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INVESTOR PRESENTATION - JANUARY 2026 TSX-V: ASE | GSE: ASG | OTCQX: ASGOF Growing West African Gold Producer
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2025E based on lower end of guidance range. References to years relate to the 12-month period commencing February of the applicable calendar year, consistent with the Company’s January 31 fiscal year-end. For example, “2025” refers to the 12-month period of February 2025 – January 2026. Actual production figures refers to period of Asante ownership. 2 GROWING WEST AFRICAN GOLD PRODUCER Strong Operating Base Chirano Gold Mine Bibiani Gold Mine ▪ +7.5 Mtpa Milling Capacity ▪ Total Reserves: 3.0Moz ▪ Total M&I Resources: 4.6 Moz ▪ Total Inferred Resources: 2.2 Moz Operational Synergies and Exploration Potential ▪ 2 process plants 15km apart ▪ Control 83km of the Bibiani & Chirano Shear Zones (+8 Moz produced to date) Proven Leadership ▪ Team Barrick, Anglo Ashanti, Cardinal, Asanko, Kinross ▪ Strong operators ▪ Exploration success ▪ Exceptional local relationships
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3 GHANA – BY THE NUMBERS Ghana’s top mineral exports: Au, Mn, Bauxite and Diamonds US$82.8B Nominal GDP (2024) 14.0% Gold exports as a share of GDP Source: World Bank Group, CIA Factbook #1 Gold is Ghana’s top mineral export #6 Investment Attractiveness Index - Africa Fraser Institute Annual Survey of Mining Companies, 2024 34.4M Inhabitants Top Ghanaian gold producers Ghana: the largest gold producer in Africa TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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David Wiens Chief Financial Officer Mr. Wiens has +20 years’ financial management experience. He has delivered results in progressive corporate and investment banking roles in Canada and the UK. He has spent most of the last ten years in finance, corporate development and investor relations roles with gold and silver producers, including over six years at SSR Mining Inc. when the company transitioned from a single asset silver producer to become a diversified, long-life gold company. Recently he was Chief Financial Officer of Bunker Hill Mining Corp., where he delivered project financing for the mine restart, secured new strategic shareholders, uplisted and grew the company alongside a team of former Barrick executives. Previously, he was a mining investment banker at several financial institutions, including Deutsche Bank AG in London, UK. Mr. Wiens holds a Bachelor of Commerce from the University of British Columbia in Canada and is a CFA® Charterholder. https://www.asantegold.com/ 4 Dave Anthony President & CEO, BOD Member Mr. Anthony is a resident of Canada and holds a BSc Mining and Mineral Process Engineering from Queen’s University. He has +40 years’ experience in mine project development and operation, at the senior management & executive levels. His experience includes mine and process plant design, permitting, construction and operation. He worked with Barrick in Africa for 10 years and became COO of African Barrick Gold. He has also worked in Canada, Ecuador, Brazil, Indonesia, Chile and Argentina to design, deliver and operate open pit and underground mine assets with CAPEX from $100M to $3.6B and with total material movement to 65Mt/y. Most recently, he was COO of Cardinal Resources Limited, prior to purchase by Shandong Gold for more than $500M, representing a premium of 400% to the unaffected price, after a bidding process. At the time, Cardinal was developing the 7 million oz (reserve & resource) Namdini Gold Mine. Fred Attakumah Executive Vice President & Country Director Mr. Attakumah is a resident of Ghana. He has +30 years' experience in mine project development, operations management, sustainability and corporate affairs. Prior to joining Asante Gold, Fred was the Executive Vice President and Managing Director of Asanko Gold Ghana Limited. He has also held several senior executive roles including Managing Director of AngloGold Ashanti (Ghana) Limited and Vice President of Sustainability for the AngloGold Ashanti operations in Ghana. He holds a B.Sc. (Hons) in Electrical Engineering from the Kwame Nkrumah University of Science and Technology (Ghana) and a Master of Business Administration degree from the Henley Business School (UK). MANAGEMENT TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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George A. Asongo GM Technical Services and Capital Projects A resident of Ghana, Mr. Asongo holds PgD and BSc. degree in Mining Engineering and Executive MBA (Finance Option) from KNUST, Kumasi. George has worked at AngloGold Ashanti, Barrick Gold and Golden Star Resources. He has more than 25 years’ senior management experience in underground and open pit mine operations and technical services. He is a Member of the Australasian Institute of Mining and Metallurgy. https://www.asantegold.com/ FINANCIAL, TECHNICAL, LEGAL & OPERATIONS LEADERSHIP 5 Dean A. Bertram VP – Geology A resident of Ghana, Mr. Bertram held the position of Managing Director of Mensin Gold Bibiani Limited from 2019 to 2023. A geologist by profession Mr. Bertram has 40 years mining and exploration experience, including 36 years in West Africa. He is a Fellow of the West African Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists. Walter Agbey Group Metallurgical Manager A resident of Ghana, Mr. Agbey