Mr. Francois Auclair reports

ALGOLD RESOURCES LTD, COMPLETES REQUIREMENTS OF THE CARACAL EARN-IN AGREEMENT & PROVIDES UPDATE ON Q3 2015 EXPLORATION PROGRAM IN MAURITANIA

Algold Resources Ltd. has made progress on its third quarter 2015 exploration program in Mauritania, including work being carried out on both the Kneivissat and Legouessi properties.

During first quarter 2015, Algold completed its phase I exploration program on the Legouessi property, in accordance with the terms of the Caracal gold earn-in agreement, and, as a result, has earned its 51-per-cent participating interest in the Legouessi property. The interest in Legouessi will be held by a newly incorporated joint venture company, in which Algold will initially hold 51 per cent, with the balance held by Caracal. Under the terms of the agreement, Algold can increase its participation in the joint venture to 75 per cent and then 90 per cent, upon the completion of the phase II exploration program (for details, see press release dated Oct. 10, 2013).

In third quarter 2015, Algold initiated an extended field exploration program on both the Kneivissat and Legouessi properties, consisting of: a detailed IP (induced polarization) geophysical survey, detailed geological mapping, and limited trenching and sampling. In total, a 100-kilometre line survey will be carried out over the four main prospects: KC-LSO, NL, LC and SL (map details at Algold website). The principal objective of this exploration work is to delineate, with better accuracy, the chargeable units observed in the course of the 2014 IP survey and overlay them with the drilling results completed in second quarter 2014.

The results of the IP and mapping surveys will allow Algold to better estimate the size and orientation of the chargeable units, and target more efficiently the reverse circulation drilling program, anticipated to start in early Q1 2016.

Quality assurance/quality control (QA/QC)

Analytical work for soil geochemical samples and rock chip samples is carried out at the independent ALS Abilab Laboratories Ltd. in Bamako, Mali. Samples are stored at Algold's field camp and put into sealed bags until delivered by a geologist to the ALS preparation laboratory in Nouakchott, Mauritania. RC samples were combined to create two-metre composite samples. QA/QC procedures are followed, and 2 per cent gold standards, 2 per cent blanks and 2 per cent duplicates are added to the sample batch. Soil samples are sieved and prepared for shipping to Bamako. In Bamako, samples are crushed and pulverized to 200 mesh (80 microns), and a 30-gram split is analyzed by fire assay with an AA (atomic absorption) finish. ICP (inductively coupled plasma) analysis is conducted at the ALS Chemex Vancouver laboratory.

Blanks and duplicates are used to monitor laboratory performance during the analysis. Analytical work for the drilling program conducted by Caracal was carried out at the ALS Ireland laboratory under the supervision of a senior geologist.

This press release has been reviewed for accuracy and compliance under National Instrument 43-101 by Andre Ciesielski, DSc, PGeo, Algold Resources Ltd. lead consulting geologist and qualified person.

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