Antioquia Gold Inc. (AGDXF)

[frenchy]

Antioquia Announces Cisneros Project Update

January 16, 2017 - Calgary, Alberta: Antioquia Gold Inc. ("Antioquia" or the "Company") (TSXV: "AGD") wishes to report on progress at its Cisneros Project in Colombia. As reported in December, the receipt of Antioquia's final environmental permit has been the catalyst to take the development and construction activities at its Cisneros Project to a significantly higher level. The following update highlights some of the key events currently ongoing.

Guaico ?Underground Work Activities - Progress to year end 2016:?The main access ramp has advanced to a total length of 990m and reached an elevation of 1160 a.s.l., some 115 m below the mine portal. This level will be the first main production gallery of the Guaico Mine. Work on developing these galleries are scheduled to begin this month.
?Besides the 990m of main ramp development, additional operations totalled 1,374m including the following:?Ore passes
?Ventilation raises
?Draw points
?Loading areas and cross cuts
?Production galleries

?An additional ventilation shaft is being raise bored to connect the 1240 level with the 1160 level;
?The underground explosives magazine has been commissioned and has a total storage capacity of up to 150t of explosives;
?Two intersections of the Guaico vein at the 1213 and 1200 level draw points assayed 13.8 g/t Au over 1.4m and 3.2 g/t Au over 1.3m respectively;
?Further exploration galleries have commenced on both the Manuela and Nus vein structures. The most notable channel sample result received to date from the Nus vein is 16.38 g/t Au over 1.8 m.
?This progress can be seen on Figure 1.

Figure 1 shows the mine tunnelling projected advance and Figures 2 and Table 1 show the complete results of the Nus sampling program which are attached as an Appendix and can also be found on the Company's web site (www.antioquiagoldinc.com).
Guayabito ?Guayabito South Drilling - In the month of December the Company completed a 4-hole 470m diamond drill program intended to link the most recent drill results on this property to the resources on the original Guayabito structure. Laboratory assay results are pending.
?Guayabito Mine - The final portal design is complete and development work will commence in early February;
?Process Plant ?The following equipment has been delivered to site, photos can be seen on the Company web site;?500 tpd jaw crusher
?Vibrating feeder
?Cone crusher
?Vibrating screen

?The 10' x 8' ball mill is complete and is undergoing final inspection; arrangements have been made to ship it to Cisneros in the next couple of weeks;
?Topsoil removal activities are currently ongoing in preparation for plant and camp infrastructure;

?Other - Total manpower at the Cisneros Project including contractors and Antioquia employees at year end 2016 was 222. This total is expected to increase as Guayabito mine development gets fully underway and plant construction commences.
In summary, the project continues to advance well with completion and production still anticipated by management in the 4th Qtr of 2017.

Further information and photographs can be found on the Company's website www.antioquiagoldinc.com.