Algold Resources Ltd. provided an update on its 2013 exploration program in Mauritania and outline the 2014 exploration plan. Currently exploration work is being carried out on two Mauritanian properties, Knievissat and Legouessi. The Knievissat property is 90% owned by Algold and the Legouessi property is being managed through a 51% earn-in interest agreement with Caracal Gold (Electrum Group Companies), which was announced in 2013.

Both properties are easily accessible by paved road from the capital of Mauritania, Nouakchott, and are situated in northwestern Mauritania, adjoining the world class Tasiast Gold Deposit. Kneivissat Property: The Kneivissat 2 exploration license is an 833-square-kilometer property situated approximately 300 kms from Nouakchott, about 25 km from the Tasiast mine in north-western Mauritania. The property is underlain by the Archean Aeoudat greenstone belt which trends NNE.

The belt is characterised by a series of elongated and narrow volcano sedimentary sequences metamorphose to the greenschist facies. On the property, the Archean basement is composed of a series of intercalated volcanosedimentary belt quartzo-feldspathic, medium grained, gneiss, coarse grained pegmatite and syntectonic aplites, as well as fine grained biotite gneisses, all oriented N-S. Elongated volcano-sedimentary sequences overlay the basement rock. Preliminary interpretation indicates that an ultramafic volcanic unit was affected by intense hydrothermal alteration, and pervasively silicified.

This type of rock is known as Birbirite. On Kneivissat, it corresponds to a magnetic high which extends for more than 10 km of strike over width ranging from 500m to + 1 km. This unit is associated to a gold soil anomaly with values of up to 183 ppb.

The anomaly extends over a strike length of more than 5 km and has a width of 500m to 1.0 km at the 95% over the Knevissat property. Legouessi Property: Algold can earn a 51% interest in the Legouessi Property by spending $1.5 million, 50% ($750,000) before October 10th, 2014, and up to a 90% interest by spending a further $3.0 million in exploration costs and completing a NI43-101 compliant bankable feasibility study. The Legouessi property is located in northern Mauritania, 325 km northeast of Nouakchott and 30 km north of the Tasiast mine.

It covers 994 square kms and is contiguous to the Kneivissat property. The Archean basement is composed of medium grained quartzo feldspathic gneiss with minor mafic minerals, fine grained feldspar biotite gneiss and coarse grained pegmatite. These units are mostly oriented NNE and are cross cut by numerous NE trending fine grained diabase dykes.

Caracal Gold conducted a major exploration program over a 4 year period, including soil geochemical surveys over most part of the property (18 438 samples), airborne magnetometer and radiometric surveys (2 774 line km), and drilled 5 977 metres of core drilling principally in two areas ­ SL (20 ddh) and NL (17 ddh). The reinterpretation of the drilling is underway to better understand the close relationship between the high mag, the very intense silicification of some of the ultramafic units, and the gold in soil anomalies. The NL area is characterised by gold soil anomalies covering roughly 1 sq km.

Some 20 diamond drill holes were completed in this area, with a main section of 12 holes oriented NW and plunging SW for a total of 1,350m. Gold mineralisation was intersected within quartz pyrite pyrrhotite zone, with best results being a 2.94 g/t Au over 1.0 metre (NL04) and 0.92 g/t Au over 4 metres (NL 3A). 2014 Exploration Plan: Algold exploration plans for Mauritania in 2014 will involve more geological mapping of the geophysical and lithostructural satellite anomalies, covered by the airborne magnetometer survey, pursuit of the soil geochemical surveys over the most favourable horizon, as well as an IP geophysical survey over the Birbierite Zone.

This will be followed by an exploration drilling program in Second Quarter of 2014 over the most favourable prospects. Geologists and crew are currently in the field undertaking geological mapping, geochemical soil and rock chip sampling, and planning the upcoming IP surveys plan for mid-February. Algold is planning expenditures of approximately $1.0 million for the first half of the year.