Asante Gold Corporation: Corporate Update- Proposed Royalty Acquisition

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
AGENCIES


Asante Gold Corporation (TSX VENTURE:ASE)(FRANKFURT:1A9) (the "Company") would
like to update its shareholders with respect to the announced acquisition of a
1% NSR royalty interest on the Obotan Gold Mine project in Ghana (the
"Royalty"), published on November 12, 2012. 


The royalty holder, Goknet Mining Company Limited, of Accra, Ghana ("Goknet")
has informed the Company that it has not yet received the necessary third party
consent to the assignment of the Royalty and that it will take all actions
necessary to obtain the consent. It has referred the matter to binding
arbitration, with a determination expected by the end of April 2013. 


Goknet has confirmed to the Company that it holds a 2% NSR royalty interest in
all the concessions held by PMI Gold Corporation and its subsidiaries ("PMI") on
the Asankrangwa gold belt in Ghana, including all the concessions and mining
leases which make up PMI's Obotan Gold Project. It also notes that the PMI
Feasibility Study dated September 17, 2012 and prepared for PMI by GR
Engineering Services Ltd., and filed on Sedar (www.sedar.com) on September 19,
2012, has an allowance for the payment of US$205.6 million in royalty payments
over the 11.5 year life of mine, which equals 7% (5% reserved for the Government
of Ghana, and 2% reserved for Goknet) of the life of mine project revenue of
US$2.9 billion (total of 2.26 million recovered oz Au x US$1,300/oz gold price
used in the study). 


The November 12, 2012 news release also anticipated that a private placement
funding of up to $2 million would be announced for working capital purposes. The
Company anticipates that sufficient working capital will be available from the
exercise of outstanding private placement warrants that are currently priced
near market and that no additional equity offering will be undertaken at this
time. 


This news release has been approved by the Special Committee of the independent
directors of Asante Gold Corporation which was convened to complete the royalty
acquisition from Goknet. 


On behalf of the Board,

Douglas R. MacQuarrie, President & CEO

About Asante Gold Corporation 

Asante Gold Corporation (TSX VENTURE:ASE)(FRANKFURT:1A9) is a Vancouver based
gold exploration and royalty focused company, exploring the Fahiakoba Concession
located in the centre of Ghana's Golden Triangle between Perseus Mining's
250,000 oz Au per year Edikan mine, and AngloGold Ashanti's 315,000 oz Au per
year Obuasi mine. 


This news release contains forward-looking statements which involve known and
unknown risks, delays and uncertainties not under the Company's control which
may cause actual results, performance or achievements of the Company to be
materially different from the results, performance or expectations implied by
these forward-looking statements. We Seek Safe Harbour.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Asante Gold Corporation
Douglas MacQuarrie
President
+1 604-558-1134
douglas@asantegold.com


Asante Gold Corporation
Jag Sandhu
Director, Corporate Development
+1 604-306-1950


Asante Gold Corporation
Doreen Kent
Shareholder Communications
+1 604-948-9450
d.kent@eastlink.ca


Asante Gold Corporation
Kirsti Mattson
Media Relations
+1 778-434-2241
kirsti.mattson@gmail.com


Asante Gold Corporation
Europe: Florian Riedl-Riedenstein
Director
+43 2774 28814
frram@aon.at

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