Mr. Dave Anthony reports

ASANTE GOLD CLOSES PREVIOUSLY ANNOUNCED NON-BROKERED PRIVATE PLACEMENT

Asante Gold Corp. has closed its previously announced non-brokered private placement of common shares of the company pursuant to which the company issued 8,625,000 common shares at a price of $1.60 per common share for aggregate gross proceeds of $13.8-million.

The company intends to use the net proceeds of the offering for continued development and growth expenditures at the Bibiani and Chirano mines, and for general working capital purposes.

The common shares issued pursuant to the offering are subject to a four-month statutory hold period under applicable Canadian securities laws, expiring on May 31, 2026. The offering remains subject to the final acceptance of the TSX Venture Exchange.

This offering is considered to be a related-party transaction for the purposes of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the offering in reliance on sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the securities issued to the related party, nor the fair market value of the consideration for the securities issued to the related party exceeds 25 per cent of the company's market capitalization as calculated in accordance with MI 61-101.

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 TSX Venture Exchange, the Ghana Stock Exchange and the OTCQX Best Market. 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.

We seek Safe Harbor.