Asante announces start of mining at Russel Starter Pit in Bibiani Gold Mine Page 1

VANCOUVER, British Columbia, September 19, 2024 (GLOBE NEWSWIRE) — Asante Gold Corporation (CSE: ASE | GSE:ASG | FRANKFURT:1A9 | USOTC:ASGOF) (“Asante” or the “Company”) is pleased to announce that, following receipt of all necessary permits from the Ghanaian authorities, the delivery of the first mineralized material from the Russel Starter Pit to the Process Plant at the Bibiani Gold Mine has been completed. The Russel Deposit, located 3.8 kilometers from the Bibiani Process Plant, contains 119,000 ounces of Measured and Indicated gold resources (open pit) grading 1.80 grams per tonne*, with a mineralogy similar to the Bibiani Main Pit.

“This is the third satellite well that Asante has explored, defined and optimised since acquiring the Bibiani properties, and the start of production at Russel represents another successful milestone on our journey to grow Asante’s production to over 500,000 ounces by 2028,” said Dave Anthony, President and CEO, who added: “Approval for mining at Russel follows other key catalysts including the diversion of the Bibiani-Goaso highway, which will provide us with access to additional oxide mineralised material, and continued progress on the construction of the Bibiani sulphide treatment plant. Once fully scaled up, Bibiani-Chirano will be the seventh largest gold producing district in Africa and the only Tier One Gold District in Africa not owned by a major gold producer.”