets, first as an Investment Analyst with Salman Partners Inc., then as a merchant and investment banker. While at Salman Partners, Mr. Stevens became a top-rated analyst by StarMine on July 17, 2007 for the metals and mining industry. Over the course of his career, Mr. Stevens has been instrumental in assisting in financing’s and M&A activity worth over $1 billion in transaction value.

Mr. Stevens replaces Dean Humphreys, who resigned to pursue other ventures. The Company would like to thank Mr. Humphreys for his years of service and wish him well in his future endeavours.

About the Niangouela Gold Concession

The 178 sq km Niangouela gold concession is located on the Boromo Greenstone Belt (as is the Company’s Bouboulou Gold Concession), and is proximal to the Kalsaka deposit and the Sabce Shear Zone. It is accessible by road and has one major orpaillage (artisanal workings).

In December 2016 the Company conducted an 802m rotary air blast (RAB) drill program that delineated an approximately 1,000-metre (1km) quartz vein and a 500-metre secondary strike, running oblique to the main vein. This vein has now been identified in trenches, artisanal workings and through RAB drilling. It remains open in all directions.

A total of 11 rock chip and grab samples were taken during the initial exploration phase. Eight of the 11 samples returned values of 1 gram-per-tonne (“g/t”) gold or better. Best results of the 11 include sample NG005, taken directly from the primary quartz vein at 46m depth (accessed via an artisanal mining shaft), which returned a value of 2,950 g/t gold. Sample NG006 was collected from the artisanal dumps of the sheared intrusive and returned a value of 23.9 g/t gold. Sample NG007 contained coarse visible gold, and was taken from material extracted from the eastern shaft from a depth of approximately 60m, returned values of 403 g/t gold. Sample NG008 was taken from the western shaft, 10 to 12 metres west of the eastern shaft, and consisted of a single large piece of primary quartz vein containing host rock inclusions and a cluster of visible gold. NG008 returned values of 49.8 g/t gold.

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso. Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

Read the full company profile.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length and associated shear zone. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Connect with Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) to receive an Investor Presentation.


Nexus Gold Samples 403 g/t Gold From Quartz Vein at Niangouela Gold Concession, Burkina Faso, West Africa

Vancouver, Canada / TheNewswire / January 24,2017 – Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) is pleased to report that it has received gold assays from five further samples taken from its Niangouela gold project located in Burkina Faso, Africa.

The Company’s exploration team returned to the property in early January 2017 to further investigate the main quartz vein on the Niangouela permit. During this visit the Company’s geologists recovered quartz vein material from two separate shafts currently being exploited by artisanal miners (orpilleurs).

Sample NG007, which was taken from material extracted from the eastern shaft and from a depth of approximately 60 meters, returned values of 403 grams per tonne gold. The sample consisted of several fragments of quartz vein material containing host rock inclusion, and containing steaks and blebs of coarse visible gold.

Sample NG008 was taken from the western shaft, 10 to 12 metres west of the eastern shaft. This sample consisted of a single large piece of primary quartz vein containing host rock inclusions and also showed a cluster of visible gold. NG008 returned values of 49.8 grams per tonne gold.

The samples were analysed by Actlabs Ouagadougou an independent ISO 9001 certified laboratory. Samples NG007 and NG008 underwent a metallic screen analysis whereby a representative 500 gram split is sieved at 100 mesh (149 micron) with assays performed on the entire +100 mesh and two splits (A and B in the table below) of the -100 mesh fraction. A final assay is calculated based on the weight of each fraction.

Sample Au + 100 mesh

g/mt

Au – 100 mesh (A)

g/mt

Au – 100 mesh (B)

g/mt

Total Au

g/t

NG007 718 376 371 403
NG008 85.6 46 48.5 49.8

Three additional samples were collected and underwent conventional fire assaying at Actlabs. Sample NG009, a sample of sheared intrusive taken from the eastern shaft, returned 4.29 grams per tonne gold. Sample NG010, a sample of dump material consisting of sheared volcanic sedimentary rock, returned 0.113 grams per tonne gold. Sample NG011, from the primary quartz vein taken from a surface dump, returned 14.3 grams per tonne gold.

“These samples from the vein and elsewhere continue to confirm the presence of high grade gold at Niangouela,” said President and CEO, Peter Berdusco. “We are seeing an abundance of visible gold and some significant assay values.”

“The presence of visible gold is always encouraging and it will be really exciting to see what type and thickness of drill intercepts we uncover with a drill program” said Senior Geologist, Warren Robb.

The presence of coarse visible gold requires that the Company review the material it is analyzing in order to understand the size and the distribution of gold particles within the primary quartz vein. This information will assist the Company’s geological staff in selecting the appropriate analysis technique to determine future grade and tonnage estimates.

