Asante Gold Corporation Provides Status Update on Management Cease Trade Order

VANCOUVER, British Columbia, May 16, 2023 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) ("Asante" or the "Company") today provided its first bi-weekly status update in connection with a management cease trade order (“MCTO”) granted by the British Columbia Securities Commission. Asante confirms there have been no material changes to the information provided in its May 3, 2023 news release.

Pursuant to the MCTO, the Company has until June 30, 2023 to file its annual financial statements, and related CEO and CFO certifications, for the years ended January 31, 2023 and January 31, 2022 and its annual information form for the year ended January 31, 2023 (collectively, the "Annual Filings").
The Company expects to complete the Annual Filings by no later than May 31, 2023.

The MCTO prohibits trading in securities of the Company by the chief executive officer and the chief financial officer of the Company, whether direct or indirect, until its Annual Filings are completed. Other shareholders may continue to trade the Company’s securities during this period.

The Company intends to continue providing bi-weekly status reports in the form of news releases until the Annual Filings are completed.

About Asante Gold Corporation

Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines with combined forecast production of approximately 400,000 ounces of gold for 2023. The Company continues with detailed technical studies at its Kubi Gold Project for early production. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle. Additional information is available on the Company’s website at www.asantegold.com.