holds a Masters degree in Business Administration from Ghana Institute of Management & Public Administration and BSc. Metallurgical Engineering from Kwame Nkrumah University of Science and Technology. Walter has 30 years experience as a Metallurgical /Processing Manager at several mining companies in Ghana, including Anglo–Obuassi, Chirano, Endeavour-Adamus and Asanko Gold mines. Daniel Apau Manager; Exploration and Resources Chirano Mine A resident of Ghana, Mr. Apau holds Master of Philosophy in Geology from the University of Ghana and an MBA in General Management from the University of Cape Coast, Ghana. Daniel has 20 years’ experience in exploration, resource evaluation and mining in Ghana. Daniel is a Member of the Australian Institute of Geoscientist and a Member of the Society of Economic Geologists. Alex Hagan VP Operations A resident of Ghana, Mr. Hagan holds a BSc. degree in Geology from University of Ghana and an MBA in Leadership (Dip). Alexander has over 26 years senior management experience in mine operations including SOMITA (Nordgold) in Burkina Faso, Adamus (NGUVU) in Ghana and Kouroussa Gold Mine (Hummingbird Resources) in Guinea. Alex is member of AusIMM, CIM and PMI Dindiok Chialin Deputy Chief Financial Officer A resident of Ghana, Mr. Chialin is a Chartered Accountant, with 20 years’ experience in corporate finance, supply chain and audit & assurance in the mining industry. Prior to his appointment, Dindiok was the Finance Manager of Chirano Gold Mines Ltd. Mr. Chialin holds an MBA in Finance from the Ghana Institute of Management and Public Administration and a degree in Accounting and Psychology from the University of Ghana. Stephen Yamoah General Manager Chirano Mine A resident of Ghana, Mr. Yamoah holds Masters and Bachelor degrees in Mining Engineering from the University of Mines and Technology (UMaT), Ghana. He has 23 years experience in mine operations and management. He is a Fellow of the West African Institute of Mining, Metallurgy and Petroleum and a Member of the Australasian Institute of Mining and Metallurgy. Juliet Ofeibea Manteaw-Kutin General Counsel A resident of Ghana, Juliet has more than 20 years’ legal experience in the mining and telecom industries. Prior to joining Asante Gold, Juliet was the Head of Legal, Corporate Affairs and Company Secretary of AngloGold Ashanti (Ghana) Limited where she demonstrated leadership to ensure a high standard of legal practices and governance. Samuel Takyi General Manager Bibiani Mine A resident of Ghana. Mr. Takyi holds Masters and Bachelor degrees in Mining Engineering from University of Mines and Technology (UMaT) and Kwame Nkrumah University of Science and Technology and an Executive MBA in Business Analytics. He has 22 years experience in mine operations, technical services and management. He is a Fellow of the West African Institute of Mining, Metallurgy and Petroleum."
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CAPITAL STRUCTURE https://www.asantegold.com/ CAPITAL STRUCTURE SUMMARY 6 HOLDERS % Share Price (Jan 12, 2026) CAD$1.81 52 Week Range $0.83 – $2.62 Issued & Outstanding 893.6M Warrants 21.2M Options 12.4M RSU/DSU 10.2M Fully Diluted 937.5M Market Cap - (Jan 12, 2026) C$1.7B SHAREHOLDERS LISTINGS TSX-V: ASE • GSE: ASG • OTCQX: ASGOF 22.9% 2.8% 8.0% 7.6%38.6% 20.1% Ghanaian Shareholders Management & Insiders Emiral Resources Fujairah Holdings Institutional Investors Other DEBT O/S (USD) Senior Debt Facility $150M Subordinated Debt Facility $125M Gold Stream $50M
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7 ASANTE – OUR ACHIEVEMENTS TSX-V: ASE • GSE: ASG • OTCQX: ASGOF NOV ‘22: Declares commercial production at Bibiani JUN ‘24: Announces FY 2024 gold eq. production of 189,600 oz MAY ‘25: Announces plan to grow to 500k+ oz/year by 2028 AUG ‘25: Completes $500 million financing package Begins trading on the TSX Venture Exchange JUN ‘23: Announces FY 2023 gold production of 120,713 oz AUG ‘22: Closes Chirano acquisition from Kinross for US$225M JAN ‘25 Publishes Bibiani UG Mine 43-101 w/ NPV5% of US$516M and IRR of 71%s OCT ’24: Announces financing package to strengthen balance sheet and fund growth plans JUN ‘22: Begins trading on the Ghana Stock Exchange 2022 2023 2024 2025 2026 JAN ‘26: Closes C$179M equity financing
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8 Chirano ▪ Bibiani & Chirano Gold Mines are consolidated with one owner to create a highly prospective gold district that exceeds 83km length and 600km2 ▪ With two operating process plants nearby, exploration success has potential to become gold production quickly GROWING GOLD PRODUCTION IN GHANA Bibiani (Open Pit) ▪ Acquired from Resolute 2021 ▪ Commercial production 2022 ▪ Mineral Reserves (P+P): 1.95Moz Chirano (Open Pit + Underground) ▪ Acquired from Kinross 2022 ▪ Commercial production 2004 ▪ Mineral Reserves (P+P): 1.06Moz Bibiani TSX-V: ASE • GSE: ASG • OTCQX: ASGOF Targeting 500,000 oz of gold production at Bibiani and Chirano by 2028
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1. The Bibiani-Chirano gold corridor has produced +8M oz over the past 100 years. It is prospective for gold well beyond the current operations. 2. The corridor extends for over 83 km. 3. It is composed of a series for interconnecting gold- bearing faults and shear zones (the Bibiani and Chirano shears to name just 2 are known). The remainder will be mapped. 4. The corridor represents a crustal-scale fossil earthquake zone; the zone collapsed at around 2.0 billion years ago leaking gold-bearing fluids up through multiple interconnecting fault network. 5. The scale of the collapse can only be compared to giant crustal-scale systems such as the Carlin Trend (Nevada, USA) or Kalgoorlie-Kambalda Trend (Australia). 9 BIBIANI - CHIRANO GOLD CORRIDOR IS HIGHLY PROSPECTIVE TSX-V: ASE • GSE: ASG • OTCQX: ASGOF 83 km
