Asante Gold Corporation: Working Capital Private Placement Announced

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")
announces that it will use its best efforts to raise up to $500,000 by the
private placement of up to 6.66 million units of the Company. The offering will
be made to existing shareholders of the Company in Canada (in which the
exemption for the sale of securities to existing shareholders has been approved)
to a maximum of $15,000 per shareholder, unless the shareholder has obtained
advice regarding the suitability of the investment from a registered investment
dealer (in the jurisdiction the shareholder is resident), and to accredited
investors, at the price of $0.075 per unit, each unit comprised of one common
share and one-half of a callable share purchase warrant. There is no minimum
subscription. Each full warrant will be exercisable into one common share of the
Company at a price of $0.15 for a period of two (2) years, with a provision that
should the shares trade on the TSX Venture Exchange at $0.25 or higher for 20
consecutive trading days the warrant holder would have 30 days to exercise the
warrant or they would expire. In the event of an oversubscription, existing
shareholders will be given priority and will be filled on a pro-rata basis. The
record day for the purposes of defining existing shareholders is May 14, 2014.


Subscription agreements for the offering are available from the Company or can
be downloaded from our web site at the following link:
http://www.asantegold.com/i/pdf/0178-Subscription-Agmt-Units.pdf


Certain Directors and Officers of the Company may acquire securities under the
private placement. Any such participation would be considered to be a "related
party transaction" as defined under Multilateral Instrument 61-101 ("MI
61-101"). The transaction will be exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 as neither the fair market value
of any shares issued to or the consideration paid by such persons will exceed
25% of the Company's market capitalization.


All proceeds from the private placement will be used for working capital. A
finder's fee may be payable on the accredited investor portion of the offering.
The private placement is subject to receipt of necessary stock exchange
approvals. All securities purchased under this offering will be subject to a
four month and one day hold period.


The Company also announces that given the current state of the junior mining
markets, that the outstanding incentive options held by non-management
consultants and advisors to the Company and currently priced at $0.75 be reduced
in price to $0.15 per option share, subject to TSX Venture Exchange approval.


The Company also announces the granting of an additional 450,000 incentive
options to Directors and Officers of the Company at a price of $0.15 for five
(5) years. 


On behalf of the Board,

Douglas R. MacQuarrie, President and CEO

About Asante Gold Corporation 

Asante Gold Corporation (TSX VENTURE:ASE)(FRANKFURT:1A9) is a Vancouver based
gold company, exploring the Fahiakoba Concession located in the centre of
Ghana's Golden Triangle between Perseus Mining's Edikan mine, and AngloGold
Ashanti's 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. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


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
frram@aon.net
(TSXV:ASE)
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