Asante Announces Appointment of New Directors
ASANTE ANNOUNCES APPOINTMENT OF NEW DIRECTORS
Vancouver, British Columbia, March 17 , 2023 – Asante Gold Corporation (CSE:ASE | GSE:ASG |
FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Company”) announces the appointment of
David Anthony, Chief Executive Officer of Asante, and Edward Nana Yaw Koranteng, Chief Executive
Officer of Minerals Income Investment Fund (“MIIF”) , to th e Company’s board o f directors and the
resignation of Nadia Abdul Aziz as a director of the Company, all with immediate effect.
Douglas MacQuarrie, Chair o f the Board, stated, “The Board will deriv e significant benefit from these
two new appointments. Dave’s appointment follows naturally from his role as Asante’s Ch ief Executive
Officer for the past year and previously as Chief Operating Officer. Edward’s appointment reflect s both
his deep experience in mine finance and his perspective as a represen tative of MIIF, a significant Asante
shareholder and a strong supporter o f Asante’s gold mining operations in Ghana. We thank Nadia for
her outstanding contributions to Asante on the Board, the ESG and the Audit Committees. We
look forward to her continued involvement in Asante’s community initiatives.”
David Anthony has more than 40 years of experience in mine project developmen t and operation at the
senior management and executive levels. He worked with Barrick in Africa for 10 years and became COO
of African Barrick Gold. He has also worked in Canada, E cuador, Brazil, Indonesia, Chile and Argentina
to design, deliver and operate open pit and underground mines. Prior to Asan te, he was Chief Operating
Officer of Cardinal Resources Limited before its takeover by Shandong Gold for more than $500 million.
At the time, Cardinal was developing the 5 million oz (reserve) Namdini Gold Mine in Ghana.
Edward Koranteng is a lawyer and an experienced corporate and investment banker with over 23 years
working experience. Since 2021, as Chief Executive Officer of MIIF, a sovereign minerals wealth fund, he
oversees the management of Ghana’s equity interest in mining companies and manages all royalties paid to
the state from mining activities. Prior to his appointment to MIIF, Mr. Koranteng was the Business Head
for East, Central and Southern Africa for Ghana International Bank plc (GHIB) in the United Kingdom,
and was stationed primarily in Nairobi, Kenya where he was also responsible for GHIB’s energy and mining
portfolio and led various financing pro jects in Ethiopia, Tanzania, Kenya and Malawi. Prior to that, Mr.
Koranteng worked with the Chase Bank Group (Kenya) , now SBM Bank of Mauritius, which included
Genghis Investment Bank, as the Group Head for Energy, Oil, Gas and Mining. He has held executive and
senior managerial positions covering corporate, oil and gas and mining for Ecobank Ghana, Access Bank
Ghana and Fidelity Bank. He began his career as a Management Consultant with PriceWaterhouseCoopers
in 1999 in Ghan a. He holds a Master of Laws Degree in International Banking and Finance from the
University of Leeds.
In other news, with the Company having fully investigated the matters that arose at the Annual and Special
General Meeting held on December 21, 2022, the Executive Committee of the Board that was formed has
now been dissolved.
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 with combin ed
forecast production o f approximately 400,000 ounces of gold for 2023. The Company continues with
detailed technical studies at its Kubi Gold Project for early production. All mines and exploratio n 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. Th e Company is listed on the
Canadian Securities Exchange, the Ghana S tock Exchange and the Frankfurt Stock Exchange. Asante is
also exploring its Keyhole, Fahiakoba and Betenase projects for new d iscoveries, 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 Ghan a, with previous
gold production of near 5 million ounces. It is fully permitted with available mining and processing
infrastructure on-s ite consisting of a newly refurbished 3 million tonne per annum p rocess plant and
existing mining infrastructure. Mining commenced in late February 2 022 with th e first go ld 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 an d September 1, 2022 and the
technical report filed on its SEDAR profile (www.sedar.com) on September 1, 2022.
About the Chirano Gold Mine
Chirano is an operating open-p it and underground mine located in the Western Region of Ghana,
immediately south of the Company’s Bibiani Gold Mine. Chirano was first explored and developed in 1996
and began p roduction in October 2005. The mine comprises the Akwaaba, Suraw, Akoti South, Akoti
North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits and the Akwaaba
and Paboase underground mines. Gold Equivalent Pro duction in 2021 was 1 54,668 oz on a 10 0% basis
(source Kinross Gold Corporation).
For further information please contact:
Dave A nthony, P resident & C EO: +1 647 382 4215 (Canada) o r + 233 5 5 879 3309 (Ghana),
Frederick Attakumah, Executive Vice President, [email protected]
Cautionary Statement on Forward-Looking Statements
This news release contains forward -looking statements. Forward -looking statements invo lve risks,
uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to
differ materially from those expressed or implied by such f orward-looking statements, including the
resources, reserves, exploration results, development programs and increases in mine-l ife and potential
synergies between Chirano and Bibiani. Factors that could cause actual results to differ materially from
these forward -looking statements include, but are not limited to, variations in the nature, quality and
quantity of any mineral deposits that may be located, the Compan y’s inability to o btain any necessary
permits, consents or authorizations required for its planned activities, the Company’s inability to raise the
necessary capital or to be fully able to implement its business strategies, and the price of gold. The reader
is referred to the Company’s public disclosure record which is available on SEDAR ( www.sedar.com).
Although the Company believes that the assumptions and factors used in p reparing the forward-l ooking
statements are reasonable, undue reliance should not be placed on these statements, which only apply as of
the date of this news release, and no assurance can be given that such events will occur in the disclosed
time frames or at all. Except as required by securities laws and the policies of the securities exchanges on
which the C ompany is listed, the Company disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
LEI N umber: 529900F9PV1G9S5YD446. Neith er IIROC no r an y stock exchang e or oth er securities
regulatory authority accepts responsibility for the adequacy or accuracy of this release.