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ATTRACTIVE VALUATION 10 Market Cap (A$m)2 See Disclaimer: Cautionary Statement Regarding Forward-Looking Information 1Asante and Resolute use CY 2026 guidance. 2Asante market cap converted to AUD using an exchange rate of 1.10 (CAD/AUD). TSX-V: ASE • GSE: ASG • OTCQX: ASGOF Production Guidance FY 20261 0 50 100 150 200 250 300 350 400 450 Perseus Asante Westgold Greatland Genesis Bellevue Resolute Ramelius Orabanda Emerald Catalyst Pantoro Alkane 0 1000 2000 3000 4000 5000 6000 7000 8000 Genesis Perseus Ramelius Westgold Greatland Emerald Orabanda Resolute Pantoro Catalyst Bellevue Alkane Asante
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BIBIANI GOLD MINE
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BIBIANI GOLD MINE 12 https://www.asantegold.com/ Gold Reserves and Resources1 Proven and Probable Reserves: 1.9Moz at 2.21 g/t gold Measured and Indicated Resources: 2.4Moz at 2.3 g/t gold Inferred Resources: 1.2Moz at 2.36 g/t gold Catalysts ✓ Completed $500M funding initiative to grow production ✓ Commissioned new sulphide plant ▪ Optimize gold recovery ▪ Advance underground development ▪ Accelerate stripping in Main and Russel pits to increase grade and tonnes milled ▪ Produce between 215,000 and 245,000 ounces of gold in 2026 Asset Overview ▪ Structurally controlled mesothermal lode-type deposits ▪ Acquired from Resolute Mining in 2021 ▪ Expanding main pit and completing plant upgrades, which will be followed by underground mine development 1. See Disclaimer re: Mineral Resources and Mineral Reserves
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0 10 20 30 40 50 60 70 80 90 Jul Aug Sept Oct Nov Dec Jan 13 BIBIANI RAMP UP NEARLY COMPLETE TSX-V: ASE • GSE: ASG • OTCQX: ASGOF Challenge Solution Mine contractor mobilization ▪ Mining contractor now fully mobilized ▪ Sub-contractors engaged ▪ 2026 mine plan de-risked through less waste movement GOLD RECOVERY Challenge Solution Late arrival of oxygen plant to support sulphide plant performance ▪ Now installed and commissioned Gold recovery target; December onwards 0 20 40 60 80 100 120 140 Jul Aug Sept Oct Nov Dec Trucks Excavators Rigs Delayed contractor mobilization All contractor resources in place
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BIBIANI - MINE DEVELOPMENT ▪ First gold poured July 2022. Gold production ramp-up is progressing, to produce + 250Koz/year from 2026 ▪ The UG mine FS completed; development advanced in 2025. This accounts for +100Koz/y from 2027, with significant increase to LOM ▪ Exploration continues, to develop satellite deposits and extend open pit mining ▪ Tailings dam lift is complete to provide storage capacity to 2027. Three lifts to provide total additional 6 years storage capacity are planned for 2026, 2029 and 2031 ▪ Highway bypass is complete and mining the south end of the main pit (+400Koz) was started June 2024 ▪ Commissioning the Sulphide Treatment Plant is complete and will increase gold recovery to 92% by end of 2025 ▪ Mining the main pit accelerated to +8M tonnes/m from November 2025 ▪ Russel satellite pit Cutback #2 is advanced and gold delivery will exceed 8,000 oz/m from November 2025 14https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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BIBIANI – RESOURCE AND RESERVE ESTIMATES 15https://www.asantegold.com/ Resource and Reserve Estimates On a 100% basis M&I Resources shown inclusive of Reserves December 31, 2023 MT Au Grade g/t Moz Mineral Resource Measured 0.2 1.34 0.010 Indicated 33.5 2.30 2.481 M&I 33.8 2.30 2.490 Inferred 15.2 2.36 1.152 Mineral Reserve Proven 0.2 1.26 0.010 Probable 27.2 2.21 1.940 Total Reserves 27.4 2.21 1.950 Notes: (1) Mineral Resource Estimate expressed on a 100% basis; Asante owns 90% of the Bibiani Mine (2) Tonnes and ounces have been rounded and this may have resulted in minor discrepancies (3) Mineral Resources are not Mineral Reserves (4) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability (5) Mineral Resources are reported inclusive of Mineral Reserves (6) Mineral Resource Estimates determined using $1,950/oz gold price and Mineral Reserve Estimates determined using $1,700/oz gold price; (7) The Mineral Reserve estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential exploitation of such Mineral Reserves TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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16 BIBIANI SULPHIDE TREATMENT PLANT UPDATE Concentrate Thickener Sulphide Flotation VXP Mill Package Installation December Onwards Optimize to 92% recovery through Q1 2026 Project Status ✓ Construction complete ✓ Commissioning complete ✓ Operations commenced September 2025 ✓ Oxygen plant online December 2025 TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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17 • Enables additional or supplemental Bibiani gold production during Main Pit stripping and ramp up • Potential upside beyond the starter pit is clearly evident; increased strike length and mining widths are not currently factored into production guidance • Aggressive drilling program to confirm southern extension and increased gold resource RUSSEL PIT RAPIDLY EXPANDS BEYOND “STARTER PIT” SIZE Bibiani Main Pit Russell Pit
