RNS Number:5925O
African Gold PLC
12 August 2003

Further to the announcement made on 11 August 2003, African Gold announces that
it has completed a further placing of 3,000,000 new ordinary 1p shares, at a
price of 1p per share, to raise #30,000. The proceeds of this placing will also
be used to provide additional working for the business. As a result of the
further placing, the holding of John Teeling, Chairman of African Gold, of
16,750,000 shares remains unchanged from 11 August 2003, but this holding now
represents approximately 10.75% of the issued share capital of 155,789,923
shares as enlarged by the placing of 3,000,000 shares.



Application will be made today for the 3,000,000 additional new shares to be
admitted to trading on AIM and it is expected that admission will take place and
dealings will commence on 15 August 2003.



African Gold also wishes to announce that, on 11 August 2003, the Company
granted the following options


                         No of options granted       Exercise
Name                                                    price        Expiry date

John Teeling, Chairman                 500,000             1p     10 August 2010
David Horgan, Director                 500,000             1p     10 August 2010




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

LISILFIETTIFLIV