Vancouver, British Columbia, 6. November 2023 / IRW-Press / Asante Gold Corporation (CSE: ASE | GSE: ASG | FWB: 1A9 | U.S.OTC: ASGOF) („Asante“ or the „Company“) is pleased to announce an expanded estimation of mineral resources („MRE“) at the Grasshopper open pit mine. The Grasshopper mine is located within the Bibiani mining concession and is less than 2 km north of the Bibiani processing plant. Asante commenced mining operations at the Grasshopper open pit in the second quarter of 2023. Key Highlights – Drilling results for resource definition confirm the consistency of low-grade but voluminous mineralization, predominantly located in the oxide-transitional zone, allowing direct access to high-yield ore material. The indicated resources in the optimized open pit model amount to 1.88 million tonnes with a grade of 1.04 g/t, equivalent to 56.5 thousand ounces of gold based on a gold price of $1,850 per ounce. The MRE for Grasshopper is based on a historical drilling volume of approximately 10,000 m, as well as current drilling over 8,800 m. Multiple ore occurrences extend along strike and dip beyond the open pit model (gold price of $1,850). Further drilling is planned, with the potential to expand the mineral resources beyond the boundaries of the current open pit. – The majority of the mineralized material at the Grasshopper open pit is located in the oxide-transitional zone and is expected to yield over 90% gold recovery. – Development and mining operations at the first open pit operation commenced in the second quarter of 2023. – The gold mineralization is associated with the sheared metasedimentary sequence, bounded by well-defined structures in the hanging wall and footwall. Dave Anthony, President and CEO of Asante, commented: „I’m excited to announce this resource expansion and the development of the first open pit operation at Grasshopper. This demonstrates our commitment to maximizing the potential of our mining concessions and operations. The results of our ambitious resource definition drilling program are extremely promising and underscore the remarkable consistency of the voluminous mineralization within the oxide-transitional zone. With indicated resources in the optimized open pit model yielding 56.5 thousand ounces of gold at a grade of 1.04 g/t, we are on track to unlock significant value at the Grasshopper open pit. It is noteworthy that the majority of the mineralized material at the Grasshopper open pit is located within the oxide-transitional zone, where we can expect over 90% gold recovery and a transport distance of less than 2 km to the processing plant. Additionally, the presence of multiple ore occurrences along strike and dip outside of