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BIBIANI – SOUTH RUSSEL EXPLORATION & DEVELOPMENT ▪ Located on the Bibiani Shear Zone, 5km north of Aboduabo and 3.8km south of the Bibiani Process Plant. ▪ Exploration currently pursuing the depth extension of the southerly plunging underground shoot. ▪ Plan view map of South Russel Pits 2 leading to future underground development with Constrained Indicated Resources of ~210K oz Au 18 https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
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SOUTH RUSSEL SHOWS SIGNIFICANT UG POTENTIAL Topo ▪ Russel long-section looking West. ▪ Sub-vertical(65deg) and tabular orebody still open at depth ▪ Depicting a strong southerly plunging of the HG ore shoot. ▪ The Russel mineralization is hosted within a strongly structurally deformed and hydrothermally altered Birimian Meta-sediments with granitic Intrusions with disseminated pyrite mineralization.
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Asempaneye: Initial drill testing at Asempaneye is showing promising results of a new discovery about 3.0 km south-west of the Russel pit. Little Mug : Recent drill results from Little Mug demonstrated significant near surface resource potential, which being followed up with additional infills and strike extension drilling. Elizabeth Hill: Strike extension from the main zone is currently being explored. Early drill results indicate potential for near surface ounces. Satellite Underground Exploration: Resource conversion drilling has started beneath Big Mug pit for LOM Extension. Russell South: Exploration currently pursuing the depth extension of the southerly plunging underground shoot. The Russel open pit will lead to underground mine development and is expected to deliver +210,000 oz. BIBIANI – EXPLORATION PROGRAMS Very little regional exploration was conducted in the goldfield since the 1990’s when the Bibiani main pit became the focus. Asante continues to focus on Near Mine and Greenfield Exploration Programs to identify robust drill targets and opportunities to grow the pipeline mineral assets. These programs continue to deliver promising results. 20https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information TSX-V: ASE • GSE: ASG • OTC: ASGOF • FSE:1A9
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CHIRANO GOLD MINE
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CHIRANO GOLD MINE 22https://www.asantegold.com/ 1. See Disclaimer re: Mineral Resource and Mineral Reserves Gold Reserves and Resources1 ▪ Proven and Probable Reserves: 1.1Moz at 1.76 g/t gold ▪ Measured and Indicated Resources: 2.1Moz at 1.63 g/t gold ▪ Inferred Resources: 1.0Moz at 1.60 g/t gold Catalysts ✓ Completed $500M funding initiative ✓ Continuing mining Aboduabo and Mamnao Central ▪ Increase the annual mine production rate to 4Mt/annum (H2/2026) ▪ Advance UG development at Suraw, Tano and Obra, to increase mill feed grade ▪ Produce between 150,000 and 175,000 ounces of gold in 2026 Asset Overview ▪ Chirano deposits occur along a 11km mineralized zone characterized by intense folding subsequent foliation, ubiquitous quartz-carbonate veining ▪ Acquired from Kinross in 2022
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23 CHIRANO UNLOCKING GROWTH THROUGH MINE DEVELOPMENT TSX-V: ASE • GSE: ASG • OTCQX: ASGOF ▪ UG mining equipment arrived late 2025; now mobilized and advancing development ▪ Infrastructure being installed to support increased depth and LOM at Tano, Sara and Obra mines ▪ Targeting +200koz/year from 2027 onwards 774 865 926 1,012 1,230 1,337 0 200 400 600 800 1000 1200 1400 1600 Jul Aug Sept Oct Nov Dec Development Metres
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CHIRANO MINERAL RESERVE & RESOURCE OVERVIEW Summary of Mineral Reserve at December 31, 2023 Reserve Classification Tonnes (000’s) Grade (g/t) Au Ounces (000’s) Proven 3,723 1.99 239 Stockpile(s) 1,567 0.51 26 Subtotal 5,290 1.55 264 Probable 13,419 1.84 795 TOTAL Mineral Reserves 18,709 1.76 1,059 Summary of Mineral Resource at December 31, 2023 Resource Classification Tonnes (000’s) Grade (g/t) Au Ounces (000’s) Measured 10,763 1.78 617 Indicated 29,138 1.57 1,472 Subtotal 39,901 1.63 2,088 Inferred 20,014 1.60 1,031 Notes: (1)Mineral Resource Estimate expressed on a 100% basis; Asante owns 90% of the Chirano Mine (2)Tonnes and ounces have been rounded and this may have resulted in minor discrepancies (3)Mineral Resources are not Mineral Reserves (4)Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability (5)Mineral Resources are reported inclusive of Mineral Reserves (6)Mineral Resource Estimates determined using $1,950/oz gold price and Mineral Reserve Estimates determined using $1,700/oz gold price; (7)The Mineral Reserve estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential exploitation of such Mineral Reserves Akwaaba Kolua AkotiSuraw Paboase Tano Obra Sariehu Mamnao Aboduabo Akwaaba Kolua Akoti Suraw Paboase Tano Obra Sariehu Mamnao Aboduabo Akwaaba Resources UG MI = 2.59Mt@2.08g/t; 173koz Inf= 0.22Mt@1.64g/t ;11koz Suraw Resources UG MI = 4Mt@2.35g/t; 306koz Inf= 1.26Mt@2.80g/t ;113koz Akoti Resources UG MI = 3.3Mt@1.86g/t; 208koz Inf= 0.65Mt@1.76g/t ;37koz Paboase Resources UG MI = 0.16Mt@2.13g/t; 11koz Inf= 0.06Mt@1.89g/t ;0.4koz Tano Resources UG MI = 2.76Mt@1.82g/t; 104koz Inf= 0.85Mt@2.01g/t ;55koz Obra Resources MI = 8.6Mt@2.0g/t; 553koz Inf= 3.08Mt@1.88g/t ;170koz Sariehu OP Resources MI = 2.2Mt@0.93g/t; 66koz Inf= 0.022Mt@1.03g/t ;0.7koz Mamnao OP Resources MI = 4.4Mt@0.98g/t; 140koz Inf= 0.22Mt@0.70g/t ;4.9koz Aboduabo OP Resources MI = 3.3Mt@1.9g/t; 146koz Inf= 0.64Mt@1.68g/t ;34koz Aboduabo UG Resources MI = 1.05Mt@1.66g/t; 56koz Inf= 1.96Mt@1.70g/t ;51koz Mamnao UG Resources MI = 1.9Mt@1.59g/t; 89koz Inf= 3.76Mt@1.59g/t ;192koz Sariehu UG Resources MI = 0.5Mt@1.41g/t; 23koz Inf= 7.5Mt@1.36g/t ;328koz 24TSX-V: ASE • GSE: ASG • OTCQX: ASGOFhttps://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
