Asante Gold to Commence Trading on the Ghana Stock Exchange - Seite 2

Asante is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and quoted on 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.

About the Bibiani Gold Mine

The Bibiani Gold Mine is a historically significant Ghanaian gold mine situated in the Western North region of Ghana. Bibiani has previous production of +4Moz, is fully permitted with available mining and processing infrastructure on site consisting of a 3 million tonne per annum mill and processing plant.

The Current Mineral Resource Estimate for Bibiani, effective as of November 7, 2021, as set out in the Technical Report titled “Technical Report on the Bibiani Gold Mine, Ghana”, prepared by Ian M. Glacken (FAusIMM (CP), FAIG, CEng) of Optiro Pty Limited and assisted by Dan Bansah (MSc, MAusIMM (CP), FWAIMM, MGIG) of Minecon Resources and Services Ltd. as Qualified Person and filed on SEDAR, is Measured and Indicated for the Bibiani main pit and the Satellite pits at 20.8 million tonnes at 2.71 grams of gold per tonne for 1.81 Moz of gold; and Inferred 8.41 million tonnes at 2.78 grams of gold per tonne for 0.753 Moz of gold. The Mineral Resource has been reported above a 0.65 g/t gold cut-off and has been depleted for both historical open pit and underground development as of August 31, 2017. The Technical Report was prepared using accepted industry practices in accordance with the JORC Code (JORC, 2012). There are no material differences between the definitions of Measured, Indicated and Inferred Mineral Resources under the CIM Definition Standards and the equivalent definitions in the JORC Code. The Satellite pit resource is an update completed in 2018 by Resolute Mining Limited, the former owner of the Bibiani Gold Mine. The Satellite pit resource is also reported above a cut-off grade of 0.65 g/t gold inside a pit shell defined at a gold price of US$1,950. Mineral resources that are not mineral reserves do not have demonstrated economic viability.