Abzu Gold Announces Non-Brokered Private Placement and Management Changes

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Abzu Gold Ltd. ("Abzu" or the "Company") (TSX VENTURE:ABS) is pleased to
announce that certain investors, including Stonehouse Construction Pte. Ltd.,
intend to invest an aggregate of $2,000,000 in the Company through a
non-brokered private placement (the " Private Placement") of 40,000,000 units
(the "Units") of the Company at a price of $0.05 per Unit. Each Unit will
consist of one common share (a "Share") of the Company and one common share
purchase warrant (a "Warrant") of the Company. Each Warrant will entitle the
holder thereof to purchase one Share at a price of $0.10 per Share for a period
of 12 months following the closing of the Private Placement. 


The Private Placement is subject to TSX Venture Exchange (the "Exchange")
approval and all securities issued pursuant to the Private Placement, including
the Shares issued on exercise of the Warrants, will be restricted from trading
for a period of four months and a day from the date of issuance of the Units in
compliance with securities legislation and Exchange policies. The proceeds from
the Private Placement will be used for the Company's on-going development of its
operations in Ghana and general working capital purposes. 


Effective today, the Company also announces the appointment of Mr. David Price
as Chief Executive Officer of the Company, who will be replacing Mr. Timothy
McCutcheon who has resigned as a Director and the Chief Executive Officer of the
Company. In addition, Mr. Ross McDonald has resigned as the Chief Financial
Officer of the Company, and will be replaced by Mr. Wilson Soon. The Company
thanks Mr. McCutcheon and Mr. McDonald for their contributions to the Company
and wishes them continued success. 


David Price

Mr. David Price is a seasoned and forward-thinking senior executive with more
than 25 years of bankable experience in Project Finance and Funding, Investor
Relations, M&A and major project execution and delivery experience, from concept
to full commercial operation, of major resource development opportunities and
utility grade power generation projects around the Globe.


Currently, Mr. Price is Country Manager, Canada for Stonehouse Mining Group as
well as Corporate Communications Manager for KazaX Minerals Inc., and is
well-versed in mining resource development with significant strength in economic
analysis and valuation, project finance, financial and economic modeling, mine
design and operation management. He has operated extensively throughout Africa,
South America, Canada and the USA. He has vast experience in environmental
assessment, statutory and regulatory compliance and approvals, associated with
the development and delivery of major potash, gold, silver and poly-metallic
mining and construction projects. Projects include Palaborwa Mine,
Buffelsfontein Mine, Sigma Colliery and the Milestone Project. 


Experienced in Utility Grade Energy Resource development, Mr. Price has
delivered the first Wind Park in Ontario and the Bear Mountain Wind Park in
B.C., hydroelectric, cogeneration, combine cycle, wind, biomass, and landfill
gas power generation development projects when having worked with blue-chip
companies such as Rio Tinto, Anglo American, Clean Power Income Fund, the Probyn
Group, AltaGas, Fluor Daniel Corp., and SOEKOR. 


Mr. Price obtained his MBA from the London Business College, a Bachelor of
Science degree in Civil Engineering from Leeds University, England.


Mr. Gordon Neal, Chairman of Abzu Gold Ltd., stated that "the Abzu Board are
delighted to have secured the services of David, a well-seasoned professional
with a proven track record in getting projects to production, which will be of
paramount importance in driving forward Abzu's flagship operation in Nangodi,
Ghana."


On behalf of the board of directors of ABZU GOLD LTD.

Gordon Neal, Chairman

Cautionary Statements

This news release contains forward-looking statements that are not historical
facts. Forward-looking statements involve risks, uncertainties and other factors
that could cause actual results, performance, prospects, and opportunities to
differ materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ materially from
these forward-looking statements include those risks set out in Abzu's public
documents filed on SEDAR at www.sedar.com. Although Abzu believes that the
assumptions and factors used in preparing the forward-looking statements are
reasonable, undue reliance should not be placed on these statements, which only
apply as of the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all. Except where
required by law, Abzu disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new information, future
events or otherwise.


This news release does not constitute an offer to sell, or the solicitation of
an offer to buy, any securities in any jurisdiction; nor shall there be any sale
of securities in any state in the United States in which such offer,
solicitation or sale would be unlawful. The securities referred to herein have
not been, and will not be, registered under the United States Securities Act of
1933, as amended, and may not be offered or sold within the United States or to
or for the account or benefit of U.S. persons absent registration or an
applicable exemption from registration requirements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Abzu Gold Ltd.
Gordon Neal
Chairman
604-638-3288
Abzu Gold Ltd. (TSXV:ABS)
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