According to Asante Gold Corporation, long lead equipment for the Sulphide Recovery Plant, which is supposed to be installed at the Bibiani Gold Mine (also known as “Bibiani”), is anticipated to be supplied in the middle of August 2024.

According to the 2024 Bibiani Technical Report, this facility is essential to the company’s ambitions to increase gold production at Bibiani to more than 250,000 ounces annually, with a cumulative production of 1.2 million ounces of gold over the next five years, all with lower all-in sustaining costs (“AISC”).

Installation of the Sulphide Recovery Plant is expected to improve gold recovery and have significant impact on the all in sustaining cost per ounce produced (AISC) and profit margins at Bibiani. Gold recovery from sulphide ore is expected to increase from 70% to approximately 92%.

The Company has made substantial progress toward completion of the Sulphide Recovery Plant with 50% of the civil works for the project completed. Fabrication of the long lead equipment has been completed and the items are currently being prepared for shipment to the Bibiani site, with arrival expected mid August 2024.

Asante anticipates producing about 20,000 ounces of gold per month at Bibiani upon completion of the Sulphide Recovery Plant, in accordance with the Company’s long-term plan for the mine. Asante strives to enhance and maximize its operational mines, the company anticipates the completion of the Sulfuride Recovery Plant.

About Asante Gold Corporation

Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.