Mr. Dave Anthony reports

ASANTE ANNOUNCES APPOINTMENT OF CFO

Asante Gold Corp. has formally appointed David Wiens as chief financial officer. The company also wants to thank and recognize Dindiok Chialin, who has served as interim chief financial officer since early June, 2023. Mr. Chialin is the Asante Gold deputy chief financial officer.

Mr. Wiens is a seasoned mining executive with a 20-plus-year record of delivering results in progressive corporate and investment banking roles in Canada and the United Kingdom. Mr. Wiens spent most of the last 10 years in finance, corporate development and investor relations roles with gold and silver producers, including over six years at SSR Mining Inc., during its rapid growth to become a diversified mid-tier gold company, meeting production and cost guidance seven years in a row. He was most recently chief financial officer of Bunker Hill Mining Corp., where he delivered the innovative project financing of the mine restart, secured new strategic shareholders, uplisted and grew the company alongside a team of ex-Barrick executives. Previously, he was a mining investment banker at a number of financial institutions, including Deutsche Bank AG in London, U.K. Mr. Wiens holds a bachelor of commerce from the University of British Columbia in Canada and is a CFA charterholder.

Dave Anthony, chief executive officer of Asante, stated: "We are very pleased to welcome David Wiens to the Asante team. David's skill set, experience and leadership are well suited to supporting Asante in its immediate and long-term growth plans. We would also like to thank Dindiok Chialin for his excellent work during this transition period."

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 290,000 ounces of gold for 2023. Several initiatives are progressing, so that the company plans to reach 400,000 ounces production in 2024 and 550,000 ounces per year from 2026. The company continues with detailed technical studies at its Kubi gold project leading to 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.

About the Bibiani gold mine

Bibiani is an operating open-pit gold mine situated in the western north region of Ghana, with previous gold production of more than 4.5 million ounces. It is fully permitted with available mining and processing infrastructure on-site consisting of a newly refurbished three-million-tonne-per-annum process plant and existing mining infrastructure. Mining commenced in late February, 2022, with the first gold pour announced on July 7, 2022. Commercial production was announced Nov. 10, 2022.

For additional information relating to the mineral resource and mineral reserve estimates for the Bibiani gold mine, please refer to Asante's news releases dated July 18, 2022, and Sept. 1, 2022, and the technical report filed on the company's SEDAR profile on Sept. 1, 2022.

About the Chirano gold mine

Chirano is an operating open-pit and underground mine located in the western region of Ghana, immediately south of the company's Bibiani gold mine. Chirano was first explored and developed in 1996, and began production in October, 2005. The 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.

For additional information relating to the mineral resource and mineral reserve estimates for the Chirano gold mine, please refer to Asante's news releases dated Oct. 15, 2022, and May 15, 2023, and the technical reports filed on the company's SEDAR profile.

Qualified person statement

The scientific and technical information contained in this news release has been reviewed and approved by Dave Anthony, PEng, mining and mineral processing, president and CEO of Asante Gold, who is a qualified person under National Instrument 43-101.

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