African Gold Group, Inc. announced that the Ministry of Environment, Sanitation and Sustainable Development of the Republic of Mali has approved the Environmental and Social Impact Assessment (?ESIA?) for the Kobada Gold Project (the ?Project? or ?Kobada?) and issued an updated Environmental Permit. The ESIA marks a key milestone in the permitting process and is the culmination of extensive consultations and stakeholder engagement. Significant Production Potential; 3 Mtpa operation producing 1.2 Moz of gold over a 16-year Life-of-Mine (?LOM?). Average annual gold production of 100,000 oz over the first 10 years. Strong Economics; Pre-tax NPV5% of $506 million with an IRR of 45%. Post-tax-NPV5% of $355 million (57% increase compared to 2020 DFS) with an IRR of 38%. Pre-production capital requirement of approximately $152 million (excl. working capital and contingencies) . Total project cash flow pre-tax of $733 million with net cash flow after tax and capital expenditure of $550 million. Capital payback of 2.3 years upon production commencement. Environmentally and Socially Responsible; A hybrid thermal and solar photovoltaic power plant with battery energy storage, will be funded by an independent power producer. Power rate of estimated $0.20 per kWh results in estimated savings annually resulting from a 43% reduction in fuel requirement versus conventional thermal power plants. Substantial reduction in greenhouse gas emissions through utilisation of hybrid power plant, including 39% less carbon dioxide, 34% less carbon monoxide, 39% less sulfur dioxide and 26% less nitrogen oxides than conventional thermal power plant.