Mr. Dave Anthony reports

ASANTE ANNOUNCES UPDATE REGARDING ACQUISITION OF THE CHIRANO GOLD MINE

Asante Gold Corp. is saying that the closing of its previously announced acquisition of the Chirano gold mine has been temporarily delayed, pending resolution of certain outstanding administrative matters. Following resolution and completion of such matters, the company expects to proceed to closing of the Chirano acquisition. All material terms of the Chirano acquisition remain the same.

About the Chirano gold mine

The Chirano gold mine is an operating open-pit and underground mining operation located in southwestern Ghana, immediately south of the company's Bibiani gold mine. The Chirano gold mine was first explored and developed in 1996 and began production in October, 2005. The Chirano gold mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits, and the Akwaaba and Paboase underground mines.

About Asante Gold Corp.

Asante is a gold exploration, project development and operations company with a high-quality portfolio of projects in Ghana, Africa's largest and most reliable gold producer. Asante is currently focused on completing the purchase of the Chirano gold mine previously announced on April 25, 2022, and developing to production its Bibiani and Kubi gold mines, located on the prolific Bibiani and Ashanti gold belts. Asante has an experienced and skilled team of mine finders, builders and operators. Asante is listed on the Canadian Securities Exchange and Frankfurt Stock Exchange, and has announced plans to co-list its shares in Ghana. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana's Golden Triangle.

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