Mr. Dave Anthony reports

ASANTE ANNOUNCES START OF BIBIANI SULPHIDE PLANT OPERATION

Asante Gold Corp. has provided an update on progress made on its sulphide plant at the Bibiani gold mine in the Republic of Ghana.

Recent highlights:

• Health and safety -- lost-time incident frequency rate of 0.00 and total recordable incident frequency rate of 0.00 for year to date 2025;
• Project cost -- total spent to date of $32-million (U.S.) versus $32-million (U.S.) budgeted (pretax);
• Status -- construction and commissioning are complete;
• 12-hour-per-day operation to process Bibiani ore started on Sept. 27, 2025;
• 24-hour-per-day operation expected to start on Sept. 30, 2025, and optimization to achieve greater-than-85-per-cent gold recovery will progress through October, 2025;
• Bibiani LOM (life-of-mine) gold recovery -- increase from 60 per cent to 92 per cent is expected to be reached in late October, 2025;
• Project nameplate -- four million tonnes per year.

"This is a year of executing our strategic plan to allocate significant capital to our mining and processing operations at both Bibiani and Chirano. With the finances now in hand, we expect to grow long-term gold production to 450,000 to 500,000 ounces of gold per year," stated Dave Anthony, president and chief executive officer. "With construction and commissioning of the Bibiani sulphide treatment plant complete, we are focused on the next phase, which moves the plant into operation, ramp-up, testing and optimization to achieve 92-per-cent recovery and enhance Bibiani's growth profile."

Sulphide plant update

Construction on the Bibiani sulphide plant first began in Q4 2024. The objective of this facility is to liberate and recover the gold that occurs within sulphide mineralization. For the ore at Bibiani that is below 110 metres depth, approximately 30 per cent of the gold occurs within sulphide mineralization and measures 35 microns.

The process flow sheet for the sulphide plant includes flotation, regrind of flotation concentrate to 25 microns, and use of Aachen reactor technology to provide elevated oxygen levels in the high-intensity leach and carbon in pulp (CIP) for gold recovery. The flotation tailings and sulphide treatment plant tailings return to the carbon-in-leach (CIL) plant for further treatment. This process is expected to increase gold recovery significantly, from 60 per cent to 92 per cent, keeping in line with the Bibiani technical report published in April, 2024.

The sulphide treatment plant commenced 12-hour-per-day operations on Sept. 27, 2025. The company expects to move to a 24-hour-per-day operation on Sept. 30, 2025. Optimization will proceed during October and 92-per-cent recovery is expected to be reached in late October, 2025.

Key supply partners

Process test work on the Bibiani sulphide plant was completed by ALS (Australia), with principal process equipment suppliers being FlSmidth (United States), MO (Europe) Group and Maelgywn (South Africa). Project design was conducted by Mining Process Project Engineering (MiningPro -- Ghana Ltd.) and project management by Jet-Rom Engineering (Ghana).

Earnings webcast replay

A replay of the webcast conference call for the quarter ended July 31, 2025, is now available on the Asante website.

Qualified person statement

The scientific and technical information contained in this news release has been reviewed and approved by David Anthony, PEng, mining and mineral processing, president and chief executive officer of Asante, who is a qualified person under National Instrument 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 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, 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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