Mr. Alex Heath reports

ASANTE GOLD ANNOUNCES APPOINTMENT OF CHIEF OPERATING OFFICER AND MANAGEMENT AND BOARD CHANGES

Asante Gold Corp. has appointed Campbell Baird as chief operating officer of the company, together with making management and board changes, as part of a continuing leadership transition designed to support the company's next phase of operational growth.

Appointment of chief operating officer

The board of directors is pleased to announce the appointment of Mr. Baird as chief operating officer of Asante, effective immediately.

Mr. Baird is a mining executive with more than 30 years of international operational and technical experience across exploration, development and production environments. He has held senior executive and operational roles across Africa, Australia and North America, and brings significant experience in operational improvement, project execution and technical leadership.

Mr. Baird joins the company at an important stage in its development as Asante continues to advance operational performance at both the Bibiani and Chirano gold mines. In his role as chief operating officer, Mr. Baird will focus on strengthening operational execution, improving production efficiencies and driving operational excellence as both operations continue their ramp-up toward planned production levels.

Malik Easah, executive chairman of Asante, stated: "Campbell brings deep operational experience and a strong track record of delivering improvements across complex mining operations. His appointment strengthens Asante's operational leadership at a critical time as we continue to focus on execution, efficiency and long-term value creation."

Advisory roles

The company also announces that Michele Muscillo and Kevin Tomlinson have been retained as advisers to the company with immediate effect.

Mr. Muscillo is a partner at HopgoodGanim Lawyers, and brings extensive experience advising public companies on corporate governance, capital market and cross-border transactions. He is also an experienced company director in the resource sector, having sat on the board of a number of Australian Securities Exchange- and Toronto Stock Exchange-listed companies across exploration, development and mineral production including Orbis Gold Ltd., Cardinal Resources Ltd. and Xanadu Mines Ltd. Amongst other roles, he is currently non-executive director of ASX-listed copper and gold producer Aeris Resources Ltd.

Mr. Tomlinson has more than four decades experience in exploration, discovery, resource growth, mine development and financing of mining projects globally. He has played leading roles in numerous successful mergers and acquisitions across Canada, Australia, Africa and the United Kingdom.

Mr. Tomlinson was previously managing director of investment banking at Westwind Partners and Stifel Nicolaus (2006 to 2012), where he raised significant equity capital and provided merger-and-acquisition advisory services. He is the former chair of Cardinal Resources Ltd., where he led its $587-million sale to Shandong Gold, and previously served as a non-executive director of Centamin PLC, which discovered and developed a significant gold mine in Egypt.

Mr. Tomlinson's current board positions include chairman roles at a significant Australian gold producer and at a copper/gold developer with projects in Newfoundland, both of which are listed on the ASX. Mr. Tomlinson holds a bachelor of science (honours) and a master's degree in structural geology, as well as a graduate diploma in finance and investment banking, corporate finance and securities law from the Securities Institute of Australia. He is a fellow of the Chartered Institute of Securities and Investment, a fellow of the Institute of Directors, and a liveryman of the Worshipful Company of International Bankers (United Kingdom).

It is anticipated that both Mr. Muscillo and Mr. Tomlinson will play integral roles in advancing the company's strategic initiatives by strengthening its governance structures, enhancing its risk management framework and providing specialized technical support to drive operational excellence.

Retirement of president and chief executive officer

The company further announces that Dave Anthony will retire as president and chief executive officer of the company, effective May 15, 2026, and as a director of the company with effect from May 15, 2026.

Mr. Anthony joined the company in July, 2021, as the chief operating officer. He has served as president and chief executive officer since March, 2022, and has played a central role in the company's transformation into a significant gold producer. Under his leadership, the company transitioned from a development-stage company into a producing gold company, strengthened its operational foundation at Bibiani and Chirano, and raised more than $500-million (U.S.) in development capital to support the company's growth.

Malik Easah stated: "The company owes Dave a debt of gratitude. In July, 2021, I asked Dave to shelve his retirement plans, and, then, in March, 2022, the board of directors appointed him to be president and CEO. Now, almost five years later and having helped build a solid base for the future, it is only fair that we allow him to retire again. We wish Dave well."

A formal search for a new chief executive officer has been initiated. Mr. Anthony will continue to serve in an advisory capacity to the company for a defined transitional period after May 15, 2026, to provide continuity and support.

Director retirement

The company also announces that Dr. Roger Norwich has retired as a director with effect from March 10, 2026. Dr. Norwich has served on the board since August, 2020. He has made substantive contributions to the company, having served on the audit committee, the compensation, governance and nominating committee, the environmental, social and governance committee, the technical committee, and the special committee. The board thanks him for his commitment, diligence and many contributions during a period of significant growth and development for the company, and wishes him continued success in his future endeavours.

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.

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