Mr. Tim McCutcheon reports

ASHANTI GOLD EXPANDS GOURBASSI EAST GOLD ZONE, KOSSANTO EAST PROJECT, MALI

Ashanti Gold Corp. has released results for the final eight drill holes from the recently completed 53-reverse-circulation-hole, 6,073-metre drill program that tested mineralization on the Kossanto East project in western Mali. These results complete the company's reporting of drill results for its recent Kossanto East drill program.

Results from drill hole GERC150 and GERC151 reveal the presence of another mineralized zone parallel to the main zone. The extent of this mineralization remains to be tested.

• 20 metres of 1.00 gram per tonne gold including five metres of 2.00 g/t Au (GERC146);
• Seven metres of 1.52 g/t Au including two metres of 3.53 g/t Au (GERC150);
• Eight metres of 1.65 g/t Au (GERC151).

The set of results reported here represent drill holes that were intentionally positioned to test lateral, strike and depth extensions of mineralization. Importantly, holes 150 and 151 show mineralized intersections along over 100 metres of a new strand of mineralization about 80 metres east of and parallel to the known main mineralized zone. The strike and dip extent of all areas of mineralization remain open at Gourbassi East. In addition, the presence of gold mineralization in numerous targets to the northeast presents new opportunities for expanding the global gold content for the project.

Tim McCutcheon, chief executive officer, said, "It is impressive that the drill results from our first drilling campaign at both Gourbassi East and Gourbassi West demonstrate opportunity to expand the strike, width and dip extents of mineralization at these two key targets which both exceed one kilometre in length and are locally up to more than 100 metres in width."

 
 
     HIGHLIGHTS OF GOLD INTERCEPTS GERC146 TO GERC153
 
Hole        From (m)   To (m)   Interval (m)*     Au (g/t) 

GERC146          95       103              8          0.76     
                111       131             20          1.00     
incl.           117       122              5          2.00     
                                                          
GERC147   no significant intercepts                    
                                                         
GERC148         117       119              2          0.76     
                126       129              3          1.01     
                139       140              1          2.89     
                150       153              3          0.95     
                                                         
GERC149   no significant intercepts                    
                                                         
GERC150          63        70              7          1.52     
incl.            65        67              2          3.53     
                 81        98             17          0.44     
                                                         
GERC151           5        13              8          1.65     
                 53        55              2          3.74     
                 72        82             10          0.71     
incl.            77        78              1          3.74     
                                                         
GERC152           1         3              2          0.32     
                 49        50              1          0.88     
                 63        65              2          0.27     
                                                         
GERC153           0         2              2          0.34     
                 33        34              1          0.38     
                 52        59              7          1.37     
                 90        91              2          0.25     
                                                         
*The company advises that drill holes are oriented to intersect
 stratigraphy at an optimal angle, however true widths cannot be
 determined as detailed information on the true orientation of 
 stratigraphy at the point of intersection of the drill hole is 
 not available. Quality control is monitored by the insertion of 
 blind certified standard reference material and blanks at a rate
 of one per 20 samples. Blind duplicate splits are inserted into the 
 sample stream at the rate of one per 50 samples. In addition, the 
 laboratory inserts its own certified standard and blank 
 samples at the rate of one per 20 samples. All samples have been analyzed
 by SGS Laboratories in Bamako, Mali, an internationally known 
 testing company.

About Kossanto East project

The Kossanto East project is a 66.41-square-kilometre concession in the prolific Kedougou -- Kenieba Inlier, the northwestern-most exposure of Birimian rocks in West Africa and host to the Loulo and Sadiola group of world-class gold deposits. The property hosts two principal historically drill-tested targets, Gourbassi East and Gourbassi West, and several surface anomalies identified in historic surface samples and rotary airblast drill holes. Geochemical anomalies identified by previous explorers and Alecto Minerals PLC led to drill testing and successful intersection of gold mineralization.

About Ashanti Gold Corp.

Ashanti is a gold-focused, exploration and development company with advanced projects in the northern Ashanti belt of Ghana and the Kenieba belt of Mali. The company targets projects where existing work demonstrates attractive potential for near-term mine development and where it has a competitive advantage due to past work experience of the team and specific project know-how.

We seek Safe Harbor.