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25 CHIRANO: RESERVE AND RESOURCE MOVEMENT (Moz) Updated 43-101 to be published April 2026
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CHIRANO - ABODUABO EXPLORATION Located on the Bibiani Shear Zone, 1.5km north of Mamnao pit and 5km south of South Russel Plan view map of Aboduabo showing collar locations and selected intercepts with recent drill results in red text, along 1.3km strike 19,417m drilled P-T-D in 84 holes which has intersected multiple zones confirming mineralization along the trend CSE:ASE • GSE:ASG • OTC:ASGOF • FSE:1A9https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information 26
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ASANTE GOLD SUSTAINABILITY MODEL DIGBEE ESG PLATFORM ▪ From 2021, Asante has engaged the Digbee ESG Platform to conduct an independent audit, to measure our performance and highlight opportunities to continuously improve. Bibiani was rated BB Overall. Chirano audits started Q2 2023. Asante is now graded A overall. KEY SUSTAINABILITY FOCUS AREAS PEOPLE ▪ Health, Safety & Wellbeing excellence achieved through comprehensive training, including the Courageous Leadership for Safety program. ; Strategic Social Investments; Pro-active Stakeholder Engagement; Grievance Management; Materiality Assessments ENVIRONMENT ▪ Bio-Diversity; Impact Management; Water Management; Tailings Management; Closure Planning; Climate Resilience GOVERNANCE ▪ Ethics & Compliance; Regulatory Compliance; Human Rights; VPSHR; Gender Diversity and Inclusion; Women in Mining INNOVATION & TECHNOLOGY ▪ Operator Safety; Fatigue Management; Remote Sensing; Energy Efficiency; Data Analytics SUSTAINABILITY GOVERNANCE ▪ Board Sustainability Committee, Group Sustainability Committee, Site Sustainability Committee Asante Gold Sustainability Model PEOPLE INNOVATION & TECHNOLOGY ENVIRONMENTGOVERNANCE SUSTAINABILITY GOVERNANCE 27 Asante has significant Ghanaian ownership and support from the Local and National Governments. Community Relations are excellent at both mines. https://www.asantegold.com/ TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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MULTIPLE CATALYSTS FOR GROWING PRODUCTION 28https://www.asantegold.com/ TSX-V: ASE • GSE: ASG • OTCQX: ASGOF ✓ Completed Bibiani commissioning ✓ Completed TSX Venture Exchange listing ✓ Started Bibiani new sulphide plant operation ✓ Started mining Aboduabo open pit (Chirano) ✓ Start Bibiani UG development ▪ Increase Chirano mine production rate to 4Mt/yr ▪ Advance Chirano UG development ▪ Advance process plant to 88% recovery (Bibiani) Chirano and Bibiani Offer Strong Operating Base +7.5 Mtpa Milling Capacity Total reserves of 3.0Moz; total M&I Resources of 4.6 Moz and total Inferred Resources of 2.2 Moz Proven Leadership Experienced team of operators (Barrick, Anglo Ashanti, Cardinal, Asanko, Kinross), with exploration track record and exceptional local relationships Organic Growth Production to grow to 500k oz by 2028 Operational Synergies and Exploration Potential Two process plants 15km apart, within an 83km shear zone, which has produced over 8 Moz of gold produced to date Why Asante?2026 OUTLOOK Attractive Valuation Under valued compared to peers
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https://www.asantegold.com/ DISCLAIMER 29 CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospectus and opportunities to differ materially from those expressed or implied by such forward- looking statements, including statements regarding the Chirano Gold Mine, the Bibiani Gold Mine and the Kubi Gold Mine. Examples of such forward-looking statements include, but are not limited to, statements regarding: estimated guidance for production costs of sales; all-in sustaining costs of sales; future production growth; the future price of gold; timing and amount of estimated future production; estimates and the realization of such estimates; the ability to leverage existing local Ghanaian relationships; the ability to progress from exploration stage to production stage quickly; the Company's ability to meet its ESG objectives; the ability to generate operational efficiencies and to leverage such efficiencies to increase mine life through exploration; throughput rates at the Company's operations; the Company's ability to increase LOM, throughput, recovery and mill feed grade at the Chirano Gold Mine and the Bibiani Mine; the expected performance of the Company relative to industry peers; the Bibiani and Chirano deposits being situated near the most significant gold deposits in West Africa; the ability to reduce ASIC; the ability to capitalize on any synergies existing between Chirano and Bibiani; the timing and ability to complete future exploration and development activities at the Company's properties; the Bibiani-Chirano gold corridor being prospective for gold well beyond the current operations; and the Company’s ability to complete external financing. Forward-looking statements are necessarily based upon a number of factors and assumptions, including material estimates and assumptions that, while considered reasonable by the Company as at the date of this presentation, are inherently subject to significant financial, political, economic, and competitive uncertainties and contingencies. