Mr. Dave Anthony reports

ASANTE ANNOUNCES CLOSING OF FIRST TRANCHE OF US$100 MILLION NON-BROKERED PRIVATE PLACEMENT

Asante Gold Corp. has closed the first tranche of $25-million (U.S.) of the previously announced $100-million (U.S.) non-brokered private placement with the issuance of 22,666,667 common shares. The second and third tranches of the offering, consisting of $35-million (U.S.) and $40-million (U.S.), are expected to be completed on or about Nov. 14, 2024, and Dec. 5, 2024, respectively.

The securities issued under the first-tranche closing are subject to a hold period expiring four months and one day following the closing date of the offering, in accordance with applicable securities laws. No commissions or finders' fees were paid by the company in connection with the first-tranche closing.

The use of proceeds from the offering may include the financing of growth and development initiatives at the Bibiani and Chirano mines, as well as acquisition opportunities and refinancing liabilities.

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.

We seek Safe Harbor.