The Company is currently planning a comprehensive diamond drill program to test the primary quartz vein at depth and along strike.

The Company also announces that it will grant 1,800,000 incentive stock options to directors, officers and consultants of the Company.The options will be exercisable at a price of $0.16 for a period of five years.The grant remains subject to the approval of the TSX Venture Exchange.

Read the full company profile.

About the Niangouela Gold Concession

The 178 sq km Niangouela gold concession is located on the Boromogreenstone belt (as is the Company’s Bouboulougold concession), and is proximal to the Kalsaka deposit and the Sabce shear zone. It is accessible by road and has one major orpaillage (artisanal workings).

In December 2016 the Company conducted an 802m rotary air blast (RAB) drill program that delineated a 1,000-metre quartz vein and a 500-metre secondary strike, running oblique to the main vein. This vein has now been identified in trenches, artisanal workings and RAB drilling. It remains open in all directions. Two samples were collected at this time. Sample NG005 was taken directly from the primary quartz vein at 46m depth, accessed via an artisanal mining shaft. As reported in the January 11, 2017 company news release, this sample returned a value of 2,950 g/t gold. Sample NG006 was collected from the artisanal dumps of the sheared intrusive and returned a value of 23.9 g/t gold.

Historical exploration at Niangouela consists of 556 pits and 11 trenches, with numerous rock and soil samples. Previous programs have identified a zone which runs ENE and WSW in the south central part of the concession. This zone has returned gold in soil samples of up to 34 g/t Au. Rock samples have returned values of up to 18 g/t Au and trenching has returned values of 4.85 g/t Au over 10 meters. Historical assays of 5.93, 4.83 and 4.12 g/t Au over sample lengths of two metres have been returned from trenching over the vein. A qualified person has not taken steps to verify this data.

About Burkina Faso

Burkina Faso is a landlocked nation, located in West Africa. It covers an area of roughly 274,000 square kilometres and has an estimated population of more than 16 million people. The country has a stable political setting with a pro-mining and foreign investment stance. Burkina Faso is the fastest growing gold producer in Africa, and was the 4th largest gold producer in Africa in 2012. Eight new mines have been commissioned there over the past six years. The country has excellent geological potential. The Greenstone Belts that host all of the major deposits in Ghana and Cote d’Ivoire continue northward into Burkina Faso.Burkina Faso has undergone less than 15 years of modern mineral exploration, remaining under-explored in comparison to neighbouring Ghana and Mali; both of which host world-class gold mines in the same belts of Birimian rocks.

About the Company

Nexus Gold Corp. is a Vancouver-based gold exploration and development company operating in some of the world’s premier mining districts. The Company is currently concentrating its efforts on two gold projects located in Burkina Faso, West Africa. The Bouboulou gold concession is a 38-sq km advanced exploration target where previous drilling has confirmed multiple zones of gold mineralization. The Niangouela gold concession is a 178-sq km project featuring high grade gold occurring in and around a primary quartz vein 1km in length. For more information on these projects, please visit the Company website at www.nexusgoldcorp.com.

Warren Robb P.Geo., Senior Geologist is the designated Qualified Person as defined by National Instrument 43-101 and is responsible for the technical information contained in this release.

On behalf of the Board of Directors of

NEXUS GOLD CORP.

Peter Berdusco
President and Chief Executive Officer

604-558-1920
www.nexusgoldcorp.com

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. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

Connect with Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) to receive an Investor Presentation.


Nexus Gold Signs Definitive Agreement To Acquire Niangouela Gold Concession, Burkina Faso, West Africa

Vancouver, Canada / TheNewswire / December 6, 2016 – Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) is pleased to announce it has entered into a definitive agreement with Precision Resources SARL (the “Optionor”), pursuant to which Nexus will acquire the right to earn up to a 100% interest in the Niangouela gold concession located in Burkina Faso, West Africa.

Nexus will have an option to acquire up to a 90% interest in the Niangouela concession, in consideration for cash payments totalling US$370,000 and the issuance of 600,000 common shares, over a period of three years. Following acquisition of a 90% percent interest in the concession, Nexus will have a further option to acquire the remaining interest through a cash payment of US$1,000,000, subject to a 1.0% net smelter returns royalty to remain with the Optionor.

The 178 square kilometre concession is located on the Boromo Greenstone Belt, same as the Company’s Bouboulou Gold Concession and is proximal to the Kalsaka deposit. The property is road accessible and has one major orpaillage (artisanal workings).

“We are very pleased to add the Niangouela gold concession to our growing portfolio,” said President and CEO, Peter Berdusco. “It’s location is close to our Bouboulou project, so dedicating resources makes good logistical and fiscal sense. We look forward to beginning our exploration work there as historical data shows excellent potential.”

