Asanko Gold Announces Positive Metallurgical Results from Dynamite Hill

Highlights:  

• Positive  metallurgical  test  work  results  from  the  newly  discovered,  near  surface  Dynamite  Hill  deposit.
• Strong  leach  kinetics  and  overall  gold  recovery  averaging  95%.
• Confirms  Dynamite  Hill  deposit  will  blend  well  with  the  other  Asanko  Gold  Mine  ores.

Vancouver,  British  Columbia,  July  29  2014  –  Asanko  Gold  Inc.  (“Asanko”  or  the  “Company”)  (TSX,  NYSE   MKT:  AKG)  is  pleased  to  announce  positive  results  from  the  metallurgical  test  work  program  conducted  on the  Dynamite  Hill  deposit.  Dynamite  Hill  is  a  recently  discovered  near  surface  deposit  located  7  km  from  the processing   facility,   set   to   begin   construction   next   month,   at   the   Company’s   flagship   Asanko   Gold   Mine (“AGM”  or  the  “Project”)  in  Ghana.

The   metallurgical   test   work   program,   conducted   by   Metallurgy   Pty   Ltd   in   Western   Australia,   was undertaken  to  assess  the  gravity  and  cyanide  leach  amenability  of  the  oxide,  transitional  and  fresh  material from  the  Dynamite  Hill  deposit,  as  well  as  the  comminution  characteristics.

The  results  have  confirmed  that  the  material  from  the  deposit  presents  consistent  and  similar  leach  kinetics to  the  other  deposits  which  make-­‐up  the  Project.  It  is  expected  that  the  Dynamite  Hill  material  will  blend well   with   the   ore   from   the   other   four   Phase   1   Project   pits;   Nkran,   Adubiaso,   Abore   and   Asuadai   and confirms   that   the   standard   gravity   and   Carbon-­‐in-­‐Leach   processing   facility   designed   for   Phase   1   is appropriate  for  treating  material  from  Dynamite  Hill.

Results  of  metallurgical  testing  show  that  the  gold  recovery  averages  between  93.2  and  96.2%  across  the various   mineral   types   with   an   average   of   95%.   Gravity   gold   separation   test   work   indicates   that approximately  50%  of  the  gold   is   expected   to   be   recovered   in   the   gravity   circuit.     Comminution   testing indicates  that  the  Bond  work  index  varies  between  10  kWh/t  for  softer  oxide  ore  and  16  kWh/t  for  the harder  fresh  material,  which  is  a  similar  range  as  the  other  deposits  at  the  Project.

A  maiden  Mineral  Resource  Estimate  (“MRE”)  for  Dynamite  Hill  is  currently  being  compiled  by  the  Company and   is   expected   to   be   published   in   September   2014,   along   with   a   definitive   mine   plan   which   will   be included   as   part   of   the   overall   Definitive   Project   Plan   for   Phase   1.     As   the   Dynamite   Hill   mineralisation occurs  at  or  near  surface,  minimal  pre-­‐stripping  requirements  are  anticipated.

Following  completion  of  the  MRE  and  definitive  mine  plan,  a  modification  to  the  existing  Mine  Operating Permit  will  be  sought  prior  to  commencement  of  mining  activity  at  Dynamite  Hill,  which  is  anticipated  in  Q3 2015.

Enquiries:  

For  further  information  please  visit  www.asanko.com  or  contact:

Alex  Buck,  Manager  –  Investor  Relations   Greg  McCunn,  Chief  Financial  Officer Telephone:  +44-­‐7932-­‐740-­‐452   Telephone:  +1-­‐778-­‐729-­‐0604 Email:  [email protected]   Email:  [email protected]

General  [email protected]

About  Asanko  Gold  Inc.  

Asanko’s  vision  is  to  become  a  mid-­‐tier  gold  mining  company  that  maximizes  value  for  all  its  stakeholders. Asanko’s  flagship  project  is  the  fully  financed  and  permitted,  multi-­‐million  ounce  Asanko  Gold  Mine  Project located  in  Ghana,  West  Africa.  The  mine  will  be  developed  in  phases.    Phase  1  has  been  approved  and construction  will  commence  in  Q3  2014,  with  first  gold  is  targeted  in  Q1  2016.

Asanko  is  managed  by  highly  skilled  and  successful  technical,  operational  and  financial  professionals.  The Company   is   strongly   committed   to   the   highest   standards   for   environmental   management,   social responsibility,  and  health  and  safety  for  its  employees  and  neighbouring  communities.

Forward-­‐Looking  and  other  Cautionary  Information

This   release   includes   certain   statements   that   may   be   deemed   "forward-­‐looking   statements".   All   statements   in   this   release,  other  than  statements  of  historical  facts,  that  address  estimated  resource  quantities,  grades  and  contained   metals,  possible  future  mining,  exploration  and  development  activities,  are  forward-­‐looking  statements.  Although  the   Company  believes  the  forward-­‐looking  statements  are  based  on  reasonable  assumptions,  such  statements  should  not   be  in  any  way  construed  as  guarantees  of  future  performance  and  actual  results  or  developments  may  differ  materially   from  those  in  the  forward-­‐looking  statements.  Factors  that  could  cause  actual  results  to  differ  materially  from  those  in   forward-­‐looking   statements   include   market   prices   for   metals,   the   conclusions   of   detailed   feasibility   and   technical   analyses,  lower  than  expected  grades  and  quantities  of  resources,  mining  rates  and  recovery  rates  and  the  lack  of   availability  of  necessary  capital,  which  may  not  be  available  to  the  Company  on  terms  acceptable  to  it  or  at  all.  The   Company   is   subject   to   the   specific   risks   inherent   in   the   mining   business   as   well   as   general   economic   and   business   conditions.  For  more  information  on  the  Company,  Investors  should  review  the  Company's  annual  Form  20-­‐F  filing  with   the  United  States  Securities  Commission  and  its  home  jurisdiction  filings  that  are  available  at  www.sedar.com.  

Neither  Toronto  Stock  Exchange  nor  the  Investment  Industry  Regulatory  Organization  of  Canada  accepts  responsibility   for  the  adequacy  or  accuracy  of  this  release.  

Cautionary  Note  to  US  Investors  Regarding  Mineral  Reporting  Standards:  

Asanko  has  prepared  its  disclosure  in  accordance  with  the  requirements  of  securities  laws  in  effect  in  Canada,  which   differ  from  the  requirements  of  US  securities  laws.  Terms  relating  to  mineral  resources  in  this  press  release  are  defined   in  accordance  with  National  Instrument  43-­‐101  -­‐  Standards  of  Disclosure  for  Mineral  Projects  under  the  guidelines  set   out   in   the   Canadian   Institute   of   Mining,   Metallurgy,   and   Petroleum   Standards   on   Mineral   Resources   and   Mineral   Reserves.    The  Securities  and  Exchange  Commission  (the  “SEC”)  permits  mining  companies,  in  their  filings  with  the  SEC,   to  disclose  only  those  mineral  deposits  that  a  company  can  economically  and  legally  extract  or  produce.    Asanko  uses   certain  terms,  such  as,  “measured  mineral  resources”,  “indicated  mineral  resources”,  “inferred  mineral  resources”  and   “probable  mineral  reserves”,  that  the  SEC  does  not  recognize  (these  terms  may  be  used  in  this  press  release  and  are   included   in   the   public   filings   of   Asanko   which   have   been   filed   with   securities   commissions   or   similar   authorities   in   Canada).