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be place on these statements, which only apply as of the date of this presentation, and no assurance can be given that such events will occur in the disclosed time frames. Except as required by applicable Canadian securities laws and the policies of the Canadian Securities Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements made herein concerning the Company, and factors that could cause actual results to differ materially from the forward-looking statements included herein, please refer to the public disclosure record of Asante Gold Corporation, including the annual information form of Asante Gold Corporation for the year ended January 31, 2023, and the most recent annual and interim financial statements and related management's discussion and analysis of the Company, copies of which are available on SEDAR+ (www.sedarplus.com) under the Company's issuer profile. MINERAL RESOURCES AND MINERAL RESERVES This presentation uses the terms measured, indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource and mineral reserve estimates disclosed in this presentation may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource and mineral reserve estimates are classified in accordance with the Canadian disclosure requirements of Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101. Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. PEERS The comparable information about other issuers was obtained from public sources and has not been verified by the Company. Comparable means information that compares an issuer to other issuers. The information is a summary of certain relevant operational and valuation attributes of certain mining and resource companies and has been included to provide the prospective investor an overview of the performance of what are expected to be comparable issuers. The comparables are considered to be an appropriate basis for comparison with the Company based on their industry, size, operating scale, commodity mix, jurisdiction, capital structure and additional criteria. The comparable issuers face different risks from those applicable to the Company. Investors are cautioned that there are risks inherent in making an investment decision based on the comparables, that past performance is not indicative of future performance and that the performance of the Company may be materially different from the comparable issuers. If the comparables contain a misrepresentation, investors do not have a remedy under securities legislation in any province in Canada. Accordingly, investors are cautioned not to put undue reliance on the comparables in making an investment decision. USE OF NON-IFRS MEASURES This presentation includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards (“IFRS”), including “all-in sustaining costs” (or “AISC”), “earnings before interest, taxes, depreciation and amortization” (or “EBITDA”), and free cashflow. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with Asante’s consolidated financial statements. Readers should refer to Asante's Management Discussion and Analysis under the heading "Non-IFRS Measures" for a more detailed discussion of how Asante calculates certain of such measures and a reconciliation of certain measures to IFRS terms. TECHNICAL REPORTS The scientific and technical information contained in this presentation relating to the Company's mineral projects is supported by the scientific and technical information included in the following technical reports: (i) the technical report entitled “NI43-101 Technical Report and Updated Mineral Resource Estimate" dated 31 December 2023 (with an effective date of 30 April 2024) prepared by dMb Management services] (the "Chirano Technical Report"), (ii) the technical report entitled " NI43-101 Technical report and updated mineral resource estimate“ dated 31 December 2024(with an effective date of 30 April 2024) prepared by dMb Management services (the "Bibiani Technical Report"); and (iii) the technical report entitled "NI 43-101 Technical Report, Kubi Gold Project, Ghana, West Africa" dated August 29, 2022 (with an effective date of March 11, 2022) prepared by David Michael Begg, Pr. Sci. Nat., GSSA, SAIMM of dMb Management Services and Clive Wyndham Brown, Bsc. (Eng.) Mining, Pr. Eng. and Ian Jackson, B. Eng., FIMMM, MSAIMM of BARA Consulting (Pty) Ltd. (the "Kubi Technical Report"). Such technical reports are subject to certain assumptions, qualifications and procedures described therein. Reference should be made to the full text of the technical reports, which have been filed with Canadian securities regulatory authorities pursuant to NI 43-101 and are available for review under the Company's profile on SEDAR+ at www.sedarplus.com.
