Asante Announces Start of Bibiani Sulphide Plant Operation
ASANTE ANNOUNCES START OF
BIBIANI SULPHIDE PLANT OPERATION
Vancouver, British Columbia, Septem ber 29, 2025 – Asante Gold Corporation ( TSXV:ASE | GSE:ASG
OTCQX:ASGOF) (“Asante” or the “Company”) , an em erging mid-tier gold producer, is pleased to provide an
update on progress made on its sulphide plant at the Bibiani Gold Mine (“Bibiani Mine” and “Bibiani”) , in the
republic of Ghana.
Recent Highlights:
• Health and safety: Lost Time Incident Frequency Rate of 0.00, and Total Recordable Incident Frequency
Rate of 0.00 for year-to-date 2025
• Project Cost: Total spent to date of US$32M versus US$32M budgeted (pre-tax)
• Status: Construction and commissioning are complete
o 12 h/d operation to process Bibiani ore started on September 27, 2025
o 24 h/d operation expected to start on September 30, 2025 and optimization to achieve +85% gold recovery
will progress through October 2025
• Bibiani LOM gold recovery: Increase from 60% to 92% is expected to be reached in late October 2025
• Project Nameplate: 4 million tonnes per year (“Mt/y”)
• Plant Drone Footage: Recent aerial drone footage of the plant can be viewed here: drone footage
“This is a year of executing our strategic plan to allocate significant capital to our mining and processing operations
at both Bibiani and Chirano . With the finances now in hand, we expect to grow long-term gold production to
450,000 to 500,000 ounces of gold per year ,” stated Dave Anthony, President and CEO. “ With construction and
commissioning of the Bibiani sulphide treatment plant complete, we are focused on the next phase, which move s
the plant into operation, ramp-up, testing and optimization to achieve 92% recovery and enhance Bibiani’s growth
profile.”
Sulphide Plant Update
Construction on the Bibiani sulphide plant first began in Q4 2024. The objective of this facility is to liberate and
recover the gold that occurs within sulphide mineralization. For the ore at Bibiani that is below 110 metre (“m”)
depth, approximately 30% of the gold occurs within sulphide mineralization and measures 35 microns.
The process flowsheet for the sulphide plant includes flotation, regrind of flotation concentrate to 25 microns, use
of Aachen reactor technology to provide elevated oxygen levels in the high intensity l each and carbon in pulp
(“CIP”) for gold recovery. The flotation tailings and sulphide treatment plant tailings return to the carbon in leach
(“CIL”) plant for further treatment. This process is expected to increase gold recovery significantly, from 60% to
92%, keeping in line with the Bibiani technical report published in April 2024.
The sulphide treatment plant commenced 12 hour per day operations on September 27, 2025. The Company expects
to move to a 24-hour per day operation on September 30, 2025. Optimization will proceed during October and 92%
recovery is expected to be reached in late October 2025.
Key Supply Partners
Process test work on the Bibiani sulphide plant was completed by ALS (Australia), with principal process equipment
suppliers being FlSmidth (USA), MO (Europe) Group and Maelgywn (South Africa). Project design was conducted
by M ining Process Project E ngineering (MiningPro - Ghana Limited) and project management by Jet -Rom
Engineering (Ghana).
Earnings Webcast Replay
A replay of the webcast conference call for the quarter ended July 31, 2025 is now available on the Asante website
at https://asantegold.com or can be accessed here: conference call replay.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed and approved by David
Anthony, P.Eng., Mining and Mineral Processing, President and CEO of Asante, who is a "qualified person" 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 Project. 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.
For further information please contact:
Dave Anthony, President & CEO
Frederick Attakumah, Executive Vice President and Country Director
+1 604 661 9400 or +233 303 972 147
Cautionary Statement on Forward-Looking Statements
Certain statements in this news release constitute forward-looking statements or forward-looking information. All
statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking
statements or information in this news release relate to, among other things: commencement of 24h/d operations at
the Bibiani sulphide plant , increase in long -term gold production, expected increase in gold recovery and
exploration potential. These forward-looking statements and information reflect the Company’s current views with
respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable
by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties
and contingencies. These assumptions include: the impact of inflation and disruptions to the global, regional and
local supply chains; tonnage of mineralized material to be mined and processed; future anticipated prices for gold
and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including
anticipated sustaining, project, and exploration expenditures; risks related to increased barriers to trade, including
tariffs and duties; ore grades and recoveries; capital, decommissioning and reclamation estimates; our mineral
reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs,
labour, materials, supplies and services (including transportation); no labour -related d isruptions at any of our
operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and
regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and
ownership to mineral properties and the surface rights necessary for our operations, including contractual rights
from third parties and adjacent property owners; whether the Company is able to maintain a strong financial
condition and have sufficient capital , or have access to capital, to sustain our business and operations; and our
ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Forward-looking statements involve risks, uncertainties and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-
looking statements. Factors that could cause actual results to differ materially from these forward -looking
statements include, but are not limited to, the duration and effect of local and world-wide inflationary pressures and
the potential for economic recessions; fluctuations in the price of gold; fluctuations in currency markets; operational
risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial
accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and
severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties
with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks
and hazards; employee relations; relationships and claims by local communities; changes in laws, regulations and
government practices in the jurisdictions where we operate, including environmental, export and import laws and
regulations; changes in nat ional and local government, legislation, taxation, controls or regulations and political,
legal or economic developments in countries where the Company may carry on business, including legal restrictions
relating to mining, risks relating to expropriation; variations in the nature, quality and quantity of any mineral
deposits that may be located, the Company’s inability to obtain any necessary permits, consents or authorizations
required for its planned activities, the Company’s inability to raise the neces sary capital or to be fully able to
implement its business and growth strategies, and those risk factors identified in the Company’s management’s
discussions and analysis and the most recent annual information form. The reader is referred to the Company’s
public disclosure record which is available on SEDAR (www.sedarplus.ca). Although the Company believes that
the assumptions and factors used in preparing the forward-looking 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 Compan y 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 Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory
authority accepts responsibility for the adequacy or accuracy of this release.