Asante Gold Announces Receipt of Forest Entry Permit, Infill Drilling and Deep Sensing EM Survey at Kubi

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the "Company") announces that the Government of Ghana has granted the Company a Forest Access permit which covers all forest areas within our Kubi mining lease. A resource infill drilling and deep resource expansion exploration program has commenced.

The objective of the drill program, of up to 7,000m of RC and diamond drilling, is to fill in gaps in the current ^*Kubi Main Zone NI 43-101 resource model. In particular to extend the mineralization to depth guided by the results of a deep sensing ground EM electromagnetic survey. Close spaced drilling is also planned to further evaluate near surface oxide resources. Based on successful results, an updated resource model will be prepared.

The current exploration model suggests that the Kubi Main Zone gold mineralization plunges near -vertical to more than 3km in depth within the Kubi shear zone, a part of the 300km long and highly mineralized Ashanti Shear Zone (see video HERE).

The highest gold grade noted in recent drilling, 1m of 19.7 g/t Au, is associated with highly magnetic and electrically conductive mineralization. For further information please see a close up of the sulfide mineralization HERE and our March 22, 2021 press release HERE.

"Douglas R. MacQuarrie"

President and CEO

^*The Kubi Main Zone has a current NI 43-101 mineral resource estimate, completed by SEMS Exploration Services Ltd. of Accra, Ghana: Measured Resources 0.66 million tonnes @ 5.30g/t for 112,000 ounces; Indicated Resources 0.66 million tonnes @ 5.65g/t for 121,000 ounces; and Inferred Resources 0.67 million tonnes @ 5.31g/t for 115,000 ounces, which is filed on SEDAR. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Qualified Person
Scientific and technical information contained in this news release has been reviewed and approved by Douglas R. MacQuarrie, P.Geo. (B.C.) Geology & Geophysics, the President and CEO of the Company, who is a “qualified person” under NI 43-101.

About Asante Gold Corporation
Asante has announced plans to co-list its shares on the Ghana Stock Exchange, and is sourcing funding to develop its Kubi Gold Mine project to production. Asante is also exploring its Keyhole Project, Fahiakoba and Betenase concessions/options 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 our web site at: www.asantegold.com