AFRICAN GOLD GROUP, INC. ANNOUNCES CLOSING OF CDN$6.0 MILLION BOUGHT

AFRICAN GOLD GROUP, INC. ANNOUNCES CLOSING OF CDN$6.0 MILLION BOUGHT
DEAL PRIVATE PLACEMENT FINANCING


TORONTO, CANADA, December 16, 2009 – African Gold Group, Inc. (“AGG” or the “Company”) announced today that it has closed the previously announced bought deal private placement offering (the"Offering"). AGG issued an aggregate of 10,000,000 units of the Company (the “Units”) at a price of CDN$0.60 per Unit, for aggregate gross proceeds of CDN$6,000,000. The aggregate number of Units issued included 1,600,000 Units issued pursuant to the full exercise of the Underwriter’s option granted to the Underwriter under the Offering. Each Unit is comprised of one common share and one-half of one
common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrantentitles the holder to purchase one additional common share of the Company at a price of CDN$0.90 per common share for a period of 18 months (the “Expiry Date”) following the closing of the Offering.

Macquarie Capital Markets Canada Ltd. (“Macquarie” or the “Underwriter”) acted as sole Underwriter in respect of the Offering. The Underwriter received a cash commission of 6.0% of the gross proceeds raised in the Offering and 800,000 compensation options (each a “Compensation Option”). Each Compensation Option entitles the Underwriter to purchase one Unit of the Company at a price of CDN$0.60 per Unit until the Expiry Date.

The net proceeds of the Offering are intended to be used to fund the continuing development of the Company’s Kobada, Mali Project, the resumption of exploration at the Company’s 456 sq km
Asankrangwa, Ghana holdings, of which the north west quadrant (the Asuowunu concession) is on strike and contiguous with the recently discovered 3.5 million oz Essase gold deposit controlled by Keegan Resources, and for general working capital and corporate purposes.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, or any State Securities Laws and may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States.

All securities issued pursuant to the Offering are subject to a four month hold period commencing on the closing date of the Offering.


African Gold Group, Inc., based in Toronto, Canada, is engaged in the identification, acquisition and exploration of prospective gold projects that are situated along significant gold trends within West Africa.

To date, the Company controls a total of twelve gold concessions that are consolidated in five distinct standalone exploration projects, of which three projects are located in Ghana and the remaining two are located in Mali, West Africa.


Additional Information is available on the Company's website at: www.africangoldgroup.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THEUNITED STATES





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Century Mining (CMM: TSX-V) Announces C$4,000,000 Flow-Through Financing

Century Mining Announces C$4,000,000 Flow-Through Financing

Nov 26, - Century Mining Corporation (CMM: TSX-V) today announced that, subject to regulatory approval, it will complete a non-brokered private placement of up to C$4,000,000 comprised of units consisting of one common share issued on a flow-through basis and one half of a common share purchase warrant exercisable at a price of $0.30 for 18 months from the date of closing.

The Company will issue 20,000,000 units at an issue price of $0.20 per unit. The proceeds from this offering will be used for the underground drilling of the Lamaque project in Val-d'Or, Quebec. This financing comprises a portion of the $21,000,000 private placement described in the Company's November 2, 2009 press release.

The Company will pay Oberon Capital Corporation for introducing subscribers to the Company a finder's fee of cash equal to 4% of the aggregate gross proceeds, and broker warrants equal to 4% of the aggregate number of flow-through shares. Each broker warrant shall be exercisable for 18 months from the date of issue and shall entitle the holder to purchase a common share of the Company for a price of $0.20. The flow-through share issuance is subject to approval by the TSX Venture Exchange. All of the securities issued under this private placement will be subject to a four-month hold period.
Margaret Kent, President and CEO of Century commented, "This financing is part of the $21 million private placement, the balance of which we expect to close in early December."
About Century Mining Corporation
Century Mining Corporation is a junior gold producer. The Company owns and is working towards the start up of the Lamaque mine in Québec that historically has produced over 9.2 million ounces of gold. In Peru, Century wholly-owned subsidiaries own an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production. Total gold production for 2007 and 2008 was 63,124 and 14,252 ounces of gold, respectively.
"Margaret M. Kent"
Chairman, President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.
Caution Concerning Forward-Looking Information
This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and with Canadian securities regulatory authorities and available at www.sedar.com.
While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

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