December 16, 2011 Antioquia Gold Changes Financial Year End and Provides Drilling Update December 16, 2011, Calgary, Alberta: Antioquia Gold Inc. ("Antioquia Gold" or the "Company") (TSX-V: AGD; OTCQX: AGDXF) announces that on December 14, 2011, the Board of Directors resolved to change the year end of the Company from March 31 to December 31. The change in the financial year end from March 31 to December 31 will allow the Company to provide continuous disclosure information on a comparable basis with its peer group and to align its year end with the year end of its subsidiaries.
The Company's next filing of financial information will include audited consolidated financial statements for the nine-month period ended December 31, 2011. This financial information will be filed on or before April 29, 2012.
The 2011 drilling program at the flagship project, Cisneros was completed on December 3rd, 2011. A total of 18,988 metres, in 84 core holes, were drilled with over 9,600 core samples collected for analysis. Results are still pending on approximately 450 samples and will be released in January 2012 after findings from all remaining assays are received and interpreted. Work is progressing on the geological model and resource calculation for Cisneros and will be released upon completion.
The Company first conducted drilling on the property in mid-2009. Total metres drilled on the Cisneros project to date is 32,315 (163 core holes), of which approximately 20,000 metres (93 core holes) were drilled on the Guayabito and Guaico deposits. Total samples taken to date total 15,153.
About Antioquia Gold Inc.
Antioquia Gold has been exploring for precious metals in Colombia since 2007. The Company has a land package of close to 40,000 hectares located throughout Colombia. Antioquia's principal asset, which is being actively explored, is its 5,630 hectare Cisneros Project, located 55 kilometres northeast of Medellin in the Department of Antioquia, Colombia. At the Cisneros Project the Company has conducted extensive geochemical and geophysical programs over the entire property and has identified to date six exploration targets. On the original discovery zone it has drilled over 32,000 metres and is well versed in the understanding of the deposit type and the project's path to resource definition and production.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, including, but not limited to, statements about the release of sample results in January 2012, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. There is no certainty that the diamond drilling currently in progress will provide positive results of mineralization. For any forward-looking information given, Management has assumed that the results it has received and the interpretation thereof are reliable, and has applied metallurgical methodologies which are consistent with industry standards. Although Management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, the Corporation claim safe harbour for future releases. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.