Start Of Mining At Russel Starter Pit - Bibiani Gold Mine

VANCOUVER - Asante Gold Corporation reported that following receipt of all necessary permits from Ghanaian authorities, delivery of first mineralized material from the Russel Starter Pit to the Process Plant at the Bibiani Gold Mine, in Ghana, has been achieved. Located 3.8 kilometres from the Bibiani process plant, the Russel deposit contains 119,000 ounces of measured and indicated gold resources (open pit) at a grade of 1.80 grams per tonne*, with mineralogy similar to the Bibiani Main Pit.

“This is the third satellite pit explored, defined and optimized by Asante since acquiring the Bibiani properties, and the start of production at Russel represents another successful milestone on our journey to grow Asante’s production to more than 500,000 ounces by 2028,” stated Dave Anthony, President and CEO, who added, “Approval for mining at Russel follows other major catalysts, including the re-routing of the Bibiani-Goaso highway, which will allow us to access additional oxide mineralized material, and further progress on the construction of the Bibiani sulphide treatment plant. Once fully ramped-up, Bibiani-Chirano will be the seventh largest gold producing district in Africa and the only Tier One Gold District in Africa held outside of a major gold producer.”