Ms. Camilla Golding reports

ASANTE PROVIDES FINANCING UPDATE

Asante Gold Corp.'s senior lenders and hedge counterparties have agreed to extend two previously disclosed deadlines relating to the company's senior facilities agreement, and has made other changes to provide additional flexiblity as Asante advances its broader financing strategy.

As previously disclosed, Asante was required, under waiver arrangements relating to its senior facilities agreement (refer to news release dated May 19, 2026), to secure aggregate new funding of at least $100-million (U.S.) by Aug. 31, 2026, and to deliver a cost to complete certificate to its senior lenders by Aug. 20, 2026 (refer to news release dated Aug. 17, 2026).

The company confirms that its senior lenders and hedging counterparties have agreed to extend both of these deadlines to Sept. 30, 2026.

This additional time allows the company to continue its discussions with its lenders regarding new financing and/or amendments to its existing financing, with the objective of securing additional capital on terms that aim to minimize further dilution to its shareholders.

While the company intends to implement a capital solution that minimizes dilution to its shareholders, and is encouraged by the constructive discussions and support received from its financing partners and other key stakeholders, there can be no assurance as to the precise structure, timing or terms of any future financing, or that any particular financing alternative will be completed.

Asante will continue to update the market as appropriate.

About Asante Gold Corp.

Asante Gold is a growing mid-tier gold producer, developer and explorer with a high-quality portfolio of assets located on two of West Africa's most prolific and prospective gold belts in Ghana. The company operates the Bibiani and Chirano gold mines on the Sefwi-Bibiani gold belt in Ghana's Western North region, where it holds an extensive and underexplored land position spanning more than 80 kilometres of strike. Asante is also advancing its Kubi gold project on the Ashanti gold belt, extending the company's footprint across Ghana's most productive gold corridor. Committed to responsible mining and the creation of lasting value for its shareholders, people and host communities, Asante is listed on the TSX Venture Exchange, the Ghana Stock Exchange and the OTCQX Market in the United States.

About the Bibiani gold mine

Bibiani is an operating open pit gold mine situated in the Western North region of Ghana, with historical gold production of more than 4.5 million ounces. The mine is fully permitted with mining and processing infrastructure on site, including a refurbished process plant and associated mining infrastructure. Asante commenced mining at Bibiani in late February, 2022, with commercial production announced on Nov. 10, 2022.

About the Chirano gold mine

Chirano is an operating open pit and underground mine located in the Western region of Ghana. The mine was first explored and developed in 1996 and began production in October, 2005. Chirano comprises multiple open pit and underground operations and has produced over three million ounces of gold. Asante acquired the Chirano operation in August, 2022.

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