Asante Provides Financing Update

VANCOUVER, British Columbia, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Asante Gold Corporation (TSXV: ASE | GSE: ASG | OTCQX: ASGOF) ("Asante" or the "Company") announces that its senior lenders under its Senior Facilities Agreement and Mezzanine Facility Agreement, its stream purchaser and its hedge counterparty have provided additional waivers in relation to the Company’s financing arrangements.

As previously disclosed, Asante was required to secure aggregate new funding of at least US$100 million (the “Funding”) by October 31, 2026 (refer to news releases dated August 24, 2026 and September 30, 2026). The lenders, stream purchaser and hedge counterparty have agreed to extend the waiver arrangements for completion of the Funding to November 30, 2026. The Company is evaluating a number of funding alternatives with its financing partners to secure and optimize the Funding by November 30, 2026.

As previously disclosed, the Company continues to work with its lenders, stream purchaser and other financing partners as it advances its longer term financing solution.

Asante will continue to update the market as appropriate.

CONTACT INFORMATION

Camilla Golding – Investor Relations Manager
investor@asantegold.com
+1 604 661 9400 or +233 303 972 147

ABOUT ASANTE GOLD CORPORATION

Asante Gold Corporation is a growing mid-tier gold producer, developer and explorer with a high-quality portfolio of assets located on two of West Africa's most prolific and prospective gold belts in Ghana. The Company operates the Bibiani and Chirano Gold Mines on the Sefwi-Bibiani Gold Belt in Ghana's Western North Region, where it holds an extensive and underexplored land position spanning more than 80 kilometres of strike. Asante is also advancing its Kubi Gold Project on the Ashanti Gold Belt, extending the Company's footprint across Ghana's most productive gold corridor. Committed to responsible mining and the creation of lasting value for its shareholders, people and host communities, Asante is listed on the TSX Venture Exchange, the Ghana Stock Exchange, and the OTCQX Market in the United States. Additional information is available on the Company’s website at www.asantegold.com.

Figure 1: Asante Portfolio, Ghana

About The Bibiani Gold Mine

Bibiani is an operating open pit gold mine situated in the Western North Region of Ghana, with historical gold production of more than 5 million ounces. The mine is fully permitted with mining and processing infrastructure on-site, including a refurbished process plant and associated mining infrastructure. Asante commenced mining at Bibiani in late February 2022, with commercial production announced on November 10, 2022.

About The Chirano Gold Mine

Chirano is an operating open pit and underground mine located in the Western Region of Ghana. The mine was first explored and developed in 1996 and began production in October 2005. Chirano comprises multiple open pit and underground operations and has produced over 3 million ounces of gold. Asante acquired the Chirano operation in August 2022.

Cautionary Statement of Forward-Looking Statements

Certain statements in this news release constitute forward-looking statements or forward-looking information. All statements, other than statements of historical fact, are forward-looking statements or information.  Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. The reader is referred to the risk factors identified in the Company’s management’s discussions and analysis and the most recent annual information form and the Company’s public disclosure record which is available on SEDAR+ (www.sedarplus.ca). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8ded4548-b248-4277-b728-bfe1d15dfdf3