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HEAD OFFICE 615-800 West Pender St. Vancouver, BC V6C 2V6 Canada GHANA OFFICE 17 Jungle Avenue East Legon Accra, Ghana info@asantegold.com https://www.asantegold.com/ 30 TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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BOARD OF DIRECTORS Malik Easah Executive Chairman A resident of Ghana, Mr. Easah was a founding Director of Cardinal Resources Limited responsible for acquisition of all tenements. He played a key role in the discovery and development of Cardinal Resources seven million-ounce Namdini Gold Project in Northern Ghana. Cardinal was acquired by Shandong Gold in 2021 for ~Aus$600 million. Bashir Ahmed Director & Technical Committee Chair A resident of Ghana, Mr. Ahmed, is a mining engineer with over 40 years’ experience in mine operations, production and management. He is a former Mine Manager at the Obuasi Gold mine, responsible for annual capital budgets of US$100 million. Alex Heath Lead Independent Director, Audit Committee Chair A resident of Canada, Mr. Heath has 15 years’ corporate finance, investment banking and capital markets experience focused on the mining industry. He has worked on major equity offerings, valuations, fairness opinions and M&A transactions. https://www.asantegold.com/ 31 Dr. Roger Norwich Independent Director, Member of Audit Committee Dr. Roger Norwich is a resident of Great Britain. He is a founding director of Mexican Silver Mines (TSX-V) and was instrumental in merging with Rio Alto Mining (TSX & NYSE) which became a significant gold producer in Peru and was subsequently sold to Tahoe (NYSE) for US$1.12billion. Dr Alireza Abbassi Monjezi Independent Director Dr Alireza Abbassi Monjeziis a resident of Great Britain. He is a senior professional He obtained his PhD in Chemical Engineering from the University of Surrey (UK). Dr Alireza is listed by the UK Royal Academy of Engineering as one of the UK's 274 engineering icons of all time Alexander Smirnov Independent Director Mr. Smirnov is a resident of Dubai, UAE and the CEO of Dubai based Emiral Resources Ltd. which is focused on international natural resources exploration, development, production, trading, and procurement. Dave Anthony President & CEO A resident of Canada Mr. Anthony holds a BSc Mining and Mineral Process Engineering from Queen’s University. He has +45 years’ senior management & executive experience in mine project development and operation. TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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https://www.asantegold.com/ $500M FINANCING PACKAGE SUMMARY 32 Financing Package includes C$237M equity bought deal private placement and the following instruments: Instrument Terms Commitment Senior Debt Facility:* $150M Term loan: $130M Five-year term, with an 18-month grace period and principal amortization over the following 42 months, initially bearing interest at a rate of SOFR + 6.50% • FirstRand Bank - $60M • Appian - $40M • Ecobank Ghana - $35M • Fidelity Bank Ghana - $15MRevolving credit facility: $20M Three-year term and will bear interest at a rate of SOFR + 4.50%. Subordinated Debt Facility: up to $125M Seven-year term and an interest rate of SOFR + 9.75%. During the first 24 months of the term of the Subordinated Debt Facility, Asante will have the option to satisfy interest payments in cash or payment-in-kind (PIK). The Subordinated Debt Facility will be repaid in 20 equal quarterly instalments, subject to compliance with certain distribution tests as defined under the Senior Debt Facility. • Appian - $75M • Helikon - $50M Gold Stream: $50M Asante to sell 1.50% of payable gold sold from the Bibiani Mine and Chirano Mine at 20% of the prevailing market price for 24 months. Thereafter, the Gold Stream will increase to 2.25% until certain delivery thresholds are met, at which point the Gold Stream will be reduced to 0.30%. The Gold Stream contains a buy-back provision for Asante, subject to certain timing and return thresholds being met. • Appian - $50M * The Senior Debt Facility contains an accordion feature for a further $30M increase at a later date. In addition, RMB will provide credit lines of approx. $50M to support a downside price protection program through 2027, as well as an environmental guarantee of $10M. TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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BIBIANI TECHNICAL REPORT HIGHLIGHTS NI 43 101 Technical Report – April 30, 2024 Based on Mineral Reserves Only Mine type OP and UG LOM OP strip ratio (x) 14.1 Ore tonnes mined/processed (Mt) 27.9 Avg. gold grade processed (g/t) 2.19 Avg. gold recovered (%) 91 Total gold produced (Moz) 1.8 Mine life (years) 8 Avg. annual gold production (koz pa) 222 Total cash cost (per oz) $942 AISC (per oz) $1,216 Capital costs $355M Sustaining capital $487M NPV5% $464M IRR (%) 53 Amounts above use a $1,900/oz base case gold price. All amounts are in US dollars. 33 1 2 5 3 6 4 7 1. CIL 2. Flotation area (SCRP) 3. Flotation MCC 4. Conditioning tank 5. Regrind region (SCRP) 6. Regrind region MCC 7. Second oxygen plant (10TON)
