Asanko GOLD Fast Tracks Mining at Akwasiso
PRESS RELEASE
ASANKO GOLD FAST TRACKS MINING AT AKWASISO
Highlights:
Akwasiso to be fast tracked ahead of Dynamite Hill and will commence ore mining in June 2017,
following approval by the Ghanaian Regulatory Authorities
Decision to fast track mining of Akwasiso driven by its proximity to the processing facility, lower capital
entry costs and higher oxide volumes which can be mined and processed at lower costs than current
Nkran operations
Dynamite Hill re‐scheduled to commence mining in Q1 2018, in line with the original Akwasiso timing
Environmental Permits received for Dynamite Hill, Nkran Extension and Adubiaso Extension
Expansion Definitive Feasibility Study nearing completion and will be published on June 5, 2017, along
with updated life of mine plan for all 11 pits comprising the Asanko Gold Mine complex
Vancouver, British Columbia, May 23, 2017 – Asanko Gold Inc. (“Asanko” or the “Company”) (TSX, NYSE
MKT: AKG) is pleased to announce the commencement of mining operations at the Akwasiso deposit, part of
the Asanko Gold Mine (“AGM”), located in Ghana, West Africa, following approval by the Ghanaian Regulatory
Authorities to commence mining.
The decision to accelerate the mining of Akwasiso ahead of Dynamite Hill is due to receipt of regulatory
approval and follows the recent successful completion of an in‐fill drill program that substantially increased
Measured Reserves by 62% to 214,500 contained ounces of gold. In addition, the deposit is four kilometres
closer to the processing facility thereby reducing transport costs and site establishment costs as well as being
higher grade and larger than Dynamite Hill, enabling greater mining flexibility.
Located approximately three kilometres north east of the processing facility, Akwasiso is the largest satellite
deposit and being at surface requires minimal pre‐strip or development work. Mining operations will focus
initially on the oxide ore, which will augment the ore feed to the existing processing facility as the volumetric
upgrades come online as part of the Project 5 Million (“P5M”) upgrade to 5Mtpa. In line with our Corporate
Social Responsibility strategy, the mining contract has been awarded to a local Ghanaian mining contractor
who has been mobilized with both road and site preparations already underway. First ore is expected to be fed
to the plant in June 2017. Dynamite Hill has now been re‐scheduled to commence mining in Q1 2018, in line
with the original Akwasiso timing.
Full details of the mining rates, grades and strip ratio for Akwasiso will be included in the updated life of mine
plan, which will be published as part of the Expansion Definitive Feasibility Study which will be released on June
5, 2017.
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Peter Breese, President and CEO, commented “With the successful in‐fill drill program completed and timely
approval from the regulatory authorities, it made perfect sense to accelerate Akwasiso ahead of Dynamite Hill
given its proximity to the plant, lower capital costs and that it is a larger and higher grade deposit than
Dynamite Hill. The local mining contractor has already mobilized to site with road construction and site
preparation at an advanced stage. First ore from Akwasiso is due in June 2017 and we expect the mining and
processing costs of this ore to be considerably cheaper than the current hard rock operations at Nkran.
We continue to see 2017 as a year of two halves with the true benefit of Akwasiso to be realized in H2 as we
leverage the benefits of Akwasiso’s oxide material through the volumetric upgrades in the processing facility
that are tracking well ahead of schedule.”
Asanko is also pleased to announce that the Ghanaian Environmental Protection Agency has issued the
Environmental Permits for Dynamite Hill, Nkran Extension and Adubiaso Extension. Receipt of these permits
completes the permitting process for these satellite deposits, which are now ready for mining operations.
Enquiries:
For further information please visit: www.asanko.com, email: [email protected] or contact:
Alex Buck ‐ Manager, Investor and Media Relations
Toll‐Free (N.America): 1‐855‐246‐7341
Telephone: +44‐7932‐740‐452
Email: [email protected]
Ryan Walchuck ‐ VP Corporate Development and Investor Relations
Telephone: +1 778 986‐2000
Email: [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. The
Company’s flagship project is the multi‐million ounce Asanko Gold Mine located in Ghana, West Africa. The
mine is being developed in phases. Phase 1 commenced gold production in January 2016 and declared
commercial production on April 1, 2016. Ramp‐up to steady state production was achieved in Q2 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, the timely
renewal of key permits, 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
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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 40‐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).