Asante Updates M&I Resource To 4.6 Million Ounces At Bibiani And Chirano Gold Mines

Vancouver, British Columbia, 5 August 2026 – Asante Gold Corporation (TSXV: ASE | GSE: ASG | OTCQX: ASGOF) (“Asante” or the “Company”) is pleased to announce the filing of updated independently coordinated and prepared NI 43-101 technical reports for its Bibiani and Chirano Gold Mines in Ghana (effective 31 December 2025). These reports supersede the respective technical reports for Bibiani and Chirano filed on 30 April 2024 (effective 31 December 2023). Mineral Resources for both operations have been estimated using a gold price assumption of US$2,500/oz, and Mineral Reserves US$2,100/oz.

HIGHLIGHTS

Consolidated Resource Base

4.6 Moz Measured and Indicated (“M&I”) Mineral Resources across Bibiani and Chirano (inclusive of Mineral Reserves), in line with December 2023 level despite depletion and production over 430 koz in the aggregate two-year period.
1.8 Moz Inferred Mineral Resources across both operations, providing a strong near-term conversion pipeline with active drilling programmes targeting further additions through 2026.
Both Mineral Resource bases remain open at depth and along strike, with current definition extending to only approximately 300-700m below surface across the +80km Chirano-Bibiani Corridor (“CBC”).
The CBC comprises two principal, parallel Mineralized structures, the Bibiani Shear Zone (“BSZ”) and Chirano Shear Zone (“CSZ”), together defining one of West Africa’s most prospective yet historically underexplored gold corridors.

Chirano Gold Mine

2.53 Moz M&I Mineral Resources (40.01 Mt at 1.96 g/t Au, inclusive of Mineral Reserves) and 830 koz Inferred Mineral Resources (13.8 Mt at 1.87 g/t Au).
Mineral Reserves of 1.30 Moz (23.69 Mt at 1.71 g/t Au) support a current seven-year Life of Mine plan.
More than replaced production depletion with an increase of 443 koz in M&I Mineral Resources and 244 koz in Mineral Reserves (relative to December 2023), net of two years of gold mined.
Approximately 66,900 metres of reverse circulation (“RC”) and diamond drilling saw key additions across Obra, Sariehu, Suraw, and Akoti South; validates clear potential of the CSZ, which spans 13 deposits across a ~15 km strike.
Obra Underground remains the priority depth target along the CSZ, with a north-plunging high-grade shoot that is widening and increasing in grade at depth.
“North Mine” open pit concept being evaluated across the Obra, Sariehu and Mamnao deposits, with infill drilling successfully demonstrating mineralization between these deposits.
2026 drilling targeting further depth and strike extensions at Obra, Suraw, Sariehu, Tano and the Obra-Sariehu gap.

Bibiani Gold Mine

2.06 Moz M&I Mineral Resources (30.83 Mt at 2.08 g/t Au, inclusive of Mineral Reserves) and 965 koz Inferred Mineral Resources (16.25 Mt at 1.85 g/t Au).
Mineral Reserves of 1.53 Moz (23.75 Mt at 2.00 g/t Au) support a current nine-year Life of Mine plan.
Mineral Reserves and M&I Resources declined 22% and 17% respectively, reflecting open-pit depletion of 111,000 oz, constrained exploration budget relative to Chirano, and model refinements to Main Pit; a revitalised FY2027 drilling programme is planned to rebuild the resource pipeline.
Approximately 43,000 metres of near-mine RC and diamond infill, extensional and exploration drilling undertaken during 2024-2025 across the Main Pit, Russel South and seven key satellite targets.
This drilling has confirmed potential for further extensional open pit and underground Mineral Resource definition and mining opportunities at Bibiani.
Main Pit remains open at depth to at least 1,400m below surface, with North, Central and South Deeps targets planned in 2026-2027 to test depth potential up to 1,600m.

Malik Easah, Chairman of Asante, commented:

“These updated, independently coordinated and prepared technical reports underscore the inherent quality of Asante’s geological endowment in the Chirano-Bibiani Corridor, and reinforce the thesis for long-term potential at our Chirano and Bibiani operations. Despite mineral inventory depletion from producing over 430,000 ounces across both mines in the past two years, we have maintained our combined Measured and Indicated Resource base. This is a reassuring reflection of the quality of our near-mine exploration pipeline at both Bibiani and Chirano. At Bibiani specifically, exploration activity was constrained over the 2024-2025 period, however, enhanced exploration budget is planned going forward to rebuild that pipeline. Both assets remain open at depth along the more than 80-kilometre Chirano-Bibiani Corridor, which is largely untested by drilling below 300 to 700 metres depth. At Bibiani in particular, the Main Pit is believed to be open to at least 1,400 metres below surface. This represents significant further upside potential for our future underground mine planning at Bibiani. With a 4.6 million ounce Measured and Indicated Resource base as our foundation, Asante’s core focus as a company is to vigorously pursue its ongoing operational improvements at both assets and to thereby translate this geological opportunity into value for shareholders.”

GROUP MINERAL RESOURCES – BIBIANI AND CHIRANO – as at 31 December 2025

	M&I Resources (koz)	Inferred Resources (koz)	Mineral Reserves (koz)
Chirano	2,531	830	1,303
Bibiani	2,064	965	1,527
Group Total	4,595	1,795	2,830