Mr. Dave Anthony reports

ASANTE PROVIDES UPDATE ON FIRST TRANCHE CLOSING OF US$100 MILLION NON-BROKERED PRIVATE PLACEMENT

Further to Asante Gold Corp.'s press release of Sept. 24, 2024, which announced a $100-million (U.S.) non-brokered private placement with the first tranche of $25-million (U.S.) scheduled to close on Oct. 15, 2024, closing of the first tranche of the offering has been delayed due to foreign exchange conversion challenges. Asante confirms that $14-million (U.S.) of the first tranche of the offering has been received and that the balance of subscription funds to effect closing of the first tranche of the offering is expected to occur on or about Oct. 31, 2024.

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 Canadian Securities Exchange and the Ghana Stock Exchange. 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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