Antioquia Gold Completes Phase 2 Drilling and Extends Guaico Mineralization to Depth With Positive Results

CALGARY, ALBERTA--(Marketwire - Sept. 27, 2012) - Antioquia Gold Inc. ("Antioquia Gold") (TSX VENTURE:AGD)(OTCQX:AGDXF) is pleased to announce Phase 2 drilling at the Guaico deposit, at its flagship Cisneros Project in Colombia, has been completed and has extended the Guaico mineralization to a vertical depth of 350 metres.

Positive results have been received for 7 of the 12 drill holes drilled at Guaico with results for the remaining 5 holes expected in 3 to 4 weeks. Highlights of the results of the seven holes received to date can be found in Table 1 below. These include; 10.8 g/t Au over 6.6 metres, including33.2 g/t Au over 1.8 metres in drill hole GCO12-029 and 12.4 g/t Au over 3.85 metres, including 32.7 g/t Au over 1.5 metres in drill hole GCO12-027. Drill hole locations are illustrated in Figure 1 and a Composite Section view of the Guaico deposit illustrating structures defined to date, along with 2012 extensions to these structures (Figure 2) are attached and can be found on the company's website; link to

Table 1. Highlights of Phase-2 Drilling; Guaico Deposit.

Drill Hole From To Length (m)* Au (g/t) Cu (%)
GCO12-025 214.10 215.80 1.70 0.806  
GCO12-026 132.65 136.15 3.50 2.082  
Including 134.80 136.15 1.35 4.228  
GCO12-027 155.70 159.55 3.85 12.398  
Including 158.10 159.55 1.45 32.670  
GCO12-027 177.85 180.20 2.35 6.893  
Including 177.85 179.20 1.35 11.910  
GCO12-027 188.20 190.50 2.30 3.457  
GCO12-028 82.90 85.00 2.10 2.276  
GCO12-029 295.40 296.90 1.50 1.589  
GCO12-029 343.15 349.75 6.60 10.837  
Including 343.15 344.35 1.20 10.982  
Including 347.50 349.25 1.75 33.229  
Including 348.40 349.25 0.85   2.260
GCO12-029 455.10 472.10 17.00 0.348  
Including 467.05 468.60 1.55 2.463  
GCO12-029 455.10 484.10 29.00   0.349
Including 479.90 482.20 2.30   1.578
GCO12-030 32.95 35.35 2.40 7.002  
Including 32.95 34.80 1.85 9.074  
GCO12-031 180.25 181.60 1.35 0.423  
Note: *Intervals reported are drilled thickness and may not represent true width .

Phase 2 drilling commenced on June 26, 2012 with 4,393.4 metres of drilling completed at the Guaico deposit.

Drilling during 2012 at the Guaico deposit has been successful in further delineating the various structures comprising the Guaico deposit and all mineralized structures defined remain open to depth and along strike. Drill hole GCO12-031 intersected anomalous gold north of the Cisneros Fault suggesting that the Guaico mineralized system continues north of this fault. Furthermore, the company is also extremely encouraged by the presence of a broad Au+Ag+Cu mineralized system intersected at depth in GCO12-029. This zone, defined by 0.348 g/t Au over 17.0 metres and 0.349% Cu over 29.0 metres (plus significant Ag), is suggestive of a separate mineralized system occurring at Guaico, the significance of which remains to be defined by drilling.

Phase 3 of the 2012 drilling program is currently ongoing with 4 holes totaling 2,000 metres at the Guayabito deposit; these holes are to follow-up on successes from earlier this year (refer to press release of August 8, 2012). Once these holes have been completed in early October 2012, the drilling program will be suspended until January 2013. This will allow all results to be compiled, the geological model to be modified and an NI 43-101 resource report prepared.

We refer readers to the March 12, 2012, August 8, 2012 and September 11, 2012 News Releases for further information regarding the 2012 drill program and Cisneros Project.

"The occurrence of high-grade gold mineralization at depth and anomalous gold mineralization north of the Cisneros Fault is extremely encouraging at Guaico. The deep mineralization immediately increases the size of the Guaico deposit. Mineralization occurring along strike and north of the Cisneros Fault suggests additional drilling at Guaico could increase deposit size along strike as well", comments Ian Fraser, Chief Geologist for Antioquia Gold.

Regional exploration of 9 identified targets at the Cisneros project continues in order to define drill targets to be tested in 2013. Field work is comprised of geological mapping, prospecting and soil geochemical profiles. The Cisneros property regional exploration program is an integral part of Antioquia Gold's future as it is designed to confirm the potential and the extent of multiple gold occurrences on the Cisneros property.