Effective May 2, 2013, Abzu Gold Ltd. announced the appointment of Mr. David Price as Chief Executive Officer of the company, who will be replacing Mr. Timothy McCutcheon who has resigned as a Director and the Chief Executive Officer of the company. In addition, Mr. Ross McDonald has resigned as the Chief Financial Officer of the company, and will be replaced by Mr. Wilson Soon. Mr. David Price is a seasoned and forward-thinking senior executive with more than 25 years of bankable experience in Project Finance and Funding, Investor Relations, M&A and major project execution and delivery experience, from concept to full commercial operation, of major resource development opportunities and utility grade power generation projects around the Globe. Currently, Mr. Price is Country Manager, Canada for Stonehouse Mining Group as well as Corporate Communications Manager for KazaX Minerals Inc., and is well-versed in mining resource development with significant strength in economic analysis and valuation, project finance, financial and economic modeling, mine design and operation management.

Abzu Gold Ltd. announced additional drill results from its current drilling program at Nangodi, Ghana. The company has now drilled nearly 5,000 metres of combined diamond-RC and will be completing the final holes of this program in the coming week. Highlight results from ten holes are now available and are posted in the table below. Drill holes continue to intersect quartz-carbonate+/-albite+/-minor sulfides in quartz-feldspar-porphyry rock and surrounding sedimentary rocks in target zones. Mineralization is strongest where host rocks are intersected by a major shear zone and related splays. The gold-endowed shear zone is traceable for many kilometres at the surface within the concession; the strike continuation of which 25km to the northeast hosts the Youga deposit in Burkina Faso. The current drill program is designed to provide drill hole spacing that supports resource estimation, as well as demonstrate continuity along strike and down dip of gold mineralization. Abzu's geologic staff together with consultants are modeling gold mineralization at Nangodi and its extent beyond areas of historic production from the 1930's vintage Nangodi mine. It is anticipated that historic drill results from AfricWest 1997 RC drilling, Abzu results from the 2011-2012 exploration program and this year's drilling program will provide the basis for a second quarter of 2013 resource estimate. As Abzu receives additional assay data, the company will release a map to give better context to the drill results announced this year.

Abzu Gold Ltd. announced the initial results from its ongoing drilling program at its Nangodi gold project in Northern Ghana. To date over 1,600 meters of the 5,000 meter program have been drilled in the ongoing drill program. Widespread alteration including quartz, albite, chlorite, carbonate, hematite, and minor sulphides have been encountered throughout all holes drilled to date and drilling is ongoing. Management expects to receive additional assay results in the near future and will publish the results accordingly. The drill program is designed to offer sufficient drill hole spacing for a resource estimation, as well as demonstrate the ore body's continuation along strike to the northeast and to depth. Abzu's geologists, together with its consultants, are modeling the Nangodi ore body utilizing historic results from AfricWest 1997 RC drilling, Abzu results from the 2011 - 2012 exploration program and this year's drilling program, the results of which will provide the basis for a second quarter of 2013 resource estimate as well as allow to build knowledge of the property and develop a stronger model for pre-feasibility work and to continue drilling for resource expansion.