West Africa Gold Inc. Announces Forward Split of Its Stock Company to Forward Split Shares on a 1 for 10 Basis NEW YORK, May 7 /PRNewswire-FirstCall/ -- West Africa Gold Inc. (BULLETIN BOARD: WAGI) announced today that its Board of Directors has approved a 10-1 forward split of the Company's issued and outstanding shares. The forward split will be effective Monday May 10, 2004. The stock split will entitle each stockholder of record to receive nine additional shares for every share of the Company's stock held at the close of business on the record date of May 10, 2004. The new shares will be registered on the books of the Corporation maintained by Computershare Trust Company Inc at the opening of business on May 10, 2004. About West Africa Gold Inc: West Africa Gold Inc., http://www.westafricagold.com/, has acquired a 70% interest in the Toubikoto (Gold), Manianguiti (Gold), In Darset (Gold, Base Metals), Anefis (Gold, Base Metals) and Touban (Nickel, Copper PGE's) mining properties. The properties are located in diverse geographic locations throughout Mali. In aggregate, the properties total over 500 square kilometers (approximately 193 square miles). The Geological Resource Evaluation on the properties indicates a potential Inferred Geological Resource of at least 3,000,000 ounces of gold. The Company will continue to explore the various rights and potential new targets. About Mali, West Africa Mali is a landlocked country of 1,240,190 square kilometers (approximately 478,835 square miles), which is roughly, double the size of Texas, or five times the size of the United Kingdom. It borders on Algeria to the north, Niger and Burkina Faso to the east, Cote d'Ivoire and Guinea to the south, Senegal and Mauritania to the west. During 2001, Mali produced approximately 1.7 million ounces of gold at a cash cost less than US $160 per ounce. Mali is thought to have in excess of 350 tons of recoverable gold and is recognized as having enormous potential for further gold discoveries. Mali is currently the third largest Gold producer in Africa. Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties beyond the Company's control, including but not limited to economic, competitive and other factors affecting the Company's operations, management team effectiveness, expansion strategies, available financing, market prices and recovery costs, government regulations involving the Company, facts and events not known at the time of this release, and other factors discussed in the Company's filings with the Securities and Exchange Commission. These statements are not guarantees of future performance and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements. This release was issued through Major Newswire (http://www.majornewswire.com/) DATASOURCE: West Africa Gold Inc. CONTACT: Equity Alliance International, +1-858-459-3552, for West Africa Gold Inc. Web site: http://www.majornewswire.com/ Web site: http://www.westafricagold.com/

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