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File: Asante_NR_31Dec15_PP closed.doc

      

ASANTE CLOSES $97,500 PRIVATE PLACEMENT 
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
FOR IMMEDIATE RELEASE
Vancouver, British Columbia - December 31, 2015 - Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9) (the "Company")  an
--->nounces that it has closed off subscriptions to the non-brokered private placement ("Placement") previously announced 
--->on September 4, 2015.
The Company will issue 650,000 units (the "Units") at a price of $0.15 per Unit for gross proceeds of $97,500. Each Un
--->it consists of one common share and one half of a transferable common share purchase warrant ("Warrant"). Each full wa
--->rrant will be exercisable into one common share of the Company at a price of $0.30 for a period of two (2) years, with
---> a provision that should the shares trade on the Canadian Stock Exchange (CSE) at $0.35 or higher for 20 consecutive t
--->rading days the warrant holder would have 30 days to exercise the warrant or they would expire. Proceeds from the Plac
--->ement will be used for general working capital purposes. No finder's fees or commissions are payable in respect to thi
--->s 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 co
--->nsidered 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 nei
--->ther the fair market value of the Units issued to them, or the consideration paid, exceeded 25% of the Company's marke
--->t capitalization.
"Douglas R. MacQuarrie"
President and CEO
About Asante Gold Corporation 
Asante Gold Corporation (CSE:ASE/FRANKFURT:1A9) is continuing to assess the Kubi Gold Mine Option as a high grade unde
--->rground, direct shipping and toll milling operation; and it is exploring the Betanase concession optioned from Perseus
---> Mining (Ghana) Limited and its 100% owned Fahiakoba concession, all located near the centre of Ghana's Golden Triangl
--->e.

For further information please contact: 
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: douglas@asantegold.com
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail:  d.kent@eastlink.ca
Kirsti Mattson, Media Relations, tel: +1 778-434-2241; E-mail: kirsti.mattson@gmail.com
Florian Riedl-Riedenstein, Director; E-mail:  frram@aon.net
Additional information is available on our web site at:  www.asantegold.com 
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy 
--->or accuracy of this release.