Mr. Douglas MacQuarrie reports

ASANTE GOLD CLOSES $97,500 PRIVATE PLACEMENT

Asante Gold Corp. has closed off subscriptions to the non-brokered private placement previously announced on Sept. 4, 2015.

The company will issue 650,000 units at a price of 15 cents per unit for gross proceeds of $97,500. Each unit consists of one common share and one-half of a transferable common share purchase warrant. Each full warrant will be exercisable into one common share of the company at a price of 30 cents for a period of two years with a provision that, should the shares trade on the Canadian Stock Exchange at 35 cents or higher for 20 consecutive trading days, the warrantholder would have 30 days to exercise the warrant or they would expire. Proceeds from the placement will be used for general working capital purposes. No finder's fees or commissions are payable in respect to this placement. The shares and warrants to be issued are subject to a four-month hold period.

Directors, officers and insiders of the company, acquired 650,000 units under the placement. Their participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101 in special transactions. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units issued to them, or the consideration paid, exceeded 25 per cent of the company's market capitalization.