One Year Extension to Expiry Date of Warrants

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

FOR IMMEDIATE RELEASE

Vancouver, British Columbia – January 15, 2016 – Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9) (the "Company") announces that the Company has extended the expiry date of 2,000,000 share purchase warrants, originally exercisable at a price of $0.70 per share for two years, for an additional year to February 28, 2017.

On behalf of the Board, "Douglas R. MacQuarrie"

President and CEO

About Asante

Asante Gold Corporation (CSE:ASE/FRANKFURT:1A9) is continuing to assess the Kubi Gold Mine Option as a high grade underground, direct shipping and toll milling operation; and it is exploring the Betanase concession optioned from Perseus Mining (Ghana) Limited and its 100% owned Fahiakoba concession, all located 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] Kirsti Mattson, Media Relations, tel: +1 778-434-2241; E-mail: [email protected] Florian Riedl-Riedenstein, Director; 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.