To date 556 pits and 11 trenches have been excavated, and rock and soil samples have been taken. A total of 1137 samples have been collected. Previous programs have identified a zone which runs ENE and WSW occurring in the south central part of the concession. This zone has returned gold in soil samples up to 34 g/t Au, rock samples have returned values up to 18 g/t Au, and trenching has returned values of 4.85 g/t Au over 10 meters. Recent rock samples taken by Nexus returned values from 1.12 g/t Au to 2.49 g/t Au.

Read the full press release.

Connect with Nexus Gold (TSXV:NXS; OTC:NXXGF; Frankfurt:N6E) to receive an Investor Presentation.


East Africa Metals Provides Project Update for Magambaz

East Africa Metals Inc. (TSXV: EAM) (“East Africa” or the “Company”) wishes to announce the Company’s development partner, Tanzanian Goldfields Limited (“Tanzanian Goldfields” or the “Developer”), has advised East Africa development activity has been initiated at the Magambazi Project located in the Handeni region of the United Republic of Tanzania (“Tanzania”).

According to Tanzanian Goldfields, the mobilization of equipment required to initiate test-mining and bulk-sampling operations as an initial phase of the development plan, is in progress. Gravity recovery equipment is currently onsite with additional equipment being mobilized to site from Dar es Salaam. Agitated leach tanks and Carbon in Leach (“CIL”) recovery equipment are scheduled for construction and installation over the next several months. Additionally, Magambazi Camp upgrades have commenced, with the production site preparation now in place.

Tanzanian Goldfields’ management has concluded discussions with community and government representatives for the handover of the Magambazi site and dismantling of artisanal operations to clear the way for the current test mining and bulk sampling program and future development of a commercial mining operation. The development of the Magambazi Project has the support of the local communities and the regional government with the handover now scheduled for October 12, 2016.

Tanzanian Goldfields indicates that test mining of the primary gold resource material, tailings and alluvial gold targets will commence October 15, 2016 with initial results expected to be available starting in November. Previously completed preliminary metallurgical test work on the primary gold mineralization at the Magambazi Project has demonstrated significant (72.6%) gold recoveries from gravity methods alone (see Canaco news release dated May 19, 2010). The initial phase of test-mining and bulk-sampling has been planned to confirm these results in the field and allow a definitive approach for the initial ramp up of production to be developed.

The East Africa /Tanzania Goldfields transaction
As previously disclosed, (see news releases dated March 7, 2016, December 10, 2015 and June 15, 2015), the Company has completed the execution of the Definitive Agreement with the Developer to acquire and develop East Africa’s projects located in the Handeni region of Tanzania.

Under the terms of the letter agreement (see news release dated June 15th, 2015), the Developer will; pay East Africa US$2 million in cash for a 100% interest in the Handeni properties, camp, equipment and other assets; convey to East Africa a 1.6% Net Smelter Royalty, capped at US$1.8 million, and convey to East Africa the right to acquire a gold stream equal to 30% of the life of mine gold production for a per ounce cost equal to the lesser of: (i) production cost plus 15% based on the Developer’s historical and budgeted production costs, and (ii) the prevailing market price for gold.

About East Africa
The Company’s principal assets and interests include both the 70%-owned Harvest polymetallic VMS exploration Project, which hosts the Terakimti Deposit and which covers approximately 86 square kilometres in the Tigray region of Ethiopia, 600 kilometres north‐northwest of the capital city of Addis Ababa, and the Adyabo Project, hosting the Mato Bula trend Adyabo Resource, covering 225 square kilometres immediately west of the Harvest Project. The Company owns 80% of the Adyabo Project, and upon execution of a Net Smelter Return (“NSR”) agreement the Company will own 100% of the Adyabo Project, subject to a 2% NSR. East Africa now has mineral resources defined at both projects in Ethiopia and plans to continue to test priority targets. Additionally, the Company owns the 91 square kilometre Handeni Property located in north-eastern Tanzania. Handeni includes the Magambazi Project, a gold deposit discovered in 2009. East Africa has entered into a definitive agreement with an arm’s length private exploration and development company to advance the project.

More information on the Company can be viewed at the Company’s website: www.eastafricametals.com. Jeff Heidema, P.Geo., a Qualified Person under the definitions of National Instrument 43-101, has reviewed and approved the contents of this news release.

