African Gold Ltd. announced that drilling has commenced on the Syama Shear Zone Joint Venture Project (the Project) located in south western Mali. African Gold's joint venture partner, Resolute Mining Limited, has commenced aircore (AC) drilling to test for mineralisation within the saprolite on the Project area. Bottom of the hole multielement geochemistry will also be completed and allowing for further refining of the geological map of the area and assisting in defining potentially prospective lithological contacts.

Anomalies identified from the AC drilling campaign will be followed up with reverse circulation (RC) drilling and further exploration targets tested with AC drilling. 2,500m of RC drilling is proposed to allow for an initial assessment to be made on potential for an oxide/sulphide mineral resource. African Gold's Syama Project is contiguous to Resolute Mining's Syama mining permit and is only approximately 10km from the 8.7 million ounce Syama Gold Mine (see RSG ASX release dated 31 December 2021).

Resolute can earn up to an 80% interest in the Project by the completion of an agreed minimum exploration program in two years and the subsequent complete a feasibility study over an eight year period. The Company's flagship Didievi Project in Cote d'Ivoire has returned spectacular wide, high grade drilling results that has resulted in the Company releasing a maiden Exploration Target for the Project. The potential quantity and grade of the Exploration Target is conceptual in nature.

There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The reader is advised that an Exploration Target is based on existing drill results and geological observations from drilling as well as interpretation of multiple available datasets. Refer to ASX announcement dated 18 October 2022.

The Walia Project is a 366km2 exploration permit located in north-western Mali. The Project is immediately adjacent to and along strike from Barrick Gold Corporation's +14M oz gold Loulo Gold Mine.