New High Priority Drill Target Outlined Near Kubi Pit

VANCOUVER - Asante Gold Corporation reported that anomalous high induced polarization (IP) survey results have been noted vertically above a previous drill intersection that graded 3.0m of 4.5g/t gold.This new IP anomaly is located just 150m to the east of the Kubi Main gold resource and has a significant strike and inferred dip potential.

The intersection, in drill hole KV97-143 from the 1997 Nevsun Resources Ltd. Kubi Main resource drilling program, was not followed up at the time because it was off trend and in the footwall of the targeted Kubi Main gold zone.The gold mineralization is associated with shearing, abundant garnet and 6.0% to 8.0% pyrite/pyrrhotite at a vertical depth of 360m, centered below the IP anomaly and hosted in steeply dipping Tarkwaiian meta-conglomerates.

The second, of the two drill holes which have tested this IP anomaly, KV95-12, also intersected a garnet/sulfide horizon from 138.0 to 148.0m down hole at a vertical depth of 98m. This interval was not assayed for gold at the time and the core is no longer available.

The new IP target, noted as “C” has an indicated length of 250m, and is on strike with a 17.0 g/t gold in soil sample located a further 100m to the north east.The other major IP high trends, “A”, “B” and “D” are located a few hundred metres further to the east and to the north, and are also considered as high priority drill targets.

Douglas MacQuarrie, President and CEO said, “At the Kubi Main gold deposit, the tenor of the gold mineralization is directly related to the sulfide content in a distinct garnet, sulfide and quartz rich unit.The confirmation of strong gold, garnet and sulfide mineralization in the previously not targeted Tarkwaiian conglomerates and the numerous IP high anomalies recently discovered, opens up extensive opportunities for resource expansion at Kubi.”

Asante is continuing to source funding to expand and develop its Kubi Gold project to production, and is exploring the Keyhole, Fahiakoba and Betenase concessions/options for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.

The company’s address is Suite 506, 595 Howe Street, Vancouver, BC V6C 2T5, (604) 558-1134, www.asantegold.com.