Ghana Now Africa’s Top Gold Producer

PRIVATE PLACEMENT ANNOUNCED ” data-reactid=”12″>PRIVATE PLACEMENT ANNOUNCED

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Asante Gold Company (CSE:ASE/ FRANKFURT:1A9) (“Asante” or the “Firm”) notes that Ghana has overtaken South Africa as the biggest gold producer in Africa, producing some four.eight Moz in 2018 vs four.2 Moz in South Africa, in response to Bloomberg1. Ghana’s manufacturing is ready to extend once more with the upcoming re-start of the AngloGold Ashanti Obuasi mine (66 Moz world gold useful resource) with an annual manufacturing goal of +350koz. Our Kubi Gold Mine mission is situated simply 16km south of the Obuasi mine alongside the prolific Ashanti Gold Belt.
” data-reactid=”15″>VANCOUVER, British Columbia, June 10, 2019 (GLOBE NEWSWIRE) — Asante Gold Company (CSE:ASE/ FRANKFURT:1A9) (“Asante” or the “Firm”) notes that Ghana has overtaken South Africa as the biggest gold producer in Africa, producing some four.eight Moz in 2018 vs four.2 Moz in South Africa, in response to Bloomberg1. Ghana’s manufacturing is ready to extend once more with the upcoming re-start of the AngloGold Ashanti Obuasi mine (66 Moz world gold useful resource) with an annual manufacturing goal of +350koz. Our Kubi Gold Mine mission is situated simply 16km south of the Obuasi mine alongside the prolific Ashanti Gold Belt.

four. Preliminary analysis signifies that:” data-reactid=”17″>The revolutionary SMD technique has many benefits over standard slim underground mining methods and seems nicely suited to the +5g/t Kubi Gold fashion mineralization4. Preliminary analysis signifies that:

SMD is low CAPEX – a number of SMD drills might be contractor leased, no expensive processing plant to construct, no crushing, grinding or CIL/cyanide circuit, or tailings dams requiredNo underground improvement, minimizing allowing and building time and costsEarly money movement from direct on-site restoration of gold from low CAPEX gravity circuit; tails to be dewatered, sampled, trucked off-site and offered to native processing plantsProduction is scalable – every SMD drill estimated to provide +100 tonnes per dayNo open cuts, pre-stripping or pit backfilling, no villages to maneuver, giving minimal environmental impactProduction is from direct drilling of ~2.5m diameter holes, to be backfilled on completion with cemented waste, and revegetatedEnvironmentally Inexperienced – SMD drills could be electrical, powered by photo voltaic farm with mains grid storage and draw downLow OPEX – preliminary estimates point out lower than half of standard underground mining prices or circa 2g/t gold at present gold pricesIncreased employee security – no employees underground

Douglas MacQuarrie, President & CEO states, “Asante is worked up concerning the potential for this new ‘disruptor’ expertise to rework Kubi from a gold deposit to a gold producer. Just like the invention of hydraulic fracking turned beforehand uneconomic fuel and oil deposits into extremely financial manufacturing, so SMD mining has the potential to unlock main worth within the slim, onerous rock mining house. We are going to proceed to carefully monitor developments as they happen.”

The Firm additionally publicizes a personal placement to accredited traders (“Non-public Placement”) on a finest efforts foundation, of as much as 5,000,000 models at $zero.05 per unit (every a “Unit”) for mixture gross proceeds of as much as $250,000.

Every Unit will consist of 1 widespread share of the Firm (a “Widespread Share”), and one Widespread Share buy warrant (a “Warrant”). Every Warrant will entitle the holder to buy one further Widespread Share at an train worth of $zero.08 at any time throughout the 36 months following the preliminary cut-off date. Every Warrant will likely be topic to compelled conversion which comes into impact as soon as the shares commerce at a quantity weighted common worth of $zero.20, for 20 consecutive buying and selling days. The expiry date of the Warrants will likely be 30 days from the date of subject of a information launch asserting the compelled conversion. The Firm is counting on exemptions from the prospectus necessities and relevant securities legal guidelines to subject the shares. Proceeds from the non-public placement will likely be used for common working capital functions. All securities bought below this providing will likely be topic to a 4 month and at some point maintain interval.

Administrators and officers of the Firm might take part within the non-public placement. Any such participation could be thought of to be a “associated get together transaction” as outlined below Multilateral Instrument 61-101 (“MI 61-101”). The transaction could be exempt from the formal valuation and minority shareholder approval necessities of MI 61-101 as neither the truthful market worth of any models issued to or the consideration paid by such individuals wouldn’t exceed 25% of the Firm’s market capitalization.

