Asante GOLD – Keyhole Discovery Extended

ASANTE GOLD – KEYHOLE DISCOVERY EXTENDED

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

FOR IMMEDIATE RELEASE

Vancouver, British Columbia – August 8 , 201 7 – Asante Gold Corporation ( CSE:ASE/

FRANKFURT:1A9/OTC:ASGOF) (“Asante Gold” or the “ Company”) is pleased to announce

that the second phase drilling program on our Keyhole Option in Ghana has extended the

mineralized shear zone outlined in the phase one drill program to a length of 650m and to a depth

of up to 150m below surface.

Drill hole MEM17 -11C, drilled on the same section and 25m under the high grade gold

discovery hole MEM17-001B (13.12g/t gold over 3.0m) has intersected a 3.5m wide sulfide and

quartz mineralized shear zone with visible gold noted. Drilling is continui ng to test the shear

zone along strike.

The mineralized shear zone is well defined by ground geophysical IP and VLF -EM techniques,

which gives us significant tools to further define the shear extensions and other pote ntial

mineralized shears in the Keyhole area, and in particular under the heavily alluvial mined

Keyhole corridor which extends several kilometres to the north and south.

Shear zones host most of the major gold deposits in Ghana. A map showing the previous assay

and ground IP geophysical results and all drill collars completed to date is available at:

http://www.asantegold.com/assets/img/NRMEMdrilling8Aug17.jpg .

Final assay results from the drilling are expected to be available in late August.

On behalf of the Board,

"Douglas R. MacQuarrie"

President and CEO

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

approved by Douglas R. MacQuarrie, P.Geo. (B.C.) Geology & Geophysics , the President and

CEO of the Company, and a "qualified person" under NI 43-101. Drill intercept lengths reported

are core lengths, as true widths cannot be accurately determined at this stage in the exploration.

About Asante Gold Corporation

Asante Gold is developing the Kubi Mining Lease and is exploring the Keyhole, Fahiakoba and Betenase

concessions, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.

For further information please contact:

Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: [email protected]

Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: [email protected]

2

Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: [email protected]

Additional information is available on our web site at: www.asantegold.com

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the

adequacy or accuracy of this release.