Mr. Dave Anthony reports

ASANTE ANNOUNCES RECEIPT OF $125M SENIOR DEBT SECOND UTILIZATION AND COMPLETION OF $500M FINANCING PACKAGE

Further to Asante Gold Corp.'s news release dated Aug. 11, 2025, announcing the execution of definitive agreements relating to an approximately $500-million financing package, the company has completed and received the net proceeds from a $125-million second utilization under its $150-million senior debt facility. As previously announced, a $5-million first utilization under the senior debt facility was completed on Aug. 14, 2025. The company is also pleased to announce the full availability of the revolving credit facility in the amount of $20-million under the senior debt facility. All amounts are in United States dollars unless otherwise indicated.

As a result, the company has now completed its $500-million financing package. For more information on the financing package, including a summary of the terms of the senior debt facility, please refer to the company's news release dated Aug. 11, 2025.

"Closing this financing is transformative for Asante," said Dave Anthony, president and chief executive officer. "With $500-million in capital secured, we are well positioned to execute on our growth plans for Bibiani and Chirano, targeting annual gold production over 500,000 ounces by 2028 at significantly lower all-in sustaining costs. We remain focused on disciplined execution and delivering results for shareholders as these funds are deployed immediately."

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 for general working capital purposes.

Price protection program

To satisfy the conditions precedent to full availability of the senior debt facility, the company has completed a price protection program encompassing (i) a short-term forward sale of gold, and (ii) the purchase of deferred premium puts that provide downside price protection over the medium term.

In order to protect margins over the critical operational ramp-up period of the next eight months, the company has entered into swap transactions for approximately 154,000 ounces (oz) of gold between September, 2025, to April, 2026. Under these transactions, the company will in effect receive an average price of $3,386 per ounce for a portion of its gold production through this period, ranging from approximately 13,000 oz to 23,000 oz per month.

In addition, the company has purchased deferred premium puts for the potential sale of gold of up to approximately 395,000 oz between May, 2026, and January, 2028, inclusive, with strike prices ranging between $3,000 and $3,100 per oz. This price protection will only be utilized in the event of a decline in gold prices below these levels. In this manner, the company remains fully unhedged to increases in the gold price, while ensuring the right (but not the obligation) to sell gold.

The company's price protection program was executed with RMB pursuant to previously established credit lines. Obligations thereto will benefit from the common security package as outlined in the company's news release dated Aug. 11, 2025.

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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