Gold Exploration in West Africa

[FL]

Viking Ashanti (VKA in Sydney) first Ghana results

See

http://us-cdn.creamermedia.co.za/assets/articles/attachments/34059_release_-_multiple_gold_zones_for_perths_viking_ashanti_in_new_drilling_in_ghana_13_jul_2011.pdf

for full story and maps.
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Viking Ashanti Limited
13 July 2011

ASX Release

Multiple gold zones in first drilling program southwest of Akoase East resource

Multiple zones of gold mineralization have been intersected by Perth-based Viking Ashanti Limited (ASX:VKA) from the first ten Reverse Circulation (RC) holes drilled on the southwest extension of its 500,000 ounce Akoase East gold project in Ghana, West Africa (Figure 1).

? Intersections include 5m @ 3.06 g/t Au, 6m @ 1.36 g/t Au, and 15m @ 1.51 g/t Au.

? Results confirm potential for extending existing resource along strike to the southwest.

Better intersections from this new drilling include 5m @ 3.06 g/t Au and 3m @ 1.21 g/t Au in hole AKRC112, 6m @ 1.36 g/t Au in hole AKRC113, and 15m @ 1.51 g/t Au and 1m @ 3.13 g/t Au in hole AKRC116 (Table 1, Figures 2 and 3).

These holes demonstrate that multiple zones of shallow mineralization continue for at least 400 metres southwest and immediately along strike of the current resource at Akoase East, and at grades and widths comparable to the existing Akoase East resource. The Company believes excellent potential exists for further extensions of the current resource in this area.

To date, 24 holes of a planned 48 RC hole program have been completed at 100m line spacing. The remaining holes will be drilled at 200m line spacing along strike to the southwest. A further 4 strike km of the main Akoase structural trend extending to the southern boundary of Viking Ashanti’s licence area remains to be drill tested following completion of this program.

Viking Ashanti’s primary objective since listing remains to increase the existing 500,000 JORC classified resource at Akoase East and with contributions from its other Ghanaian gold projects including West Star and Blue River, build a gold resource inventory of more than 1 million ounces by mid-2012.

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Viking Ashanti Limited
ACN 126 200 280
16 Ord Street, West Perth, WA 6005
T [phone] F [phone]
W www.vikingashanti.com