Mr. Dave Anthony reports

ASANTE ANNOUNCES APPROVAL OF BASE SHELF PROSPECTUS FOR GHANAIAN BOND OFFERING UP TO US$400 MILLION

Asante Gold Corp. has received approval from the Securities and Exchange Commission of Ghana and the Ghana Stock Exchange for the filing of a base shelf prospectus in Ghana. This approval implies that the company will be permitted to offer up to $400-million (U.S.) of debt securities in one or more tranches during the life of the bond program. A copy of the base shelf prospectus may be found on SEDAR+.

The Ghana bond offering is envisaged to be made in Ghanaian cedis, indexed to the United States dollar/Ghanaian cedi exchange rate, and admitted on the Ghana Fixed Income Market of the Ghana Stock Exchange. Prospective investors may include in-country pension funds, commercial banks, high-net-worth individuals, and international investors. Asante has not entered into any agreements or arrangements in respect of such first tranche.

The use of proceeds from the Ghana bond offering may include the financing of growth initiatives and operating expenditures at the Bibiani and Chirano mines, acquisition opportunities and refinancing of liabilities.

"We are excited to be launching this bond program, which would provide Ghanaian investors with a unique opportunity to gain exposure to Asante as we work to grow Bibiani-Chirano into Africa's next Tier 1 gold district with annual production of more than 500,000 ounces of gold anticipated by 2028," stated Dave Anthony, Asante's president and chief executive officer. "We look forward to updating the market on our progress as part of our broader financing initiative to fund the company's growth initiatives and recapitalization of short-term liabilities."

IC Securities (Ghana) Ltd. and Temple Investments Ltd. are acting as joint lead arrangers and transaction advisers to Asante in respect of the Ghana bond offering.

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. 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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