Vancouver, British Columbia, October 14, 2021 – Asante Gold Corporation (CSE: ASE/FRANKFURT: 1A9/USOTC: ASGOF) (Asante or the Company) is pleased to announce that Metso Outotec has announced the results of its metallurgical testing program, which has completed From three composite drill samples from Kubi Main gold mineralization.

The results were very positive:

Gold can be easily accessed from relevant composite drill core samples via conventional cyanide leaching with an achievable gold recovery rate of over 90%.

– Improved yield (up to 97%) can be achieved by reducing ore grinding to 80%-53M. Fine grinding to 80%-10M showed a further increase in the overall gold recovery rate to 99%, based on the selected values ​​of the head content.

Samples are considered highly susceptible to quality improvement by gravity, with 59% to 38% of the gold recovered in the center of gravity in relevant gravity tests.

Appropriate improvement of gravity tailings quality was achieved by flotation with an average mass flow rate of 12%.

– The following average grades of gold were determined for the three mixtures: Mix 1: 6.6 g/t, Mix 2: 16.7 g/t and Mix 3: 11.4 g/t.

– Bond Ball Work Index ranged between 15.7 and 16.8 kWh/ton

Metso Outotec concluded that the test provided sufficient data to produce a conceptual operational level and a cost-of-capital study based on core drilling samples provided by Kubi. Metso Outotec is a leader in sustainable technologies, solutions and comprehensive services for the mineral processing, mineral refining and aggregate industries worldwide.

Asante is focused on bringing the Kubi gold mine back into production. Test work indicates that Kubi mineralization can help set up an on-site processing facility. Alternatively, the material can be brought to Bibiani, mixed with material from our Bibiani gold mine and processed at our 2.7 million tpa CIL facility in Bibiani.

Douglas R McCurry

President and CEO

The scientific and technical information in this press release has been edited by Douglas R. MacQuarrie, P.Geo. (BC) Geology and Geophysics, reviewed and approved by the Company’s President and CEO who is a qualified person under NI 43-101. Testing was performed by SGS South Africa in Randfontein, South Africa, under the supervision of Metso Outotec.

About Asante Gold

Asante is a pure gold prospecting and development company with a portfolio of high quality projects in Ghana, the largest and safest gold producer in Africa. We focus on developing high profit margin projects including the Bibiani Gold Development Projects (+4 million ounces of previous production) and the Kubi Gold Development projects located in the prolific Bibiani and Ashanti Gold Belts. The modernization of the processing plant at the Bibiani mine has begun and is expected to be completed in the third quarter of 2022. Asante has an experienced and knowledgeable team of miners, builders and operators who have collectively discovered and developed more than 24 million ounces of gold resources and reserves in Ghana. Asante is listed on the Canadian Stock Exchange and the Frankfurt Stock Exchange and recently announced plans to add its shares to Ghana. We are also looking for new discoveries in the Keyhole, Fahiakoba and Betenase projects; All of these projects are located near major gold mines near the center of Ghana’s Golden Triangle or are on strike. More information is available on our website at: www.asantegold.com.

For more information please contact:

Douglas McCurry, President and CEO, Tel: +1 604-558-1134; Email: [email protected]

Malik Issa, CEO, Email: [email protected]

Alec Rowlands, Capital Markets Advisor, Email: [email protected]

Valentina Gvozdeva, Business Development, email: [email protected]

Kirsti Mattson, Media Relations, Email: [email protected]

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