RNS Number:8762R
African Gold PLC
10 November 2003

African Gold is pleased to announce that it intends to raise #500,000 through
the issue of up to 50,000,000 new ordinary shares at a price of 1p per share.
The proceeds of the fundraising will be applied to further the Company's
exploration activities in Africa and other countries and to provide additional
working capital. 40,000,000 of the shares to be issued will be issued to a
consortium of new investors in the Company and it is expected that two or three
new non-executive directors will be appointed to the Company's Board to
represent the consortium. Further details of the fundraising and the expected
new appointments to the Board will be announced shortly.


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