About West Africa Gold Inc.:
West Africa Gold (www.westafricagold.com) is an aggressive gold
exploration company that has acquired certain rights to mine for minerals,
primarily gold, in various regions of the Republic of Mali, which is located
in West Africa. Their outstanding exploration and operational management team
has in excess of 60 years of professional geological experience, and has
extensive familiarity on a local level in respect of mining in Africa. The
team is highly educated, including PhDs, and all have recognizably solid
reputations throughout the mining industry. The company also recently
announced and executed a 10-for-1 forward stock split to improve trading
liquidity and to attract smaller investors.
West Africa Gold currently has five projects underway. They are Toubikoto
(Gold), Manianguinti (Gold), In Darset (Gold, Base Metals), Anefis (Gold, Base
Metals), and Touban (Nickel, Copper, pge's). The five projects are diversely
located throughout Mali, and aggregately cover an impressive 1000 square
kilometers. Since 2001, Mali has been the 3rd largest gold-producing country
in Africa, trailing only South Africa and Ghana. Most importantly, to West
Africa Gold, is the political stability and harmony enjoyed by both the Malian
people and foreign Mining companies operating in Mali. Gold accounts for
approximately 90% of Mali's total mineral exports, and in excess of 20% of all
exports. Malian gold production is expected to almost double to 37% when
several new projects go into full production. Mali has been extensively
evaluated and it has been concluded that the country has an incredible
350 tons of recoverable gold, and is widely recognized as having enormous
potential for abundant gold extraction. West Africa Gold is well positioned
to reap great benefits from its Malian properties. The Independent Geological
Evaluation of West Africa Gold's properties are that they may contain an
Inferred Geological Resource of up to 3,000,000 ounces of gold. Extremely
high Values of Zinc and Copper have also been recorded. Mali is also known
for its low extraction costs, so certain expenses will be controlled.
Considering the amount of gold in Mali, as well as the sheer size and
professionally evaluated potential of its properties, West Africa Gold has a
very bright future ahead of it. Its Advisory Committee will consist of
renowned mining and geological experts. This highly experienced and dedicated
team will have the local expertise so as to be familiar with Mining operations
in Mali. West Africa Gold is debt free and is in the final stages of
preparation to raise an additional US$5 million in additional funding. The
company plans to use this money to continue to explore and create additional
value to its current properties, and to identify and secure additional Gold
Mining Properties. West Africa Gold has many positive factors that weigh
heavily in its favor, and with Gold holding its own at around the US$380/oz
level, it continues to be a company with enormous potential.
Statements contained in this press release, which are not historical
facts, are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
are based largely on the Company's expectations and are subject to a number of
risks and uncertainties beyond the Company's control, including but not
limited to economic, competitive and other factors affecting the Company's
operations, management team effectiveness, expansion strategies, available
financing, market prices and recovery costs, government regulations involving
the Company, facts and events not known at the time of this release, and other
factors discussed in the Company's filings with the Securities and Exchange
Commission.
These statements are not guarantees of future performance and readers are
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this release. The Company undertakes no
obligation to update publicly any forward-looking statements.
BMFL<OD
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