Asante GOLD Announces Appointment of Executive Vice President & Country Director
ASANTE GOLD ANNOUNCES APPOINTMENT OF
EXECUTIVE VICE PRESIDENT & COUNTRY DIRECTOR
Vancouver, British Columbia, March 31, 2022 – Asante Gold Corporation (CSE:ASE |
FRANKFURT:1A9 | U.S.OTC:ASGOF) (“Asante” or the “Company”) is pleased to announce
the appointment of Frederick Attakumah as Executive Vice President and Country Director with
effect from April 1, 2022.
Mr. Attakumah holds a B.Sc. (Hons) in Electrical Engineering from the Kwame Nkrumah
University of Science and Technology (Ghana) and a Master of Business Administration degree
from the Henley Business School (UK). He has thirty years’ experience in the mining industry
spanning project development, operations management, sustainability, and corporate affairs.
Prior to joining Asante, Mr. Attakumah was the Executive Vice President and Managing Director
of Asanko Gold Ghana Limited. He has also held several senior executive roles including
Managing Director of AngloGold Ashanti (Ghana) Limited and Vice President of Sustainability
for AngloGold Ashanti’s operations in Ghana.
At the industry level, he held the position of First Vice President of the Ghana Chamber of Mines
and concurrently served as a member of the Governing Council of the Private Enterprise
Federation of Ghana (PEF). He has also served as President of the Canada Ghana Chamber of
Commerce which is focused on building bilateral private sector relationships between Ghana and
Canada. Mr. Attakumah has been a strong advocate for the positive role of the mining industry in
the socio-economic development of African countries and the criticality of a multi-stakeholder
approach in realizing this vision. He has contributed to several local and international panels,
including the Mining Indaba, on this topic.
Commenting on the appointment, Dave Anthony, CEO of Asante stated, “We are delighted to
welcome Frederick as Executive Vice President and Country Director of Asante. The extraordinary
capacity this appointment adds to our team supports our intention to develop a first-tier mining
company in West Africa. His proven leadership capacity, skill set and ability to engage key
stakeholders will be critical to the further development and growth of Asante.”
In connection with the appointment of Frederick Attakumah, the Company has granted 1,000,000
incentive stock options to purchase common shares of the Company exercisable at $1.75 per share
for a term of five years, such options to vest one-quarter on the date of grant and one quarter in
each of six, nine and 12 months subject to the provisions of the Company’s Equity Incentive Plan.
About Asante Gold Corporation
Asante is a gold exploration, development, and operating company with a high-quality portfolio
of projects in Ghana, Africa’s largest and most reliable gold producer. Asante is currently focused
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on developing to production its Bibiani and Kubi Gold mines 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.
Asante is listed on the Canadian Securities Exchange and Frankfurt Stock Exchange and has
announced plans to co-list its shares in Ghana. Asante is also exploring its Keyhole, Fahiakoba
and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near
the center of Ghana’s Golden Triangle. Additional information is available on our website at:
www.asantegold.com.
About the Bibiani Gold Mine
Bibiani is a historically significant gold mine situated in the western region of Ghana, with
previous gold production close to 5 Moz. It is fully permitted with available mining and processing
infrastructure on-site consisting of a 3 million tonne per annum mill and processing plant, and
existing surface and mining infrastructure.
The Current Mineral Resource Estimate for Bibiani, as reported in the Technical Report on the
Bibiani Gold Mine, Ghana, by Principal Author Ian M Glacken FAusIMM (CP), FAIG, CEng and
Qualified Person Dan Bansah MSc, MAusIMM (CP), FWAIMM, MGIG, dated November 7,
2021, and filed on SEDAR, is Measured and Indicated 20.1 million tonnes at 2.71 grams of gold
per tonne for 1.81 Moz of gold, plus Inferred 8.41 million tonnes at 2.78 grams of gold per tonne
for 0.75 Moz of gold from an open pit mine. The Mineral Resource has been reported above a
0.65 g/t gold cut-off and has been depleted for both historical open pit and underground
development as of August 31, 2017. The Bibiani Main Pit mineral resource has been prepared by
Competent Persons (Optiro, 2017) using accepted industry practices and have been classified and
reported in accordance with the JORC Code (JORC, 2012). There are no material differences
between the definitions of Measured, Indicated and Inferred Mineral Resources under the CIM
Definition Standards and the equivalent definitions in the JORC Code. The Satellite pit resource
is an update completed in 2018 by Resolute Mining Limited. The Satellite pit resource is also
reported above a cut-off grade of 0.65 g/t gold inside a pit shell defined at a gold price of US$1,950.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
For further information please contact:
Dave Anthony, President & CEO: +1 647 382 4215 (Canada) or +233 558 799 3309 (Ghana) or
Malik Easah, Executive Director, [email protected]
Alec Rowlands, Capital Markets Consultant, [email protected]
Valentina Gvozdeva, Manager IR, [email protected]
Kirsti Mattson, Media Relations, [email protected]
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Cautionary Statement on Forward-Looking Statements
This news release contains forward-looking statements. 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, including statements regarding the resources, reserves, exploration results, and
development program at Bibiani, including timing of future mine development and the start of
production. 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 Company's inability to obtain any necessary permits,
consents or authorizations required for its planned activities, and the Company's inability to raise
the necessary capital or to be fully able to implement its business strategies. 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 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 Canadian Securities Exchange, 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.