Mr. Dave Anthony reports

ASANTE GOLD REPORTS HIGHER MINERAL RESOURCES IN AMENDED CHIRANO GOLD MINE TECHNICAL REPORT

Asante Gold Corp. has filed an amended technical report entitled "Amended NI 43-101 Technical Report, Chirano Gold Mine, Ghana, West Africa" in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects in connection with the company's Chirano gold project, located immediately south of the company's Bibiani gold mine.

The original version of the technical report, dated Sept. 30, 2022, and prepared by dMb Management Services, Bara Consulting Pty. Ltd., Snowden Optiro and GB Independent Consulting Pty. Ltd., reported mineral resources as being inclusive of mineral reserves. The correction requires that mineral reserves were in fact exclusive and therefore all measured and indicated resources and mineral reserve totals may be added to determine the total Chirano mineral resources. There are no changes to any material conclusions or recommendations outlined in the original technical report. A copy of the amended technical report is available on SEDAR under Asante's issuer profile.

The amended technical report therefore results in an increase in total measured and indicated mineral resources from 1.13 Moz (million ounces) to 2.12 Moz broken down as follows:

• underground measured and indicated mineral resources of 11.05 Mt (million tonnes) at 1.88 grams per tonne Au (669,000 oz) exclusive of any mineral reserves;
• Open-pit measured and indicated mineral resources of 17.05 Mt at 0.85 g/t Au (465,000 oz) exclusive of any mineral reserves;
• Mine mineral reserves of 15.76 Mt at 1.95 g/t Au (990,000 oz).

Chirano consists of a multideposit complex with 11 mineralized deposits currently making up the mineral resources contained in the technical report. The Chirano gold deposits have been historically mined from both open-pit and underground operations since 2005. The mineral resources for the Chirano underground and Chirano open pits are constrained by resource optimized shapes and shells based on a $1,600 (U.S.) gold price.

All technical information contained in this news release in respect of Chirano is qualified in its entirety by the complete text of the amended technical report, including all qualifications, assumptions, exclusions and risks provided therein. The amended technical report is intended to be read as a whole and sections should not be read or relied upon out of context.

Qualified persons statement

The scientific and technical information contained in this news release in respect of Chirano has been reviewed and approved by the qualified persons (as defined under NI 43-101) and authors of the amended technical report, David Michael Begg of dMb Management Services, Dominic Claridge of Bara Consulting (U.K.), Glen Bezuidenhout of GB Independent Consulting and Senzeni Mandava of Snowden Optiro (South Africa). None of the qualified persons hold any interest in Asante, its associated parties or in any of the mineral properties which are the subject of this news release.

Other scientific and technical information contained in this news release has been reviewed and approved by David Anthony, PEng (Alberta and Ontario), mining and metallurgy, president and chief executive officer of Asante, who is a qualified person under NI 43-101.

About Asante Gold Corp.

Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano gold mines with combined forecast production of approximately 400,000 ounces of gold for 2023. The company continues with detailed technical studies at its Kubi gold project for early production. All mines and exploration projects are located on the prolific Bibiani and Ashanti gold belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. 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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