Vice President Production and Development Appointed for Kubi Gold Project, Ghana
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 2, 2015) -
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
Asante Gold Corp. (TSX VENTURE:ASE) (FRANKFURT:1A9) (the "Company") announces that effective immediately Mr. Bash Ahmed has been appointed a Director and Vice President Production and Development for our Kubi Gold project in Ghana.
Mr. Ahmed, a Ghanaian National, is a mining engineer with over 30 years of experience in mine operations, planning, production and management. This wealth of expertise gained him the position as Mine Manager at Obuasi, one of the World's foremost underground gold mines, producing up to 1.8 million tonnes per year (~4,900 tpd). In this capacity Mr. Ahmed managed a workforce of over a thousand, with an annual budget of US$100 million. Mr. Ahmed resides in Obuasi, Ghana.
We welcome Mr. Ahmed to the Board, and look forward to working closely with him to advance Kubi to production.
The Company has granted Mr. Ahmed incentive stock options to purchase up to 220,000 common shares at a price of $0.15 per share for a five year period.
The Company is continuing to evaluate the best options to advance Kubi. Further information will be released as available.
The Company also announces that Mr. Jag Sandhu has resigned from the Board effective today. We thank Mr. Sandhu for his solid commitment to the Company during its formative years and look forward to continue working with him in the future as a consultant on a fee for services basis.
On behalf of the Board,
"Douglas R. MacQuarrie"
President and CEO
About Asante Gold Corporation
Asante Gold Corp. (TSX VENTURE:ASE) (FRANKFURT:1A9) is a Vancouver based gold company, developing the Kubi Gold Project and exploring the Fahiakoba Concession in the centre of Ghana's Golden Triangle between Perseus Mining's Edikan and AngloGold Ashanti's Obuasi mines. Asante is currently sourcing the required debt and equity financing to fund Kubi to production.
About Gold
As the talk of 'GREXIT' and other systemic G20 financial woes move to the next normally inevitable step of default after years of near zero real interest rates, an Ancient Chinese Proverb comes to mind:
| "ONLY GOLD CAN TAKE THE HEAT OF THE FIRE" |
| and we add to make it clearer |
| "ADVISE YOURSELF" |
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 future exploration, development, permitting and mining at Kubi and the other properties in which the Company has an interest, financings, operation of the joint venture and timing for exchange approval and closing. 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; the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineralization; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; accidents, equipment breakdowns, labor disputes or other unanticipated difficulties with or interruptions in production and operations; fluctuating prices of metals and other commodities; currency fluctuations; the possibility of project cost overruns or unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; 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/or exchange approvals to proceed with the development of its projects. The material factors and assumptions on which the FLI is based include the extensive Kubi drilling database and current mineral resource estimate, the previously successful permitting, mining, trucking and milling operations at Kubi, the local availability of skilled labor, plant and machinery, and the positive results from previous metallurgical tests on the Kubi primary ore. 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.
Contact
Douglas MacQuarrie, President and CEO
1 604-558-1134
douglas@asantegold.com
Doreen Kent, Shareholder Communications
1 604-948-9450
d.kent@eastlink.ca
Kirsti Mattson, Media Relations
1 778-434-2241
kirsti.mattson@gmail.com
Europe: Florian Riedl-Riedenstein, Director
frram@aon.net
