AntioquiaGold Inc

Antioquia Gold Cisneros Operations Update 06/08/2020

Antioquia Gold Cisneros Operations Update

Calgary, Alberta–(Newsfile Corp. – August 6, 2020) – Antioquia Gold Inc. (TSXV: AGD) (OTC Pink: AGDXF) (“Antioquia Gold” or the “Corporation”) is pleased to provide a summary of July 2020 production results for its Cisneros mining operation, and to announce the progress of other ongoing projects.

Production Summary and Operations Update:
During July 2,292 troy ounces of gold were produced at the Cisneros mining operation. An average of 555 tonnes per day were processed with a recovery of gold to concentrate of 97.0% during the month. As shown in the table below, a new record of gold production was achieved in the last month.

Below are other important announcements associated with the current status of the operation:

Plant expansion 1,200 TPD: Issues with the electrical connection have delayed the start of the Pre-commissioning and commissioning of the expanded plant, however the start of the second mill is confirmed for the first half of August.
Third Party Mineralized Material: This business line continues to contribute significantly to monthly production. An average of 450 ounces per month come from third parties, representing 23% of production during the last 3 months.
New high-grade vein discovery: A new narrow high-grade vein, named “Los Chachos” has been found. Channel sampling across the width of the vein was undertaken every two meters over strike lengths of 29 and 20 meters. Results of the assays are as follows:

* An average of 80.2 g/t Au over 0.45 meters true width along the 29 meter strike length
* An average of 90.3 g /t Au over 0.29 meters true width along the 20 meter strike length

Two drifts are being developed along the vein on the 1194 Sub-level of the Guaico Mine (Figure 1).