Asante Gold Corporation announced the extension of the Grasshopper Pit mineral resource estimate (MRE). The Grasshopper Pit is within the Bibiani Mining Lease and located less than 2km north of the Bibiani processing plant. Asante commenced mining at the Grasshopper Pit Second Quarter 2023.

Highlights: Resource definition drilling results confirm consistency of low-grade high tonnage mineralization mainly within the oxide transition material representing immediately accessible mineralized material with high recovery rates. Constrained Indicated Resources of 1.88Mt @ 1.04 g/t for 56.5koz of contained gold within an optimal pit shell of USD 1,850/oz gold price. The MRE for Grasshopper is supported by approximately 10,000m of historical drilling and 8,800m of recent drilling.

Multiple shoots of mineralization are open along strike and down plunge beyond the USD1,850 pit shell. Further drilling is planned with potential to grow the mineral resource beyond the current pit shell. Majority of mineralized material from the Grasshopper Pit is within the oxide transition zone and expected to yield gold recovery above 90%.

Starter pit development and mining commenced in second quarter 2023. Gold mineralization is associated with the sheared metasedimentary sequence bounded by well-defined footwall and hanging wall structures. The effective date of the MRE for Grasshopper is November 25, 2022.

The model was undertaken by the technical team of Mensin Gold Bibiani Limited and was reviewed by Kwamina Ackun-Wood, the former Exploration Manager and Qualified Person as defined by NI 43-101.