Mr. Tim McCutcheon reports

IMPORTANT NEW GOLD ZONES IDENTIFIED AT ANUMSO, GHANA

Ashanti Gold Corp. has received very encouraging results from its recent soil-sampling program on the Anumso project in Ghana.

Figures associated with this news release are available on-line.

Results from 1,797 soil geochemical samples designed to test for gold mineralization along gold-bearing Banket conglomerate stratigraphy have identified two zones, each in excess of one kilometre in strike length and up to 240 metres wide, of significant gold anomalism. These zones are completely untested by drilling. In addition, both the East and West Banket reefs display multiple lines of mineralization rather than a single line of conglomerate as previously understood. "This is a very exciting result for Ashanti as it reveals extensive new lines of mineralization to test," stated Paul Klipfel PhD, the company's chief operating officer and chief geologist.

These results show significant anomalism in zones that are untested by existing drill holes. Ashanti staff are currently examining these areas to determine geologic controls on mineralization. A trenching program will commence in February.

                                                           
                    STATISTICS ON 1,797 SOIL SAMPLES 
                                  
Range      Number of samples   % of total samples               Comments  
(g/t Au) 
         
> 0.2                     42                  2.3       Highly anomalous    
0.10-0.20                 58                  3.2                                   
0.075-0.10                38                  2.1   Moderately anomalous
0.05-0.075               112                  6.2                                   
0.03-0.05                180                 10.0                                  
0.02-0.03                243                 13.5       Mildly anomalous    
0.01-0.02                725                 40.3                                  
< 0.01                   399                 22.2                                  
                                                                   

A National Instrument 43-101 report on Anumso is available on SEDAR and on Ashanti's website. The Anumso gold project is a 29.63-square-kilometre mining lease within two blocks that cover well-known auriferous Tarkwaian Banket strata within the highly productive Ashanti belt of Ghana. The colonial-era Ntronang mine, seven km to the east of Anumso, lies along laterally continuous strata and is the only location outside of the famous Tarkwaian gold deposits in the southern Ashanti belt where gold has been produced. In addition, since colonial times, artisanal miners have been engaged in producing gold from within the Anumso mining lease. These host rocks are known in the southern Ashanti belt for gold produced from the Iduapriem and Teberebie mines of AngloGold Ashanti and the Tarkwa and Demang mines currently in production by Gold Fields Ltd. Gold in these rocks is considered genetically similar to that in the conglomerate-hosted gold deposits of the approximately 2.8-billion-year-old Witwatersrand deposits of South Africa, except these rocks are younger, being approximately 2.11 billion years old.

About Ashanti Gold Corp.

Ashanti is a gold-focused exploration and development company that targets projects where it has a competitive advantage due to past work experience of the team and specific project know-how. The company is driving forward its 100-per-cent-owned Kossanto East project in Mali on the prolific Kenieba belt of Mali, which hosts such deposits as Loulo, Fekola and Sadiola. Ashanti is also working to advance, together with its earn-in partners, the Anumso project and the Ashanti belt project in Ghana, which are near adjacent to the Akyem deposit.

Qualified person and historical data

Dr. Klipfel, CPG (AIPG certification No. 10821), Ashanti's chief operating officer and chief geologist, is a qualified person as defined by Canadian National Instrument 43-101 and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Dr. Klipfel is responsible for all aspects of the work, including the quality control/quality assurance programs. Dr. Klipfel is not an independent qualified person, as he is a shareholder of Ashanti. Historic data presented have been generated by historic explorers. The company has endeavoured to check these data through resurvey of collars and check samples, but has not completed thorough, independent verification of historic data, and readers are cautioned not to place undue reliance thereon.

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