Algold Resources Ltd. announced an updated mineral Resource Estimate, prepared in accordance with the reporting guidelines as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") as required by the Canadian Securities Administrators, for its Tijirit Property ("Tijirit" or "the Property") in Mauritania. The 100%-owned Tijirit Mine Lease, which encompasses an area of more than 300 km2, is situated approximately 25 kilometers southeast of Kinross' Tasiast gold mine. Mineral resources were estimated as at January 19, 2018. Highlights: Eleonore resources increased from 357,920 ounces of gold at an average grade of 4.18 g/t Au in the inferred category to indicated resources of 94,250 ounces of gold at an average grade of 4.08 g/t Au and 394,690 ounces of gold in the inferred category at an average grade of 4.07 g/t Au. The updated NI 43-101 Resource Estimate is based on results of Algold's successful exploration program, which included more than 50,000 meters of drilling from June 2016 to August 2017, and was prepared only nine months after reporting resources from an initial phase of 23,000 meters of drilling. The overall high-grade nature of the Eleonore deposit allows for various cut-off grade parameters to be applied, thus allowing Algold to choose between various potential mining scenarios as future drilling provides better definition of width, depth and strike extension. Eleonore Zone: Algold's base case using a cut-off grade ("COG") of 1.5 g/t Au, without pit constraints, includes 94,250 ounces of gold at an average grade of 4.08 g/t Au in the indicated category and 394,690 ounces of gold at an average grade of 4.07 g/t Au in the inferred category. An alternate case, with a pit constrained COG of 1.0 g/t Au and 1.7 g/t Au COG under pits, includes indicated resources of 102,200 ounces of gold at an average grade of 3.45 g/t Au and inferred resources of 422,900 ounces of gold at an average grade of 3.49 g/t Au, (within a 0.4 g/t Au Whittle pit constraint). Lily and Sophie Zones: The base case using a pit constrained COG of 0.4 g/t Au and 1.7 g/t Au under pits, includes measured and indicated resources of 75,200 ounces of gold at an average grade of 0.94 g/t Au and inferred resources of 254,100 ounces of gold at an average grade of 1.06 g/t Au. The alternate case, with a COG of 1.5 g/t Au without pit constraints, includes measured and indicated resources of 22,410 ounces of gold at an average grade of 2.24 g/t Au and inferred resources of 112,820 ounces of gold at an average grade of 2.26 g/t Au. The updated report takes into consideration 80,954 meters of reverse-circulation ("RC") drilling and 14,704 meters of core drilling, approximately half of which were carried out on the Eleonore zone. The base case resources by zone are shown in the following tables, at cut-off grades of 0.4 g/t Au COG in pits and 1.7 g/t Au COG under pits, with the exception of the Eleonore zone estimated using a global cut-off grade of 1.5 g/t Au. Alternate scenarios are presented at 1.5 g/t Au and 2.0 g/t Au COG without the use of pit constraints.