African Gold Group, Inc. provided an update on the development of its Kobada Project. During the past months, the company has been working diligently at advancing the project, focusing mainly on increasing the reserve base and optimizing the free-milling sulphide metallurgical testing as noted in previous press releases on March 16, 2021 and March 30, 2021. Highlights of July 2020 DFS: Average annual production of 100,000 ounces of gold per annum for the first 5 years of operation. Total gold production of 728,654 ounces over 9.4 years life of mine, based on current reserves. Average total operating cash costs USD 704/oz for the Life of Mine ("LOM"). LOM All-In Sustaining Cost ("AISC") of USD 782/oz. Pre-tax NPV5% of USD 283.9 million with an IRR of 45.5% and a post-tax NPV5% of $226 million with an IRR of 41.1% at USD 1,530/oz gold. Kobada Gold Project capital expenditure of USD 125 million (plus a contingency of USD 11 million).