Asante & Perseus Modify Betenase Option, Ghana
ASANTE & PERSEUS MODIFY BETENASE OPTION, GHANA
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
FOR IMMEDIATE RELEASE
Vancouver, British Columbia – June 5, 2018 – Asante Gold Corporation ( CSE:ASE/
FRANKFURT:1A9) (the "Company") an d Perseus Mining (Ghana) Limited (‘Perseus’) have
agreed to modify the terms of their Betanase Option and Sale Agreement . The Betanase
(‘Betenase’) permit is currently in the process of being carved out of a larger prospecting license
owned by Perseus, and adjoins to the east of our Kubi Gold exploration/development project and
to the south of AngloGold Ashanti’s Obuasi mine concessions.
The Company may exercise the option to earn a 100% interest in Bete nase (subject to 10%
reserved for the Government of Ghana, and 1% underlying NSR royalties) by completing
US$1million in exploration within four years of the earlier of either th e issuance of the new
Betenase prospecting license, or December 31st, 2019, and by paying US$1million to Perseus.
On December 7, 2015 Asante announced that a significant gold mineralized system had been
discovered at Betenase. Our initial four hole drill test of a 750 metre long gold in soil
geochemical target yielded six intervals with gold values greater than 1.0 g/t Au, with the best
intersection of 3.14 g/t gold over 4.0 metres. The gold mineralization is associated with cross
cutting pyritic quartz stringers and disseminated , and or locally bedded, pyrite in altered
Tarkwaian quartzites. The best gold results are spatially related to high Induced Polarization (IP)
chargeability anomalies . Additional IP surveying and drilling are planned to cover extensive
alluvial workings located just to the west and up to 2 km to the north of the drilled area. Further
information on Betenase is available at: http://www.asantegold.com/projects/betenase-option
In addition the Company announces the granting of 1,500,000 in centive share purchase options
to Directors, Officers and consultants at a price of $0.10 per share for a term of 5 years.
On behalf of the Board,
"Douglas R. MacQuarrie"
President and CEO
Scientific and technical information contained in this news release has been reviewed and approved by
Douglas R. MacQuarrie, P.Geo. (B.C.) Geology & Geophysics, the President and CEO of the Company,
who is a "qualified person" under NI 43-101.
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For further information please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: [email protected]
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: [email protected]
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: [email protected]
Additional information is available on our web site at: www.asantegold.com
LEI Number: 529900F9PV1G9S5YD446
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the
adequacy or accuracy of this release.