Asante Announces Additional Significant Drill Results at Aboduabo Prospect, Chirano GOLD MINE, Ghana

ASANTE ANNOUNCES ADDITIONAL SIGNIFICANT

DRILL RESULTS AT ABODUABO PROSPECT,

CHIRANO GOLD MINE, GHANA

Vancouver, British Columbia, September 25, 2023 – Asante Gold Corporation (CSE:ASE

| GSE:ASG | FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the "Company") is pleased to

announce results from its ongoing exploration drilling program at the Aboduabo prospect located on our

Bibiani – Chirano mines corridor, Sefwi Greenstone Belt, Ghana.

Latest drill results have intersected high grade shoot extensions in multiple zones down- plunge of the

defined +1km strike length of Aboduabo mineralization. Previous announcements by the Company ( see

press releases of January 17, 2023, February 8, 2023 and April 6, 2023) have highlighted the significant

intercepts and potential of this deposit, located along the Bibiani Shear Zone. To date, 88 holes totaling

21,000m have been completed testing lateral extensions and upgrading geologic confidence in previously

tested zones. Field mapping has been initiated along the trend to identify new targets for future growth.

Highlights

• CHRC3406 intersected a high gold grade shoot extension of significant interest, grading 8.73 g/t over

20.5m.

• Step-out drilling has intersected consistently wide, significant gold mineralization within

metasedimentary shear zones.

• Selected intercepts include:

• CHRC3406D – 20.5m @ 8.73 g/t Au from 222 to 242.5m

• CHRC3420D – 10.1m @ 5.83 g/t Au from 214.7 to 224.8m

• CHRC3405D – 17.15m @ 4.27 g/t Au from 274.5 to 291.65m

o Includes 7.7m @ 8.94 g/t Au from 274.5m to 282.2m

• CHRC3386D – 30m @ 2.81 g/t Au from 120m to 150m

o Includes 24m @ 3.16 g/t Au from 126m to 150.0m

• CHRC3400D – 26.6m @ 2.27 g/t Au from 166.35m to 192.95m

o Includes 8.3m @ 4.2 g/t Au from 169.7m to 178.0m

• CHRC3411D – 65.0m @ 1.41 g/t Au from 46.0m to 111.0m

o Includes 24.20m @ 2.47 g/t Au from 46.0m to 70.2m

• CHRC3441D- 46.70m @ 1.90 g/t Au from 380.3.0m to 427.0m

o Includes 10.0m @ 4.37 g/t Au from 402.1m to 413.0m

Dave Anthony, President and CEO stated, “Results from the exploration drill program at Aboduabo

continue to support our assessment that the deposit remains open and has potential to develop into long life

open pit mine and future underground mine. We look forward to expanding the Aboduabo footprint with

our field mapping program.”

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Aboduabo Prospect

The Aboduabo prospect is located approximately 5km north of the Chirano Process Plant and 10km south

of the Bibiani Process Plant. Aboduabo is 7 km south of our Russel South deposit. It lies within the Bibiani

mineralized trend and is hosted in Birimian sedimentary rock sequences. The Chirano gold deposits are

primarily hosted in Birimian volcanic and granitoid sequences along the sub parallel Chirano trend.

