Mr. Dave Anthony reports

ASANTE ANNOUNCES RECEIPT OF NET PROCEEDS FROM $125M MEZZANINE, $50M STREAM, $10M NON-BROKERED PRIVATE PLACEMENT FINANCINGS, $5M SENIOR DEBT FIRST UTILIZATION

Further to the news release dated Aug. 11, 2025, announcing the execution of definitive agreements relating to an approximately $500-million financing package, Asante Gold Corp. has closed and received the net proceeds from the subordinated debt facility in the gross amount of $125-million, the gold stream financing in the gross amount of $50-million and the non-brokered private placement of common shares in the capital of the company to certain funds advised by Appian Capital Advisory Ltd. for gross proceeds of $10-million. All amounts are in U.S. dollars unless otherwise indicated.

Pursuant to the non-brokered private placement, the company issued 9,484,828 common shares to Appian at a price equal to the U.S.-dollar equivalent of $1.45 (Canadian) per common share for aggregate gross proceeds to the company of $10-million. The common shares issued to Appian are subject to a statutory four-month hold period pursuant to applicable Canadian securities laws, which will expire on Dec. 14, 2025.

In addition, the company has completed a $5-million first utilization of the previously announced senior debt facility of $150-million. Together with the net proceeds from the previously announced brokered private placement of subscription receipts (including the $53-million payment to Kinross Gold Corp. announced on Aug. 12, 2025) and the net proceeds from the mezzanine facility, gold stream and non-brokered private placement financings noted above, the first stage of financing of approximately $350-million under the financing package has been completed.

Further to the company's news release dated Aug. 11, 2025, a second utilization and the full availability of the remaining $145-million capacity under the senior debt facility is anticipated to close by the end of August, 2025.

For additional information in respect of the financing package, including a summary of the terms of the senior debt facility, the mezzanine facility and the gold stream, please refer to the company's news release dated Aug. 11, 2025.

The company intends to use the net proceeds of the financing package for development and growth expenditures at the Bibiani and Chirano mines, a cash payment to Kinross, which was satisfied on Aug. 12, 2025, the retirement of short-term liabilities, and general working capital purposes.

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, and continues with detailed technical studies at its Kubi gold project. 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 and the Ghana 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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