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CHIRANO TECHNICAL REPORT HIGHLIGHTS* Significant opportunity to extend mine life NI 43 101 Technical Report – April 30, 2024 Mine type OP and UG LOM OP strip ratio 6.3 Ore tonnes mined/processed (Mt) 18.7 Avg. gold grade processed (g/t) 1.75 Avg. gold recovered (%) 92 Total gold produced (koz) 967.5 Mine life (years) 7 Avg. annual gold production (koz pa) 138,221 Total cash cost (per oz) $1,161 AISC (per oz) $1,289 Capital costs $94.0M Sustaining capital $86.3M NPV5% $257.3M *Mineral Reserves Only Amounts above use a $1,900/oz base case gold price. All amounts are in US dollars. 34 TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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BIBIANI – SOUTH RUSSEL EXPLORATION & DEVELOPMENT • Located on the Bibiani Shear Zone, 5km north of Aboduabo and 3.8km south of the Bibiani Process Plant. • Exploration currently pursuing the depth extension of the southerly plunging shoot. • Plan view map of South Russel Pits 2 leading to future underground development with Constrained Indicated Resources of ~210K oz Au 35
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OBRA 2024 Drilling Results • (21) holes drilled totaling 6,100m to-date aimed at extension and resource upgrade • Latest Results continue to demonstrate strong continuity of mineralization along strike to define potential extension of reserves to the north creating upside to the LOM at Obra • These intercepts are reported outside of the current NI-43 101 shapes and increase strike length from 400m to 700m, plus increased reserves/resources by 350koz • This is a significant development toward unlocking the potential between Obra and Sariehu which support the view of developing the North Mine Complex to become a long life mine, with integrated infrastructure OBRA UG – CONTINUES TO GROW https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information 36TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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Sariehu- Mamnao GAP 2024 Drilling Update • Successfully completed drilling at GSM aimed at extending shoot for open pit mining between the two pits • Results received support mining within the gap and demonstrate long life open pit mining with strong down dip extensions • Initial optimization runs look positive for reserve conversion • Benefits and strategic rationale: • 80K Additional ounces to extend LOM • Leverage other underground developments SARIEHU- MAMNAO GAP 2024 https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information 37TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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• AngloGold Ashanti previously mined 58,696 oz Au @ 3.65g/t from surface oxide ore and backfilled the pit as the northward strike extent encroached on the forest reserve. • Asante has now been granted a permit to drill within the forest reserve and has completed drill pad preparation • US$1.3M budget to complete resource extension and conversion drilling for 4100m RC and 1000m DD currently underway at Kubi targeting oxides north of the old pit anticipated completion Q4 2024 • Current NI 43-101 resource estimate, completed by SEMS Exploration Services Ltd. of Accra, Ghana: Measured & Indicated 1.32Mt at 5.48g/t 233koz • Inferred 0.67Mt at 5.31g/t 115koz Mineral resources that are not mineral reserves do not have demonstrated economic viability KUBI GOLD MINE - DEVELOPMENT 38 https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information 1 kilometres 0.50 Kubi Pit Proposed Drilling 2024 TSX-V: ASE • GSE: ASG • OTCQX: ASGOF
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• Preliminary design of portal & underground exploration workings initiated • Excellent mining infrastructure; experienced labor available; near the major high-grade Obuasi mining camp • 20-year renewable mining lease, 3 years remaining • Planned infill phase 1 and phase 2 drilling • Potential to upgrade near surface oxide resources by infill drilling • Metso Outotec completed a conceptual engineering assessment • Metallurgical test results indicate up to 95% recovery with gravity and CIL KUBI GOLD MINE - DEVELOPMENT 39 https://www.asantegold.com/ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information TSX-V: ASE • GSE: ASG • OTCQX: ASGOF