Asante Gold Corporation announced that the principle, long lead equipment for the Sulphide Recovery Plant planned for installation at the Bibiani Gold Mine ("Bibiani") are expected to be shipped mid August 2024. This facility is key to the Company's plans to grow gold production at Bibiani to more than 250,000 ounces per year, with cumulative production of 1.2 million ounces of gold over the next five years, with lower all-in sustaining costs ("AISC"), as detailed in the 2024 Bibiani Technical Report ("Technical Report"). Installation of the Sulphide Recovery Plant is expected to improve gold recovery and have significant impact on the all in sustaining cost per ounce produced (AISC) and profit margins at Bibiani.

Gold recovery from sulphide ore is expected to increase from 70% to approximately 92%. The Company has made substantial progress toward completion of the Sulphide Recovery Plant with 50% of the civil works for the project completed. Fabrication of the long lead equipment has been completed and the items are currently being prepared for shipment to the Bibiani site, with arrival expected mid August 2024.

When the Sulphide Recovery Plant is completed, Asante expects to be producing approximately 20,000 ounces of gold per month at Bibiani, which is in line with the Company's long-term plan for the mine. Asante looks forward to the completion of the Sulphide Recovery Plant as the Company works to improve and optimize its operating mines.