Drill Results

Table 1: Summary drill results from the Aboduabo Prospect

Hole ID From To Interval Au Elevation Intercept

(m) (m) (m) (g/t) m RL

CHRC3405D 274.5 291.65 17.15 4.27 84 [email protected]/t Au

CHRC3405D Including 274.5 282.2 7.7 8.94 87 [email protected]/t Au

CHRC3406D 222 242.5 20.5 8.73 131 [email protected]/t Au

CHRC3390D 195.9 206 10.1 6.48 159 [email protected]/t Au

CHRC3400D 166.35 192.95 26.6 2.27 171 [email protected]/t Au

CHRC3400D Including 169.7 178 8.3 4.20 175 [email protected]/t Au

CHRC3441D 380.3 427 46.7 1.90 -50 [email protected]/t Au

CHRC3441D Including 380.3 413.75 33.45 2.42 -46 [email protected]/t Au

CHRC3441D Including 402.1 413 10.9 4.37 -53 [email protected]/t Au

CHRC3404 29 56 27 1.29 304 [email protected]/t Au

CHRC3404 Including 29 36 7 3.17 312 [email protected]/t Au

CHRC3420D 209.55 233.3 23.75 3.18 130 [email protected]/t Au

CHRC3420D Including 214.7 224.8 10.1 5.83 131 [email protected]/t Au

CHRC3443 44 53 9 3.47 249 [email protected]/t Au

CHRC3411D Including 46 70.2 24.2 2.47 345 [email protected]/t Au

CHRC3410 99 125 26 1.97 255 [email protected]/t Au

CHRC3410 Including 118 125 7 4.76 248 [email protected]/t Au

CHRC3414 166 183 17 3.18 195 [email protected]/t Au

CHRC3385D 234 238 4 2.15 147 [email protected]/t Au

CHRC3386 120 150 30 2.81 211 [email protected]/t Au

CHRC3425 133 157 24 1.70 157 [email protected]/t Au

CHRC3389D 126.85 133.75 6.9 1.42 177 [email protected]/t Au

CHRC3392D 195 208 13 1.02 127 [email protected]/t Au

CHRC3394 44 53 9 3.04 326 [email protected]/t Au

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Hole ID From To Interval Au Elevation Intercept

(m) (m) (m) (g/t) m RL

CHRC3395 0 39 39 0.61 362 [email protected]/t Au

CHRC3398D 125.67 137.5 11.83 1.19 245 [email protected]/t Au

CHRC3399 101 114 13 1.77 262 [email protected]/t Au

CHRC3399 Including 106 112 6 2.94 261 [email protected]/t Au

CHRC3403D 51 57 6 3.54 265 [email protected]/t Au

CHRC3412 20 30 10 2.22 373 [email protected]/t Au

CHRC3414 166 183 17 3.18 195 [email protected]/t Au

CHRC3414 Including 171 176 5 7.31 195 [email protected]/t Au

CHRC3418 150 159 9 1.82 190 [email protected]/t Au

CHRC3419 178 181 3 5.35 164 [email protected]/t Au

CHRC3422D 218.2 224.6 6.4 3.82 102 [email protected]/t Au

CHRC3434 111 125 14 1.78 175 [email protected]/t Au

CHRC3434 Including 111 117 6 2.37 178 [email protected]/t Au

CHRC3436 148 157 9 2.71 191 [email protected]/t Au

*CHRC3384D 280.75 317.55 36.8 2.56 -1 [email protected]/t Au

*CHRC3384D Including 280.75 302.3 21.55 3.13 5 [email protected]/t Au

*CHRC3358D 187 216.75 29.75 2.04 117 [email protected]/t Au

*CHRC3358D Including 196.65 204.5 7.85 5.47 117 [email protected]/t Au

*CHRC3375D 287.2 335 47.8 1.76 -18 [email protected]/t Au

*CHRC3375D Including 287.2 313.9 26.7 2.06 -9 [email protected]/t Au

*CHRC3375D 360 364.8 4.8 4.14 -60 [email protected]/t Au

*CHRC3377 0 15 15 1.24 321 [email protected]/t Au

*CHRC3377 51 74 23 2.31 271 [email protected]/t Au

*CHRC3377 Including 52.0 63 11 2.84 276 [email protected]/t Au

*CHRC3374 168 196 28 1.81 121 [email protected]/t Au

*CHRC3374 Including 168 177 9 4.10 129 [email protected]/t Au

*CHRC3366 157 183 26 1.32 160 [email protected]/t Au

*CHRC3366 Including 172 183 11 2.43 154 [email protected]/t Au

*CHRC3367 163 199 36 1.22 134 [email protected]/t Au

*CHRC3376 45 57 12 1.46 291 [email protected]/t Au

*CHRC3387 104 131 27 1.48 194 [email protected]/t Au

*CHRC3368D 301 315.75 14.75 1.18 13 [email protected]/t Au

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Hole ID From To Interval Au Elevation Intercept

