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  • The Minerals Commission of Ghana has recommended that eight concessions be approved for transfer to Asante
  • All licenses are being acquired from Goknet Mining Company Limited
  • Extensive work programs have been completed and areas with initial discovery drill holes have been outlined for further follow-up
  • Asante Gold will issue 375,000 fully paid common shares for each of the PL’s to a maximum of 3,000,000 shares
  • Asante has announced plans to co-list its shares on the Ghana Stock Exchange and is sourcing funding to develop its Kubi Gold Mine project
  • Asante Gold Corporation (ASE) is a Canadian-based gold exploration and development company
  • Asante Gold Corporation is up 5.36 per cent, trading at C$0.295 per share at 11:30 am ET

Asante Gold Corporation (ASE) has received notice from the Minerals Commission of Ghana that eight concessions have been recommended for transfer to Asante.

These licenses are comprised of the Diaso (104.1km), Juabo (59.2 km), Manhia (18.69km), Dunkwa Gyimigya (32.72km), Gyimigya (5.52km), Agyaka Manso (40.0km), Amuabaka (28.86km) and Nkronua-Atifi (24.97km).

All licenses are being acquired from Goknet Mining Company Limited.

The concessions were explored by Canadian exploration juniors Nevsun Resources, Tri-Star Gold and Golden Rule Resources in the late 1990s, and most recently by PMI Gold Corporation (now Galiano Gold) from 2002 thru August 2014 when rights to the land were acquired by Goknet.

Extensive work programs including airborne surveys, ground geophysics, soil sampling, auger, aircore, reverse circulation and diamond drilling, and advanced exploration/structural interpretations have been completed. Multiple areas with initial discovery drill holes have been outlined for further follow-up by Asante.

The Juabo, Diaso and Manhia concessions are contiguous/on strike with our Keyhole Gold project, an area that has been the subject of extensive alluvial mining over a 7km length over the past 40 years.

Their acquisition will finally allow the company to commence an aggressive exploration program to locate the bedrock source of the gold mineralization under the Ankobra River, a strong northerly trending structure that stretches 200km from the goldfields at Tarkwa/Prestea to Newmont’s Ahafo gold mine.

Asante Gold will issue 375,000 fully paid common shares for each of the PL’s to a maximum of 3,000,000 shares, and provide the vendor with a royalty equal to 2.0% of the Net Smelter Returns on each of the concessions transferred.

Shares issued will be subject to a hold period expiring four months and one day from the date of issuance.

In addition, 80% of the shares issued will be held in escrow and released as to 10% every 3 calendar months after the date which is four months and one day after the date of their issue.

Asante has announced plans to co-list its shares on the Ghana Stock Exchange and is sourcing funding to develop its Kubi Gold Mine project to production. Asante is also exploring its’ 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.

Asante Gold Corporation (ASE) is a Canadian-based gold exploration and development company focused on developing high-margin low CAPEX gold projects in Ghana. 

Asante Gold Corporation is up 5.36 per cent, trading at C$0.295 per share at 11:30 am ET.

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