Asante Receives Second US$100 Million Advance from Fujairah, Provides Interim Financing Update
ASANTE RECEIVES SECOND US$100 MILLION ADVANCE
FROM FUJAIRAH, PROVIDES INTERIM FINANCING UPDATE
Vancouver, British Columbia, June 2, 2025 – Asante Gold Corporation ( CSE: ASE | GSE: ASG |
FRANKFURT:1A9 | U.S.OTC: ASGOF) (“Asante” or the “Company”) is pleased to announce that it has
received the second US $100 million advance from Fujairah Holdings LLC (the “Second Advance”) , as
scheduled under the G old Forward Agreement (the “Gold Forward Agreement”) described in the
Company’s news release of December 19, 2024. Asante has also secured a US $10 million bridge loan
facility (the “Bridge Loan”) from a leading financial institution in Ghana, which is expected to make a
substantially larger credit commitment as part of the Company’s final capital structure.
The US$110 million proceeds of the Second Advance and the B ridge Loan will be used to advance the
ongoing pit expansion at the Bibiani Mine, as well as the completion of the sulphide treatment plant, with
commissioning to commence in July 2025. The funds will also provide working capital support pending
the completion of the Company’s financing process.
The Company is also pleased to provide an interim update on its previously announced financing process.
To date, conditional credit commitments in an aggregate amount of more than US $250 million have been
received. The Company will provide a further announcement in due course upon the finalization of key
commercial terms and conditions, and the selection of financing partners following final credit approvals.
Although there is no certainty that such financing initiatives will be completed, the Company is confident
that it will be able to do so by the end of July 2025, as noted in its news release of May 5, 2025.
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 Canadian
Securities Exchange and the Ghana 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: timing of the completion of
the balance of the Gold Forward Agreement, statements relating to funding initiatives and the Company’s
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proposed financing package disclosed on May 5, 2025, projections of gold production, progression of the
sulphide treatment plant at the Company’s Bibiani mine, and the intended use of proceeds of the Second
Advance. 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 process ed; 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 disruptions 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 necessary capital or to be fully able to implement its business 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 Company
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.