Asante Announces Commencement of Mining at Russel Starter Pit at Bibiani Gold Mine Page 1

VANCOUVER, British Columbia, Sept. 19, 2024 (GLOBE NEWSWIRE) — Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | USOTC:ASGOF) (“Asante” or the “Company”) is pleased to announce that following receipt of all necessary approvals from the Ghanaian authorities, the first mineralized material has been delivered from the Russel Starter Pit to the Bibiani Gold Mine processing plant. The Russel deposit, located 3.8 kilometers from the Bibiani processing plant, contains 119,000 ounces of open pit Measured and Indicated gold resources grading 1.80 grams per tonne* with mineralogy similar to the Bibiani Main Pit.

“This is the third satellite pit explored, defined and optimized by Asante since acquiring the Bibiani properties and the start of production at Russel represents another successful milestone on our path to increasing Asante’s production to over 500,000 ounces by 2028,” stated Dave Anthony, President and CEO, adding, “The approval to mine at Russel follows other key catalysts including the rerouting of the Bibiani-Goaso highway, which will give us access to additional oxide mineralized material, and continued progress on the construction of the Bibiani sulphide processing plant. Once fully commissioned, Bibiani-Chirano will be the seventh largest gold producing district in Africa and the only Tier One gold district in Africa not operated by a major gold producer.”