One Year Extension to Expiry Date of Warrants

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 SHARES ISSUED: 57,160,221

Vancouver, British Columbia – October 16, 2018 – Asante Gold Corporation ( CSE:ASE/

FRANKFURT:1A9/OTC:ASGOF) (“Asante Gold” or the “ Company”) announces that the

Company has extended the expiry date of 1,160,821share purchase warrants for an additional year.

All the other terms and exercise conditions of the warrants remain the same as issued.

WARRANT

SERIES

NUMBER

NUMBER OF

WARRANTS

IN SERIES

EXERCISE

PRICE

(unchanged)

ORIGINAL

EXPIRY DATE

NEW EXPIRY

DATE

Oct 2016-W-001

to 004; 007

962,655 $0.25 20 OCT 2018 20 OCT 2019

Oct 2016-AW-

001, 002

98,166 $0.25 20 OCT 2018 20 OCT 2019

US-WA-2016-

OCT 2016 –

W005, 006

100,000 $0.15 20 OCT 2018 20 OCT 2019

On behalf of the Board

"Douglas R. MacQuarrie"

President and CEO

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]

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

Valentina Gvozdeva, Business Development, E-mail: [email protected]

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

LEI Number: 529900F9PV1G9S5YD446

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

adequacy or accuracy of this release.