Asante announces commercial production at Viviani gold mine, Canadian Business Journal

VANCOUVER, British Columbia, November 10, 2022 (GLOBE NEWSWIRE) — Asante Gold Corporation (CSE:ASE | GSE:ASG | Frankfurt:1A9 | USOTC:ASGOF) is on track to start-up the Viviani gold mine (“Viviani”), with commercial production established in three months of consistent production since the first gold pour was completed in early July 2022. I am pleased to announce that Operational highlights include:

• The first gold infusion at Viviani was completed on July 7, 2022, two months ahead of schedule. Metallurgical performance and gold production are on track as planned.
• All process plants and mining facilities have been operating 24 hours a day since late June, producing about 220,000 tons in September and about 206,000 tons in October. Asante plans to increase throughput to 250,000 tonnes per month by Q1 2023.
• September gold production topped 9,300 oz, 17% ahead of the company’s start-up plans. In October, he produced 9,910 ounces, 15% above plan. Gold production will continue to rise to around 20,000 ounces per month by early 2023.
• Walshpit continues to outperform the originally planned gold production. Since this pit was developed, the grade control drilling program has been a key component in the development of this trend.
• Our plans to extend the life of the Viviani open pit mine from 8.3 years to +10 years are on track, with successful development exploration at Russell South (press release dated March 29). reference).^th and August 17th^th) and drilling programs will continue as planned at the Grasshopper and Elizabeth deposits. The Company continues its mine development exploration program with plans to drill approximately 30,000 meters per year in 2022, 2023 and 2024.
• Viviani ore bodies are usually subverted and deeply open. Bibiani began researching underground mining schemes to define the development of underground mines to access deposits under the main his pits and satellite pits. Asante expects its underground mining program initiative to significantly increase annual gold production, progressing from 2025 and extending the life of the mine beyond the period of open pit mining.

Dave Anthony, President and CEO, said: “We are extremely pleased with the progress achieved with Viviani. Over the past 12 months, the Viviani Mine team has built a solid track record and we look forward to increasing the value of this asset. We look forward to providing further updates as we continue our exploration activities and production improvement initiatives.”

For more information on Asante’s current plans for Viviani and Cirano, please refer to the company’s press release dated October 12, 2022 and the November 2022 investor presentation on our website www.asantegold.com. please.

Qualified person statement

Scientific and technical information contained in this news release has been reviewed and approved by David Anthony of P.Eng. (Alberta and Ontario) Mining and Metallurgy, a “qualified person” under NI 43-101, is President and CEO of Asante.

About Asante Gold Corporation

Asante is a gold exploration, development and operations company with a portfolio of quality projects and mines in Ghana. Asante currently operates the Vibiani and Cirano gold mines, which are expected to produce a combined 335,000 ounces of gold over the next 12 months. We are continuing detailed technical research with the Kubi Gold Project for early production. All mines and projects are located in the prolific Viviani and Ashanti Gold Belts. Asante has a team of experienced and skilled mine detectors, builders and operators with extensive experience in Ghana. Asante is listed on the Canadian Stock Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also investigating the Keyhole, Fajiacova, and Betenase projects for new discoveries. All of these are adjacent to or adjacent to major gold mines near the center of Ghana’s Golden Triangle. Additional information is available on the company’s website at www.asantegold.com.

About Viviani Kanayama

Viviani is a historically significant gold mine located in the western region of Ghana with a previous gold production of over 4Moz. Fully licensed with on-site available mining and processing infrastructure consisting of newly refurbished 3 million tonnes per annum process plant and existing mining infrastructure. Mining began in his late February, with the first gold spill announced on July 7, 2022, with a projected 12-month gold production of 175,000 ounces.

For additional information regarding the Mineral Resources and Mineral Reserve Estimates for the Viviani Gold Mine, please refer to Asante’s press releases dated July 18, 2022 and September 1, 2022, “NI 43-101 Technical Report, Viviani Gold Project”. See technical report titled , Ghana, West Africa”, dated 31 August 2022 (with an effective date of 28 February 2022 for him) and submitted to his SEDAR profile (www.sedar.com) on 1 September 2022 .

About Chirano Gold Mine

Chirano is an open pit and underground mining operation located in the northwestern part of Ghana, just south of the company’s Viviani gold mine. Chirano he was first explored and developed in 1996 and started production in October 2005. Pavoase Underground Mine. Gold equivalent production in 2021 was 154,668 ounces on a 100% basis (by Kinross Gold Corporation).

Additional information regarding Chirano’s Mineral Resources and Mineral Reserve estimates can be found in Asante’s press release dated October 11, 2022 and the Technical Report dated October 11, 2022 entitled “NI 43-101 Technical Report, Chirano Gold Mine, See Ghana, West Africa. On 30 September 2022 (effective date 31 December 2021), on 11 October 2022 he was submitted to the SEDAR profile (www.sedar.com).

For more information, please contact:

Dave Anthony, President and CEO: +1 647 382 4215 (Canada) or +233 55 879 3309 (Ghana), [email protected]

Frederick Attakumah Executive Vice President [email protected]

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements include resources, reserves, exploration results, development programs and production projections. Factors that could cause actual results to differ materially from these forward-looking statements include variations in the nature, quality and quantity of mineral deposits that may be discovered and the company obtaining necessary permits. including, but not limited to, inability and consent; or approvals required for planned activities, the company’s inability to raise the required capital or fully implement its business strategy, and the price of gold. Readers should refer to the company’s public records available at SEDAR (www.sedar.com). Although we believe that the assumptions and factors used in making our forward-looking statements are reasonable, we should not place undue reliance on these statements and Applies only in The event will occur in the disclosed time frame or not at all. Except as required by securities laws and the policies of the stock exchanges on which we are listed, we do not intend to update or revise any forward-looking statements as a result of new information, future events or otherwise. denies any obligation.

LEI number: 529900F9PV1G9S5YD446. No IIROC, stock exchanges or other securities regulators are responsible for the adequacy or accuracy of this release.

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