(m) (m) (m) (g/t) m RL

*CHRC3368D Including 303.25 307.15 3.9 2.25 15 [email protected]/t Au

*CHRC3372D 232.3 244.6 12.3 0.92 77 [email protected]/t Au

*CHRC3372D 256.5 265.9 9.4 1.20 62 [email protected]/t Au

*CHRC3388 153 167 14 0.98 165 [email protected]/t Au

*CHDD3347 169.5 212.6 43.1 3.10 126 [email protected]/t Au

*CHDD3347 Including 196 205.95 9.95 6.85 119 [email protected]/t Au

*CHRC3359 121 147 26 3.12 209 [email protected]/t Au

*CHRC3359 Including 123 141 18 4.19 211 [email protected]/t Au

*CHRC3350 85 100 15 2.64 226 [email protected]/t Au

*CHRC3350 Including 85 92 7 4.44 229 [email protected]/t Au

*CHDD3339 96.5 117.95 21.45 2.99 238 [email protected]/t Au

*CHDD3339 Including 106.6 117.95 11.35 4.73 234 [email protected]/t Au

*CHRC3357 44 61 17 1.74 294 [email protected]/t Au

*CHDD3341 188 210 22.0 1.31 117 [email protected]/t Au

*CHDD3341 Including 198 210 12.0 1.72 114 [email protected]/t Au

*CHRC3348D 199.3 212.5 13.2 1.59 94 [email protected]/t Au

*CHDD3344 58 75.6 17.6 1.20 268 [email protected]/t Au

Notes:

1. Intervals reported are down hole lengths. True width estimated @ 80%.

2. Length-weighted averages from uncapped assays with assumptions of 0.5g/t cut off and <3m internal waste.

3. * Previously reported.

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Figure 1: Aeromagnetic map of the Bibiani – Chirano Gold Corridor, principal Asante gold deposits and

recent selected significant intercepts at the Aboduabo prospects.

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Figure 2: Plan view map of Aboduabo showing collar locations and recent drill results.

(* Previously reported results.)

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Figure 3: Long Section view map of Aboduabo Gram Metre plot and selected drill results showing upside

potential at depth.

(* Previously reported result.)

Figure 4: Drill Core photo of high-grade gold in vein hosted metasedimentary unit.

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QA/QC

Asante employs a QA/QC program consistent with NI 43-101 and industry best practices. Surface drilling

was conducted by GTS Drilling S ervices supervised by the Asante exploration teams. Selected drill core

intervals were sawn in half with a diamond blade saw. Half of the sampled core was left in the core box

and the remaining half was bagged and sealed. Asante utilizes accredited laboratories, and the samples were

transported to ALS-Kumasi, Ghana. Gold was analyzed by 50- gram fire assay with AA -finish. Certified

reference material (CRM) standards and coarse blank material are inserted every 20 samples.

Drill intercepts cited do not necessarily represent true widths, unless otherwise noted.

Qualified Person Statement

Scientific and technical information contained in this news release has been reviewed and approved by

Kwamina Ackun -Wood, a member of the Australasian Institute of Mining and Metallurgy, and the

Exploration Manager for Mensin Gold Bibiani Ltd. and by Danie l Apau, a member of the Australasian

Institute of Geoscientists, and the Exploration Manager for Chirano Gold Mines Limited, and by Dave

Anthony, P.Eng., Mining and Mineral Processing, President and CEO of Asante, all of whom are “qualified

persons” under NI 43-101.

About Asante Gold Corporation

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 Pr oject. 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 Canad ian

Securities Exchange, the Ghana Stock Exchange and the Frankfurt 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. Additional information is available on the

Company’s website at www.asantegold.com.

About the Bibiani Gold Mine

Bibiani is an operating open pit gold mine situated in the Western North Region of Ghana, with previous

gold production of more than 4.5 million ounces. It is fully permitted with available mining and processing

infrastructure on-site consisting of a newly refurbished 3 million tonne per annum process plant and existing

mining infrastructure. Asante commenced mining in late February 2022 with the first gold pour announced

on July 7, 2022. Commercial production was announced November 10, 2022.

For additional information relating to the mineral resource and mineral reserve estimates for the Bibiani

Gold Mine, please refer to Asante’s press releases dated July 18, 2022 and September 1, 2022 and the

technical report filed on its SEDAR profile (www.sedarplus.ca) on September 1, 2022.