Algold Further Advances Towards a Mining Lease on the Tijirit Gold Project

MONTREAL, February 27, 2017 /PRNewswire/ --

ALGOLD RESOURCES LTD. (TSXV: ALG - the "Corporation") is pleased to announce that the Mauritanian Ministry of Environment and Sustainable Development has provided a conclusive acceptance and opinion regarding the Environmental Feasibility of the Tijirit Gold Mine Project, a key step in Algold's strategy for 2017.

The acceptance and opinion, represents a significant first step towards the application of a mining lease for Algold's Tijirit Gold Project. Algold CEO Francois Auclair commented, "We thank the Government of Mauritania for helping us quickly advance this project, and look forward to additional collaboration in 2017."

This press release has been reviewed for accuracy and compliance under National Instrument 43-101 by André Ciesielski, DSc., PGeo., Algold Resources Ltd. Lead Consulting Geologist and Qualified Person, as defined by NI 43−101 Standards of Disclosure for Mineral Projects. André Ciesielski has further approved the scientific and technical disclosure in the news release.

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.

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 http://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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release 

François Auclair M.Sc., PGeo, President & CEO, f.auclair@algold.com, +1-(514)-889-5089; Alex Ball, MBA, Executive VP Finance & Corporate Development, a.ball@algold.com , +1-(416)-919-2227