Goknet Obotan Royalty Transaction not Proceeding Private Placement Cancelled

August 27, 2014

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

Vancouver, British Columbia - August 27, 2014 - Asante Gold Corporation (TSX.V:ASE/ FRANKFURT:1A9) (the “Company”) announces that it has received notice from Goknet Mining Company Limited of Accra, Ghana (“Goknet”) that it has entered into a settlement agreement with Asanko Gold Inc. (“Asanko”) which eliminates Goknet’s claim for a 2% net smelter return (“NSR”) royalty on Asanko’s Asanko Gold Mine (formerly PMI Gold Corporation’s Obotan Gold Project) and that the proposed royalty transaction with the Company announced on November 8, 2012 is cancelled.

In addition, the Company announces that the private placement funding of up to $550,000 announced on May 15, 2014 as amended June 27, 2014, will not be proceeding.

On behalf of the Board,
“Douglas R. MacQuarrie”
President and CEO

About Asante Gold Corporation

Asante Gold Corporation (TSX.V:ASE/FRANKFURT:1A9) is a Vancouver based gold company, exploring the Fahiakoba Concession located in the centre of Ghana’s Golden Triangle between Perseus Mining’s Edikan mine, and AngloGold Ashanti’s Obuasi mine.

For further information please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: douglas@asantegold.com
Jag Sandhu, Director, Corporate Development, tel: +1 604-306-1950
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: d.kent@eastlink.ca
Kirsti Mattson, Media Relations, tel: +1 778-434-2241; E-mail: kirsti.mattson@gmail.com
Europe: Florian Riedl-Riedenstein, Director; E-mail: frram@aon.net

This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements.

We Seek Safe Harbour.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Back to the Goknet Obotan Royalty Transaction Not Proceeding Private Placement Cancelled page

.