Asanko Gold Announces Q3 2017 Production Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 19, 2017) -

Q3 2017 Highlights:

• Quarterly gold production of 49,293 ounces and gold sales of 50,241 ounces, on track to meet 2017 revised production guidance of 205 – 225,000 ounces
  
• US$63.6 million in gold revenue at an average realized price of US$1,265 per ounce
  
• Nkran reconciliation confirming the Mineral Resource and Reserve Estimates
  
• Industry-leading safety record maintained with a rolling 12 month LTIFR of 0.19
  
• Stable balance sheet with unaudited cash and immediately convertible working capital balances of approximately US$64.3 million (September 30, 2017)
  
  

Asanko Gold Inc. ("Asanko" or the "Company") (TSX:AKG)(NYSE American:AKG)(NYSE MKT:AKG) announces production results for the third quarter of 2017 ("Q3") from the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. Q3 operating and financial results will be published on November 3, 2017, conference call and webcast details below.

Commenting on the quarter Peter Breese, President and CEO, said "Overall, our quarterly production performance for Q3 was very encouraging, with positive results in a number of key areas: reconciliations confirming the Nkran resource model, management of ore losses and dilution and the plant achieving milling rates in excess of 13,500 tonnes on a per day campaign basis.

Although July and August production was impacted by the three mill motor outages, which equated to in excess of 5,000 ounces of lost gold production, the quarter still produced a very respectable 49,293 ounces. Looking ahead to the final quarter of the year, we maintain our revised guidance of 205,000 - 225,000 ounces."

Health and Safety

There were no lost time injuries ("LTI") reported during the quarter and the 12-month rolling lost time injury frequency rate ("LTIFR") per million man hours worked is 0.19.

Production

At Nkran, the deployment of blast monitoring technology to minimize ore losses and dilution has been yielding positive results. During Q3 mining operations extracted ore from multiple zones of mineralization with an average mining grade of 1.8 g/t.

At the Akwasiso satellite deposit, mining operations delivered approximately 20,000tpm of oxide ore.

At Dynamite Hill, the second satellite pit to be bought into production, site establishment commenced during the quarter in preparation of ore mining operations in Q4 2017.