August 07, 2008 Exploration Update On Colombian Gold Project (TORONTO, TSXV:AGD.V) - As previously disclosed, two modern exploration programs have been completed on the Guayabito property to date, a limited due diligence program and a more thorough geological mapping and sampling program. The due diligence program included the collection of seven samples from the property. The samples were collected by Am-Ves personnel and carried to Canada for testing. The more detailed preliminary geological mapping and sampling program included the collection of 221 samples (four samples were collected for metallurgical testing, 31 samples were for QA/QC, while 186 samples can be used to define the geochemistry of the property). The purpose of the sampling was two-fold, the first to cover the property with reconnaissance level prospecting and the second to investigate the old underground workings. A total of nine underground workings were mapped and sampled with a total of 113 samples taken. The property wide exploration included 73 samples mostly from creeks and road cuts. Of the 186 samples, 51 samples have assay values greater than 450ppb (0.45 g/t) gold, to a maximum of 40,000ppb (40 g/t), all of which were collected from the Guayabito property, or within 200m of its boundary.
On August 4, 2008, a field exploration program on the Cisneros Project area was initiated which will continue for approximately 3 months. This exploration program is designed to collect information on the mineralogy, alteration and structure of the project area in order to develop a geological model and define target areas for further detailed exploration, including drilling. The program is to consist of:
a soil sampling program on 100m spacing over the properties
chip and channel sampling (rock saw) of existing mine workings, tunnels and
mapping of existing mine workings, tunnels and rock outcrops
Over the past month, in anticipation of the transaction with Am-Ves Resources Inc. closing (see press release dated July 30, 2008) and the Company's shares being listed for trading (AGD.V effective August 5, 2008), a geology team has been assembled and preliminary logistic requirements have been defined. Additionally on August 4, 2008 company representatives held a meeting in the town of Quiebra with interested parties from both the municipalities of Santo Domingo and Cisneros to commence the socialeconomic program, community relations and base line environmental study.
Brad Van Den Bussche, P. Geol., a qualified person under the definitions established by National Instrument # 43-101, has reviewed the information contained in this news release.
The Company is pleased to announce that James H. (Jim) Decker has agreed to join the Company as a member of the Board of Directors. Mr. Decker is a professional engineer with over 40 years in the mining industry.
The Corporation also announces that it has granted stock options to its officers, directors and consultants. A total of 2,400,000 options to acquire common shares at $0.30 for a period of 3 years have been granted subject to regulatory approval.
Antioquia Gold Inc. is a junior exploration company focused on searching out, exploring and developing mineral opportunities in Colombia. Its initial project, the Guayabito property, is in the Antioquian Batholith near the town of Cisneros in the Department (region) of Antioquia in Colombia. The Company has offices in Calgary, Alberta and in Medellin, Colombia. Antioquia Gold Inc. currently has a total of 26,151,188 common shares issued and outstanding.