Asante GOLD Corporation Provides Status Update ON Management Cease Trade Order
ASANTE GOLD CORPORATION PROVIDES STATUS UPDATE
ON MANAGEMENT CEASE TRADE ORDER
Vancouver, British Columbia, May 30, 2023 – Asante Gold Corporation (CSE:ASE | GSE:ASG |
FRANKFURT:1A9 | U.S.OTC:ASGOF) ("Asante" or the "Company") today provided its second bi-
weekly status update in connection with a management cease trade order (“MCTO”) granted by the British
Columbia Securities Commission. Asante confirms there have been no material changes to the information
provided in its May 3, 2023 news release.
Pursuant to the MCTO, the Company has until June 30, 2023 to file its annual financial statements, and
related CEO and CFO certifications, for the years end ed January 31, 2023 and January 31, 2022 and its
annual information form for the year ended January 31, 2023 (collectively, the "Annual Filings").
The Company expects to complete the Annual Filings by no later than May 31, 2023. Asante confirms that
there has been no failure to fulfill its stated intentions with respect to the Annual Filings and that there is
no subsequent specified default anticipated. The Company further confirms that there is no other material
information concerning the affairs of the Company that has not been generally disclosed.
The MCTO prohibits trading in securities of the Company by the chief executive officer and the chief
financial officer of the Company, whether direct or indirect, until its Annual Filings are completed. Other
shareholders may continue to trade the Company’s securities during this period.
The Company intends to continue providing bi-weekly status reports in the form of news releases until the
Annual Filings are completed.
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 combined
forecast production of 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 exploration projects
are located on the prolific Bibiani and Ashanti Gold Belts. Asante ha s an experienced and skilled team of
mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the
Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is
also exploring it s 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. Mining commenced in late February 2022 with the first gold pour announced on July
7, 2022. Commercial production was announced November 10, 2022.
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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.sedar.com) on September 1, 2022.
About the Chirano Gold Mine
Chirano is an operating open- pit 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 production 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 Production in 2021 was 154,668 oz on a 100% basis
(source Kinross Gold Corporation).
For further information please contact:
Dave Anthony, President & CEO or Frederick Attakumah, Executive Vice President and Country Director
at [email protected] or +1 604 661 9400 or +233 303 972 147.
Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed and approved by
Dave Anthony, P. Eng., Mining and Mineral Processing, President and CEO of Asante, who is a “qualified
person” under NI 43-101.
Cautionary Statement on Forward-Looking Statements
Certain statements in this news release constitute forward-looking statements, including but not limited to,
the timing of the Annual Filings and forecasts of gold production. Forward- looking statements involve
risks, uncertainties and other factors that could cause actual results, performance, prospects, and
opportunities to differ materially from those express ed 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, accounting issues, availability of key management and accounting personne l,
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 nec essary 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
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 Company is listed, the Company disclaims any intentio n 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.