Abzu Gold Ltd.

Abzu Gold Ltd.

May 11, 2011 09:00 ET

Abzu Gold Expands Mpatasie/Golden Reef Drill Target to 5 Kilometres by 3 Kilometres Asankrangwa Belt, Ghana

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2011) - Abzu Gold Ltd. (TSX VENTURE:ABS)(OTCQX:ABZUF) ("Abzu") is pleased to announce new positive results from a recently completed 1800-sample soil geochemical program on its Golden Reef concession (Figure 1 & 2). The new results highlight a number of higher grade surface anomalies that are on trend with previously defined major mineralized structural zones such as Mpatasie where the surface target area now covers an area 5 kilometres by 3 kilometres. Gold in samples ranges from below detection limit to 3.45 g/t with more than 5% of the samples containing >=200ppb gold and 18% of the samples containing >= 50 ppb gold (Figure 2 & 3).

To view Figure One, please click the following link: http://media3.marketwire.com/docs/abs_fig01.pdf

Abzu President Dr. Paul Klipfel states: "These follow-up soil results are extremely encouraging and have dramatically expanded the Mpatasie target into a major gold target which will be addressed by our initial drill program to begin this month. The significant number of samples in excess of 300 ppb gold is impressive as these are grades commonly used for cutoff grade bulk tonnage deposits and are clustering along know mineralized structural trends enhancing our drill targeting".

To view Figure Two, please click the following link: http://media3.marketwire.com/docs/abs_fig02.pdf

To view Figure Three, please click the following link: http://media3.marketwire.com/docs/abs_fig03.pdf

Project Highlights

The Golden Reef and Mpatasie concessions, along with the nearby U and N concession blocks to the north, lie along key structural trends within the Asankrangwa Gold Belt. These individual structural trends host gold-bearing quartz vein systems which release gold into the surface environment upon weathering. These gold trends have been intensely prospected by artisanal miners.

Abzu has an extensive and strategic land position in the Asankrangwa Gold Belt, a structural zone 8-10km wide in the center of the Kumasi Basin with numerous shears that host gold vein systems. Past production from these vein systems is in the order of 1Moz Au. Recently, Keegan Resources Inc. has announced a resource approximately 8 km northwest along strike from Abzu's U and N concessions. PMI Gold Corp. is developing resources at its Obotan project which lies approximately 8 km southwest of the Mpatasie-Golden Reef concessions. Abzu plans to implement surface work on this property in the coming months.

Abzu has embarked on an aggressive strategy to explore the Mpatasie and Golden Reef properties through a combination of soil and trench surface sampling and an aerial VTEM geophysical survey (completed). A trenching program is currently in progress with three crews active.

Abzu plans further surface programs for its other concession in the Asankrangwa, Ashanti and Kibi Belts.

About Abzu

Abzu is a gold exploration and development company working in Ghana, Africa's 2nd largest gold producer and host to some of the world's largest gold deposits. Ghana has strong land title laws and is one of the world's most mining-friendly jurisdictions. Abzu has invested several years developing local and national relationships, key to its strategic land position on over 360 square kilometres of highly sought after and productive gold belts.

Qualified Person and Quality Control/Quality Assurance

Professional geologist (AIPG cert. # 10821) Dr. Paul Klipfel, President and a Qualified Person as defined by National Instrument 43-101, has designed, planned, and supervised the work program at Mpatasie, Golden Reef, and Asafo and is responsible for all aspects of the work, including the quality control/quality assurance program. Samples are collected systematically and in a consistent manner. Sample bags are closed and sealed at the sample site and kept secure in the care of field crews until delivered to the ALS laboratory in Kumasi, Ghana for gold fire assay and ICP multi-element analyses. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by inclusion of field duplicates (1:50) and reference standards (1:20) into the sample stream. Dr. Klipfel is not independent of the Company as he is an officer and shareholder.

Mr. Georgi Magaranov, a consulting economic geologist employed by ET Geoart, is a Qualified Person as defined by National Instrument 43-101, has also been responsible for design and supervision onsite of the work program, including the QAQC program. Mr. Magaranov has over 17 years of exploration experience working for AngloAmerican plc, Rio Tinto Exploration, and other companies in a range of geographic locations in Africa, Asia, Europe, and South America for gold, copper and other types of mineral deposits Mr. Magaranov is independent of the Company.

Dr. Klipfel has a PhD in economic geology and more than 32 years of relevant experience as a mineral exploration geologist. He is a Certified Professional Geologist [CPG 10821] by the American Institute of Professional Geologists.

On behalf of the board of directors of


Allan Serwa, Chief Executive officer

This news release contains certain forward-looking statements, and such statements involve risks and uncertainties. The results or events predicted may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release. Except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results, or any other occurrence.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

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