On behalf of the Board of Directors:

Andrew Lee Smith, P.Geo., CEO

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “forecast”, “project”, “budget”, “schedule”, “may”, “will”, “could”, “might”, “should” or variations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made by East Africa as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of East Africa to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of the Terakimti Gold Oxide Resource mining permit; closing of project finance; early exploration; the closing of the agreement with the exploration and development company to advance the Magambazi Project or identify any other corporate opportunities for the Company; mineral exploration and development; metal and mineral prices; availability of capital; accuracy of East Africa’s projections and estimates, including the initial mineral resource for the Adyabo, Harvest and Magambazi Projects; estimated exploration license extensions; interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; foreign taxation risks; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; the speculative nature of strategic metal exploration and development including the risks of diminishing quantities of grades of reserves; contests over title to properties; and changes in project parameters as plans continue to be refined, as well as those risk factors set out in East Africa’s management’s discussion and analysis for the year end December 31, 2015; management’s discussion and analysis for the six months ended June 30, 2016; East Africa’s listing application dated July 8, 2013 and Tigray Resources Inc. Management Information Circular dated March 28, 2014. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The contained gold, copper and silver figures shown are in situ. No assurance can be given that the estimated quantities will be produced. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the successful integration of Tigray Resources Inc.’s business with the Company; the price of gold, silver, copper and zinc; the demand for gold, silver, copper and zinc; the ability to carry on exploration and development activities; the timely receipt of any required approvals including mining permits; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective manner; and the regulatory framework regarding environmental matters, the renewal or extension of exploration licenses, and such other assumptions and factors as set out herein. Although East Africa 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 information. The Company does not update or revise forward looking information even if new information becomes available unless legislation requires the Company do so. Accordingly, readers should not place undue reliance on forward-looking information contained herein, 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.

For further information, contact:
Nick Watters
Business Development
Telephone +1 (604) 488-0822
Email nwatters@eastafricametals.com
Website www.eastafricametals.com


Stellar AfricaGold Completes an Airborne Geophysical Survey on its Eastmain Belt North and South Properties, James Bay, Quebec

MONTREAL, QUEBEC–(Marketwired – Aug. 2, 2016) – Maurice Giroux, President and Chief Executive Officer of Stellar AfricaGold Inc. (TSX VENTURE:SPX) (“Stellar” or the “Company”) is pleased to announce that it has just completed the field portion of an airborne geophysical survey on its 100% owned Eastmain Gold Belt North and South properties located in the Eeyou Istchee Territory, James Bay, Québec. These two properties are located approximately 350 km north of the town of Chibougamau, Quebec and are both accessible from Chibougamau by the new 243-kilometer-long all-season road to Stornoway’s Renard diamond Mine (route 167 extension). The whole area is part of Quebec’s Government Plan Nord¨ Development Program.

The Eastmain Belt South Property consists of 37 claims totalling 1,950 hectares and is adjacent to the Eastmain Mine property owned by Eastmain Resources that have just announced a $1.3 million extensive exploration program in this significantly under-explored area. The Eastmain Mine is a past producing mine with ramp access to underground workings and surface infrastructure sufficient to accommodate a 60 person work force.

Stellar’s Eastmain Belt South property boundary is located just about 2 km to the East of the mine site and in the hinge of a major regional fold that affect the entire Eastmain Greenstone Belt that hosting the Eastmain gold mine.

The Eastmain Belt North Property, which consists of 16 claims totalling 840 hectares, is adjacent to SOQUEM Lac Harbour gold property located at about 25 km to the North of the Eastmain Mine. Geologically, the property is laying over the contact zone between the NE arm of the Eastmain Greenstone Belt and Granitoid rocks of the Canadian Shield.

The survey consisted of a total of 350 line-kilometre at line spacing of 100 metres of a Helicopter born Magnetic and Time-Domain Electromagnetic survey conducted by Prospectair Geosurveys and was prepared and planned by M. Joel Dubé, P.Eng, a Qualified Person as defined in NI 43-101. The survey data is currently under interpretation and results will be released as soon as available.

Maurice Giroux, President and CEO of the Company declares: “We are very pleased to have had the opportunity to position Stellar in this under-explored Volcanic Belt. The gold potential of the Sector is clearly defined by the presence of the Eastmain Gold Mine and by the SOQUEM Lac Arbour gold Project. I am very confident that the current exploration effort by Eastmain Resources, Stellar, Amex and others will confirm, with new discoveries, the great potential of that Greenstone Belt. The results of the current survey are essential in the understanding of the geology of the underlying area and in the planning of the next phase of work.”

ABOUT STELLAR AFRICAGOLD INC.

Stellar AfricaGold Inc. is a Canadian mine exploration Company based in Montreal, Quebec, with operations concentrated mainly in West Africa and in Quebec.

The Company is currently developing the promising gold potential of the Balandougou project in Guinea, which is at an advanced exploration stage, as well as the Namarana project in Mali.

In Quebec, the Company owns 100% of the Opawica, Eastmain Belt North and South and Terrax Option, all in the Chibougamau and James Bay area.

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.

Note that Stellar Website is temporarily closed for update purpose.

Maurice Giroux
President and CEO
Stellar AfricaGold Inc.
514-866-6299
514-866-8096 (FAX)
mgiroux.stellar@gmail.com
www.stellarafricagold.ca