Mr. Alexander Smirnov, CEO of Emiral Resources, became the new director on the Board of Asante Gold Corporation further strengthening Emiral’s engagement in the Bibiani gold mine project. The text of the press-release by Asante follows.

ASANTE GOLD ANNOUNCES NEW BOARD APPOINTMENTS

Vancouver, British Columbia, Jan. 19, 2022 (GLOBE NEWSWIRE) — Asante Gold Corporation (CSE: ASE/ FRANKFURT: 1A9/U.S.OTC: ASGOF) (“Asante” or the “Company”) announces that Mohammad Alothman and Alexander Smirnov have been appointed to the Board of Directors.

Mr. Alexander Smirnov is the CEO of Emiral Resources Ltd. He has 12 years of business experience in natural resource development, with degrees in finance and oriental studies from leading universities in Russia and is an Executive MBA candidate at London Business School. Mr. Smirnov is overseeing the creation of a diversified mining portfolio across geographies including Africa and the Middle East. He is a resident of Dubai, UAE. Emiral is focused on international natural resources exploration, development, production, trading, and procurement, and currently holds a 19.6% equity interest in Asante. Emiral, through its production subsidiary, Alliance for Mining, is the largest industrial gold producer in Sudan. Alliance has been commended by the Sudanese Ministry of Energy & Mining for its development of the country’s mining sector and its outstanding results.

Mr. Mohammad Alothman currently serves as the CEO of Fujairah Holding LLC where he oversees both UAE and Global operations. He established and now heads an Investment Subsidiary with a portfolio in Private Equity, Venture Capital, Real Estate Development, Corporate Finance, Family Offices, and public companies. Mr. Alothman has more than 15 years of experience in financial services including the set up of various large industrial joint ventures. Fujairah Holding LLC currently holds a 19.6% equity interest in Asante. Mr. Alothman is resident in the Emirate of Fujairah.

Douglas MacQuarrie, President & CEO states, “The addition of Mssrs. Alothman and Smirnov to our Board reflects their ‘hands on’ commitment to the future success and growth of the Company. Their investment of C$34.825 million each was fundamental to our successful acquisition and current refurbishment of our lead asset – the Bibiani Gold Mine. We look forward to continuing to grow with them.”