Asante Gold Appoints Non-Executive Director And Incentive Stock Options Announced

August 18, 2020

Vancouver, British Columbia – August 18, 2020 – Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9/U.S.OTC:ASGOF) (“Asante” or the “Company”) is pleased to announce that Dr. Roger Norwich has been appointed as a non-executive Director of the Company, and has been granted 350,000 incentive stock options for a five-year term at a price of $0.10 per share.

Dr. Norwich trained as a Geologist at Manchester University, United Kingdom, and is a significant shareholder in Asante. He has a track record developed over the last twenty years of assisting smaller precious metal companies grow into much larger scale producing enterprises.

As the founding director of Mexican Silver Mines Ltd., Dr. Norwich was involved in its merger into Rio Alto Mining and its development into a serious gold producer at the La Arena property in Peru including assisting in its TSX and NYSE listings and eventual sale in 2015 to Tahoe Resources Inc. for $1.12Billion.

Dr. Norwich was until very recently a director of Otis Gold Corp. (TSX-V:OOO) and helped develop a significant gold resource at its Kilgore property in Idaho, USA and is now on the Board of Excellon Resources Inc. (TSX:EXN) following the successful merger of the two companies in April 2020. Dr. Norwich is resident in the Channel Islands.

Dr. Norwich states: “My driving spirit is to help small gold companies become large ones and I am excited at the opportunity to engage with my new colleagues at Asante to expand and develop in the near term what I believe to be very prospective gold assets”.

On behalf of the Board, we heartily welcome Dr. Norwich to assist us in our growth in this new 2020 bull gold market. We also take this opportunity to extend our sincere wishes that all our shareholders, employees and their families remain healthy and safe in these difficult times.

“Douglas R. MacQuarrie”

President and CEO

About Asante Gold Corporation

Asante is continuing to source funding to expand and develop its Kubi Gold project to production, and is exploring the Keyhole, Fahiakoba and Betenase concessions/options for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.

For further information please contact:

Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: douglas@asantegold.com

Valentina Gvozdeva, Business Development, E-mail: valentina@asantegold.com

Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail:d.kent@eastlink.ca

Additional information is available on our web site at:www.asantegold.com

LEI Number: 529900F9PV1G9S5YD446.Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

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