Algold Announces an Option Grant


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TSX.V:ALG
05/29/2014 [ACCESSWIRE]

Montreal, Canada / ACCESSWIRE / May 29, 2014 - Algold Resources Limited. (ALG: TSXV - the "Corporation" www.algold.com) announced a grant of 80,000 options, for consulting services, to Medea Capital Partners Limited, a London-based natural resources merchant bank focused on Africa. Options vest immediately, have an exercise price of $0.20 and expire in April 2016. Medea Capital Partners Limited is a related party, as an Algold Director is also a Director and a significant shareholder of Medea Capital Partners Limited.

ABOUT ALGOLD

Algold Resources Ltd is focused on the exploration and development of gold deposits in West Africa. The board of directors and management team are seasoned resource industry professionals with extensive experience in the exploration and development of world-class gold projects in Africa.

Algold is the operator on both the Kneivissat and Legouessi Properties. The Kneivissat property is 90% owned by Algold and the Legouessi property is being managed through a 51% earn-in interest agreement with Caracal (Electrum Group Companies). Algold can earn up to a 90% interest in the Legouessi exploration permit (see October 10, 2013 press release for more details), however, Caracal has the right to participate in the joint venture at either 51% or 75%, by funding its share of expenditures.

CAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING INFORMATION

This news release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward looking statements (or forward-looking information). The Corporation's plans involve various estimates and assumptions and its business is subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Corporation's most recent Annual Information Form and most recent Management Discussion and Analysis on file with the Canadian provincial securities regulatory authorities on SEDAR at www.sedar.com. These forward looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws.

For further information, please contact:

Algold Resources Limited.

1320, boul. Graham, bureau 132, Mont-Royal, Quebec, H3P 3C8, www.algold.com

Francois Auclair M.Sc., PGeo Yves Grou, CPA CA

President & CEO Executive Vice Chairman

f.auclair@algold.com y.grou@algold.com

(514) 889 5089 (514) 237 7757

SOURCE: Algold Resources Limited 

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