Asante Gold Corporation (CSE:ASE) (FRANKFURT:1A9) announces that it has been advised by Goknet Mining Company Limited (“Goknet”), a company related to Asante Gold Corporation by a common Director, that it has acquired 100,000 common shares of the Company by a market transaction on the Canadian Securities Exchange. The shares were purchased for investment purposes. Goknet intends to evaluate its investment in the Company from time to time and to increase or decrease its beneficial shareholding as it may determine for investment purposes.
Following the above-mentioned transaction, Goknet beneficially owns 2,300,000 common shares which represent 10.23% of the issued and outstanding common shares of the Company.
A copy of the report filed under NI 62-103 is available from the Company – please contact Jan Horbulyk, Corporate Secretary at +1 604 558 1134.
The Company also notes the recent joint news release issued by AngloGold Ashanti (NYSE: AU) and Randgold Resources Limited (NASDAQ:GOLD) (http://www.rns-pdf.londonstockexchange.com/rns/2610Z_1-2015-9-16.pdf) where they have concluded an investment agreement aimed at the formation of a joint venture to redevelop and operate AngloGold Ashanti’s Obuasi gold mine in Ghana.
This news is of significance to the Company as the Obuasi gold mine, which has mined some 33 million ounces of gold over its 117 year mine life, adjoins immediately to the north of the Company’s Kubi Gold Mine and Betanase options. The strike length of the Obuasi high grade gold reefs exceed 12km in length and extend to +2.5km in depth.
A map showing the location of the various mines and properties is available at the following link: http://www.asantegold.com/i/pdf/nr/LocationKubiBetanaseObuasi.pdf
AngloGold Ashanti CEO Srinivasan Venkatakrishnan said “Our partnership with Randgold has proved successful for well over a decade in bringing value from sustainable gold mining to all stakeholders and we believe that pooling the extensive expertise and the capital of these two companies will improve our ability to bring Obuasi’s world class high grade gold deposit to account.”
Randgold chief executive Mark Bristow said “Obuasi is a world class resource. We now have to see if we can convert it into a world class mine. We have a long history of cooperation with AngloGold Ashanti and we look forward to working with them again on charting a new course towards a viable future for Obuasi.”
On behalf of the Board,
“Douglas R. MacQuarrie”
President & CEO
About Asante Gold Corporation
Asante Gold Corporation (CSE:ASE/FRANKFURT:1A9) is a Vancouver based gold company, developing the Kubi Gold Project optioned from Goknet Mining; and exploring the Betanase concession under option from Perseus Mining (Ghana) Limited and the Fahiakoba concession near the centre of Ghana’s Golden Triangle between Perseus Mining’s Edikan and AngloGold Ashanti’s/RandGold Resources Obuasi mines. Asante is currently sourcing the required debt and equity financing to fund Kubi to production and to drill test significant new targets recently outlined at Betanase.
About Gold
Fact: in 1971 it took 0.88 grams of gold to purchase one US$; today it takes only 0.0282 grams! In other words the buying power of gold over the last 44 years has increased more than 3,000% compared to paper currency. Gold is clearly the World’s only true money.
For further information please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: [email protected]
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: [email protected]
Kirsti Mattson, Media Relations, tel: +1 778-434-2241; E-mail: [email protected]
Europe: Florian Riedl-Riedenstein, Director; E-mail: [email protected]
Additional information is available on our web site at: www.asantegold.com
This news release contains statements of forward-looking information (or “FLI”) including those in respect of adjoining properties, future exploration, development, permitting and mining at Kubi, Betanase, Fahiakoba and any other properties in which the Company has or will obtain an interest, financings, and operations. FLI involves risks and uncertainties which could cause actual results to vary from the FLI. The risk factors that could cause actual results to differ materially include: the risk of failure to obtain sufficient financing; regulatory restrictions, including environmental regulatory restrictions and liability and the lack of any assurance that the Company will receive all of the necessary governmental and other approvals and financing to proceed with the closing of the options and the further development of its projects. The Company undertakes no obligation to update FLI except as required by applicable law. Such information represents management’s best judgment based on information currently available. Readers are advised not to place undue reliance on FLI.
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
