Algold Reports 99% Gold Recovery on Tijirit from Expanded Metallurgical Test Results

Algold Resources (TSXV:ALG) (the “Corporation”) today announced results of expanded metallurgical tests results from drill core samples at the Tijirit project (“Tijirit”) in Mauritania, and these tests continue to demonstrate Tijirit’s exploration and mining potential. Following the positive testworks results completed in 2016 (see Press Release dated January 18, 2017), Algold conducted additional metallurgical work which consisted of grinding and cyanidation testing at SGS Lakefield.

Metallurgical testing were carried out at SGS Lakefield Laboratory (Ontario) on 16 composites using diamond drill hole core samples collected from the Eleonore (South, Central, North), Sophie II, and Lily Zones. The Eleonore composite was characterized by quartz veins associated with meta-sediments, metavolcanics or porphyries units. The Sophie II composite was made up of quartz veins within banded iron formation (“BIF”) and amphibolite and the Lily composite was made up of metasediments. Each composite weighted between 3 kg and 10 kg.

Recovery of gold amenable to gravity separation followed by cyanidation of the gravity tailings was conducted with the following results. Those tesworks have been conducted based on the same optimum conditions which were determined during the first program (2016-2017).

“These expanded metallurgical tests are very encouraging and confirm and build on the tests completed in 2016-2017. The testworks wich were performed on a larger number of samples continue to show that gold is easily recoverable at Tijirit” said François Auclair, Algold’s President and Chief Executive Officer. “These strong results, indicating 99% recovery along with the ongoing programs, should enable Algold to expand the metallurgical work, focusing on the process and recovery optimization in 2018, further advancing the Tijirit project”.

Head grades for each of the composites were as follow (Fire Assays):

Quality Assurance / Quality Control (QA/QC)
Analytical work was carried pout at SGS Lakefield. an ISO/IEC 17025 Certified Laboratory.

Analytical work for drill core and chips, geochemical samples and rock chip samples is carried out at the independent SGS Laboratories Ltd. in Bamako, Mali.  The 50 g fire assay with ASS finish analytical services are accredited by SANAS and are carried out with a quality assurance protocol in line with ISO 17025:2005. Samples are stored at the Corporation’s field camps and put into sealed bags until delivered by a geologist on behalf of Algold to the laboratory in Bamako, Mali, where samples are prepared and analyzed. Until the end of 2016, samples were analyzed at ALS’s facility in Loughrea, Ireland. Beginning in 2017, samples are analyzed at SGS Laboratory, Bamako. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70%, passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of up to 1,000 g is taken and pulverized to better than 85%, passing a 75-micron (Tyler 200 mesh) screen, and a 50-gram split is analyzed by fire assay with an AA finish.  Anomalous samples greater than 5 g/t Au are re-analyzed by 50 g fire assay with gravimetric finish.  Selected samples may be re-analyzed using a 1 kg cyanide leach (Bottle Roll) using “LeachWELL” or the 1 kg screen fire assay method.  Blanks, duplicates and certified reference material (standards) are inserted to monitor laboratory performance during the analysis.

This press release has been reviewed for accuracy and compliance under National Instrument 43-101 by André Ciesielski, DSc., PGeo., Algold Resources Ltd Lead Consulting Geologist and Qualified Person, and Alastair Gallaugher, C.Geo. (Chartered Geologist and Fellow of the Geological Society of London), BSc. Geology, Algold’s Exploration Manager in Mauritania, Qualified Persons as defined by NI 43−101 Standards of Disclosure for Mineral Projects. André Ciesielski has further approved the scientific and technical disclosure in the news release.

ABOUT ALGOLD
Algold Resources Ltd is focused on the exploration and development of gold deposits in West Africa. The board of directors and management team are seasoned resource industry professionals with extensive experience in the exploration and development of world-class gold projects in Africa.

FORWARD-LOOKING INFORMATION
This press release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward-looking statements (or forward-looking information). The Corporation’s plans involve various estimates and assumptions and its business is subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Corporation’s most recent Management Discussion and Analysis on file with the Canadian provincial securities regulatory authorities on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate. Forward-looking statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information. please contact:

Algold Resources Ltd. 
1320. boul. Graham. bureau 132. Mont-Royal. Québec. H3P 3C8. www.algold.com

François Auclair M.Sc.. PGeo                                                                       
President & Chief Executive Officer
f.auclair@algold.com
+1 (514) 889 5089

Alex Ball. MBA
Executive VP Financial
a.ball@algold.com
+1 (647) 919 2227

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Source: globenewswire.ca