Antioquia Gold Inc. Closes First Tranche of Private Placement

Antioquia Gold Inc. ("Antioquia Gold" or "the Company") (TSX VENTURE:AGD)
(OTCQX:AGDXF) is pleased to announce that it has closed the first tranche of its
previously announced non-brokered private placement for aggregate gross proceeds
of $1,329,046 (the "Placement") via the issuance of 11,075,383 units (each a
"Unit") at a price of $0.12 per Unit. Each Unit consists of one common share and
one-half of one common share purchase warrant exercisable at $0.25 for a period
of six months from the date of issuance.


Desafio Minero S.A.C. ("Desafio"), a current insider and "control person" of the
Company, subscribed for all of the Units under the Placement, bringing its total
ownership in the Company to 48.9% (on a non-diluted basis).


The proceeds from the Placement will be used for the exploration program at the
Company's Cisneros project in Colombia. 


All securities issued in connection with the Placement are subject to a
four-month hold period that expires on March 3, 2013. Completion of the
Placement is subject to TSX Venture Exchange final approval. 


About Antioquia Gold Inc. 

Antioquia Gold has been exploring for precious metals in Colombia since 2007
where its current holdings are 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 km northeast of Medellin in the
Department of Antioquia, Colombia. Extensive geochemical and geophysical
programs over the entire Cisneros property have identified six exploration
targets to date. On the original discovery zone, the Company has drilled over
40,000 metres and is well versed in the understanding of the deposit type and
the project's path to resource definition and production. 


On behalf of Antioquia Gold Inc. 

Richard Thibault, President & CEO

You can also follow Antioquia Gold on Twitter @AntioquiaAGD.

To receive Company news by email, contact info@antioquiagoldinc.com and mention
"Antioquia Gold" news in the subject line.


READER ADVISORY

Statements in this press release may contain forward-looking information
including, statements regarding the expected use of proceeds from the Offering.
Any statements that are contained in this press release that are not statements
of historical fact may be deemed to be forward-looking statements. The reader is
cautioned that assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may cause actual
results to differ materially from those predicted, as a result of numerous known
and unknown risks, uncertainties, and other factors, many of which are beyond
the control of Antioquia Gold. The reader is cautioned not to place undue
reliance on any forward-looking information. There can be no assurance that the
proposed exploration programs in Colombia or other project acquisitions will be
completed or, if completed, will be successful.


The forward-looking statements contained in this press release are made as of
the date of this press release, and Antioquia Gold does not undertake any
obligation to update publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by securities law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Antioquia Gold Inc.
JoAnne Dorval-Dronyk
403-457-4653
info@antioquiagoldinc.com
www.antioquiagoldinc.com


CHF Investor Relations
Juliet Heading
416-868-1079 x239
juliet@chfir.com

Antioquia Gold (TSXV:AGD)
Graphique Historique de l'Action
De Avr 2024 à Mai 2024