Asante Gold Corporation announced additional results from its ongoing exploration drilling program at the Aboduabo prospect located on Bibiani - Chirano mines corridor, Sefwi Greenstone Belt, Ghana. The Company announced initial exploration results at Aboduabo on January 17 and February 8, 2023. From the start of exploration by Asante, 50 drill holes totaling 11,950m have been completed.

These are focused on mineralization extensions along strike and down plunge. These latest results extend the footprint of the prospect to the north, to approximately one kilometer in length. There are significant intercepts down plunge in multiple mineralized structures, which highlight the strong upside potential of the deposit.

All drill holes to date have been mineralized. The intercepts are consistent with those previously encountered in both grade, thickness and gold mineralization. The prospect remains open along strike and at depth, within favorable geology.

The Aboduabo prospect is located approximately 5km north of the Chirano Mine Process Plant and 10km south of the Bibiani Mine Process Plant. Aboduabo is 7 km south ofRussel South deposit. Aboduabo lies within the Bibiani mineralized trend and is hosted in Birimian sedimentary rock sequences.

The Chirano gold deposits are primarily hosted in Birimian volcanic and granitoid sequences along the sub parallel Chirano trend. The Sefwi Greenstone Belt is host to historically significant gold mining operations including Bibiani and Chirano mines which have produced +8Moz to date from shear faults and veins. Asante controls a 53km long by up to 5km wide corridor which is transected by the Bibiani and Chirano shear zones.

Bibiani and Chirano together have current mineral reserves of 2.8Moz and Measured and Indicated mineral resources of over 4.5Moz.