President and CEO

http://www.asantegold.com/news/asante-gold-explores-new-mining-technology-for-kubi-gold-project-ghana” data-reactid=”35″>Asante is constant to develop its Kubi Gold Mine mission in direction of manufacturing, and is exploring its Keyhole, Fahiakoba and Betenase concessions/choices for brand spanking new discoveries, all adjoining or alongside strike of main gold mines close to the centre of Ghana’s Golden Triangle. Please see Asante Gold press launch dated March 11, 2019 on SMD at: http://www.asantegold.com/information/asante-gold-explores-new-mining-technology-for-kubi-gold-project-ghana

https://www.bloomberg.com/news/articles/2019-06-09/nation-built-on-gold-loses-its-african-crown-to-rival-ghana
2 https://disruptmining.com/, 2019; and https://www.anacondamining.com/narrow-vein-mining, 2019.
three https://im-mining.com/tag/inclined-mast-drilling-rig/
four http://www.asantegold.com/assets/docs/kubi-ni43-101-tech-report.pdf” data-reactid=”36″>1 https://www.bloomberg.com/information/articles/2019-06-09/nation-built-on-gold-loses-its-african-crown-to-rival-ghana
2 https://disruptmining.com/, 2019; and https://www.anacondamining.com/narrow-vein-mining, 2019.
three https://im-mining.com/tag/inclined-mast-drilling-rig/
four http://www.asantegold.com/belongings/docs/kubi-ni43-101-tech-report.pdf

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four Kubi Important Zone has a present NI 43-101 useful resource estimate, accomplished by SEMS Exploration Providers Ltd. of Accra, Ghana: Measured Assets zero.66 million tonnes @ 5.30g/t for 112,000 ounces; Indicated Assets zero.66 million tonnes @ 5.65g/t for 121,000 ounces; and Inferred Assets zero.67 million tonnes @ 5.31g/t for 115,000 ounces, which is filed on SEDAR. Mineral sources that aren’t mineral reserves wouldn’t have demonstrated financial viability. ” data-reactid=”41″>Scientific and technical data contained on this information launch has been reviewed and accepted by Douglas R. MacQuarrie, P.Geo. (B.C.) Geology & Geophysics, the President and CEO of the Firm, who’s a “certified individual” below NI 43-101.four Kubi Important Zone has a present NI 43-101 useful resource estimate, accomplished by SEMS Exploration Providers Ltd. of Accra, Ghana: Measured Assets zero.66 million tonnes @ 5.30g/t for 112,000 ounces; Indicated Assets zero.66 million tonnes @ 5.65g/t for 121,000 ounces; and Inferred Assets zero.67 million tonnes @ 5.31g/t for 115,000 ounces, which is filed on SEDAR. Mineral sources that aren’t mineral reserves wouldn’t have demonstrated financial viability.

This information launch might comprise forward-looking data and statements regarding, amongst different issues, the dimensions and the expansion of the Firm’s mineral sources and the timing of additional exploration, the event of the SMD mining method, and of the Firm’s tasks. There may be no assurance that the plans, intentions or expectations upon which these forward-looking statements and data are primarily based will happen, and are topic to quite a lot of dangers, uncertainties and assumptions. A few of the components which might have an effect on future outcomes and will trigger outcomes to vary materially from these expressed within the forward-looking data and statements contained herein embrace: commodity and market costs, exploitation and exploration successes, continued availability of capital and financing and common financial, market, enterprise or governmental situations. Ahead-looking data relies on the beliefs, estimates and opinions of administration on the date the statements are made and are topic to vary with out discover. Buyers are cautioned that remaining closing of the Kubi Mining Lease buy, Betenase and Keyhole choices are depending on further governmental renewals, approvals, consents and financings, which although moderately anticipated, will not be in the end obtained.

douglas@asantegold.com
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: d.kent@eastlink.ca
Valentina Gvozdeva, Enterprise Improvement, E-mail: valentina@asantegold.com
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: frram@aon.net” data-reactid=”43″>For additional data please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: douglas@asantegold.com
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: d.kent@eastlink.ca
Valentina Gvozdeva, Enterprise Improvement, E-mail: valentina@asantegold.com
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: frram@aon.internet

www.asantegold.com
Additional data on Kubi is offered at: http://www.asantegold.com/projects/kubi-gold-mine” data-reactid=”44″>Extra data is offered on our web page at: www.asantegold.com
Additional data on Kubi is offered at: http://www.asantegold.com/tasks/kubi-gold-mine

LEI Quantity: 529900F9PV1G9S5YD446

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