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Asante Gold Corporation (CSE: ASE,OTC:ASGOF | GSE: ASG | FRANKFURT:1A9 | OTCQX: ASGOF) ("Asante" or the "Company") announces that Kinross Gold Corporation ("Kinross") announced today that it had sold an aggregate of 29,850,984 common shares ("Shares") of Asante representing approximately 4.2% of the outstanding Shares of Asante and approximately 44.7% of the Shares held by Kinross in the Company. The Shares were sold at a price per Share of $1.55, a 10% discount to the closing price of the Shares on Friday, September 5, 2025. Prior to the sale, Kinross held approximately 9.4% of the outstanding Shares and up to 18% of the Shares, on a partially-diluted basis, assuming conversion of all convertible instruments held by Kinross. After the sale, Kinross holds 36,927,650 Shares, 5,000,000 warrants to purchase Shares and a convertible debenture which is convertible into Shares at the option of Kinross at any time for a period of five years from the date of issuance at a conversion price equal to C$1.81 per Share. Kinross now owns approximately 5.2% of Asante's outstanding Shares, on a non-diluted basis, and 13.2% of the outstanding Shares, on a partially diluted basis assuming the conversion of the convertible securities of Asante held by Kinross.
Dave Anthony, President and CEO of Asante stated, "This block of Shares was issued to Kinross as partial consideration when the Company purchased the Chirano Mine from Kinross in 2022. Kinross has been and remains a very supportive partner to Asante and we're pleased that Kinross has been able to monetize this component of the original share consideration at an increase to the original value."
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
About Asante Gold Corporation
Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange and the Ghana Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana's Golden Triangle.
Additional information is available on the Company's website at www.asantegold.com .
For further information please contact:
Dave Anthony, President & CEO
Frederick Attakumah, Executive Vice President and Country Director
Tel: +1 604 661 9400 or +233 303 972 147
Email: info@asantegold.com
Cautionary Statement on Forward-Looking Statements
Certain statements in this news release constitute forward-looking statements. 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 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.
