Nov 27 (Reuters) - African Gold Ltd A1G.AX :
* AFRICAN GOLD TO ACQUIRE HIGH GRADE BROWNFIELDS GOLD PROJECT
* ENTERED INTO OPTION AGREEMENT TO ACQUIRE 80% OF KOUROUFABA GOLD
* AS DEAL CONSIDERATION, CO TO PAY $200,000 UPON COMPLETION OF DUE DILIGENCE, ISSUE 4 MILLION CO SHARES TO VENDORS ON PRO-RATA BASIS
* IN CONJUNCTION WITH PURCHASE, CO INTENDS TO UNDERTAKE TWO TRANCHE PLACEMENT TO RAISE UP TO $1.7 MILLION VIA ISSUE OF UP TO 17 MILLION SHARES