Algold Resources Ltd. announced further preliminary assay results from its Phase IV 25,000-meter drilling campaign carried out on the Corporation’s Tijirit property (“Tijirit”) in Mauritania. Hole T18RC059 (Eleonore South) – 37.35 g/t Au over 2 meters, including 60.7 g/t Au over 1 meter on section E8380, within the open pit limits defined in the preliminary economic assessment, and 30 meters north of hole T16RD041, which intersected 36.09 g/t Au over 1 meter, including 65.0 g/t Au over 0.5 meters. Hole T18RD054 (Eleonore South) – 11.23 g/t Au over 2.7 meters, 7.65 g/t Au over 3.3 meters and 6.04 g/t Au over 4 meters on section E8430, located 40 meters below hole T17RC112, which intersected 1.21 g/t Au over 8 meters. Infill drilling on the same section, 58 meters above hole T18RD054, identified a visible gold bearing quartz-carbonate shear vein 59 meters depth in hole T18RD055 – 21.9 g/t Au over 0.5 meter. Hole T18RC089 (Eleonore South) – 1.75 g/t Au over 10 meters on section E7780, located 16 meters above hole T16RC077, which intersected 0.74 g/t Au over 4 meters. Hole T18RC090 (Eleonore South) – 7.97 g/t Au over 3 meters on section E7825, located 25 meters south of hole T17RC122, which intersected 8.16 g/t Au over 5 meters. These drilling results reported, from the Eleonore South zone, continue to validate the spatial continuity of the mineralization identified to date and, importantly, demonstrate that high grades are recurrent along strike and dip. The Eleonore South mineralization extends over 1.2 kilometers from north to south and is the southern-most zone defined thus far on the 3.4-kilometer-long Eleonore structure. Several discrete shear zones that may control the high-grade gold mineralization remain largely untested at depth. The Eleonore South zone geology is similar to other zones, with the mineralization hosted within mafic volcanics and quartz-rich porphyry; it is separated from Eleonore Central by a fault. Detailed observations from core drilling suggest dominant steep-dipping mineralized zones related to regional schistosity and folds. The presence of a possible shallow east-dipping late mineralized shear is being currently tested. Rheological contrasts and zones of weakness are important factors in the controlling of shear propagation and mineralization emplacement. The Phase IV 25,000-meter program was initiated on May 7, 2018 with an objective to complete an initial 15,000 meters of drilling by mid-July in order to upgrade inferred resources to the indicated and measured category using a 40x40-meter grid. To date, Algold has completed 12,900 meters of reverse-circulation (“RC”) and 6,930 meters of diamond drilling (“DD”).