Asante Gold Corporation · TSXV:ASE
Asante Gold — Investor Presentation (October 2023)
39 slides from Asante Gold's investor presentation, Oct 23, 2023
Slide 1: West African Mid-Tier Gold Producer
azonte WEST AFRICAN MID-TIER GOLD PRODUCER Ae MINE OPERATIONS « PROJECT DEVELOPMENT « EXPLORATION BIBIANI MINE CHIRANO MINE CSE:ASE + GSE:ASG » OTC:ASGOF + FSE:1A9 October 23, 2023
Slide 2: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ ➢ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 3: Chirano
Chirano ❖ ❖ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 4: Management
MANAGEMENT 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
Slide 5: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
❖ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 6: Total Foreign Holders vs Total Ghanaian Holders
Total Foreign Holders 54% (fully diluted) Total Ghanaian Holders 46% (fully diluted) 54.6NNNN Total Foreign Holders Total Ghanaian Holders
Slide 7: Company milestones and share price history
Price: $CAD June 2, 2022 - ASE Announces Start of Process Plant Operation at the April 26, 2023 - ASE Share price February 16, 2022 - Bibiani Mine January 19, 2023 - ASE market @ C$2.180 $100 million financing capitalization C$716.5M. Share announced at C$1.75 June 29, 2022 – ASE price @ C$1.90 Comm
Slide 8: Peer comparison and re-rate potential
1,500 1,200 400-450 Koz by 2025 900 260 Koz 600 350 ) 300 0 Endeavour Perseus Asante Resolute WAR Pan African Orezone Firefinch Thor Hummingbird Caledonia Shanta Gold Galiano Robex 1.2x Re-Rate Potential 1.0x 0.8x 0.6x 0.6x 0.4x 0.2x 0.0x Endeavour Perseus Pan African WAR Asante Caledonia Galiano Th
Slide 9: Digbee ESG Platform, Key Sustainability Focus Areas
DIGBEE ESG PLATFORM ▪ 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 audit will PEOPLE be conducted Q2 2023 KEY SUSTAINABILITY FOCUS AREAS PEOPLE ▪ Healt
Slide 10: Sustainability standards and policies
STANDARD ▪ The UN Sustainable ▪ The UN Voluntary ▪ The ICMM Mining ▪ The UN Guiding ▪ The IFC Performance Development Goals Principles on Security Principles define Principles on provide Standards are an DESCRIPTION provide a framework and Human Rights. good practice a global standard for internatio
Slide 11: Community development: sports, education, health
SPORTS ENTREPRENEURIAL OPERATOR EDUCATION HEALTH DEVELOPMENT DEVELOPMENT TRAINING Children’s Ward MGBL Basic School Bibiani GoldStars SC Bibiani Hospital Vocational Skills CAT Simulator ▪ Student population – 400 ▪ Only Premier League Club ▪ Fully refurbished the ▪ 12 ladies trained in sewing ▪ In c
Slide 12: Chirano: Acquired August 2022
CHIRANO: Acquired August 2022 DELIVER ON OPERATIONAL EFFICIENCIES AND INCREASE MINE LIFE THROUGH EXPLORATION AT ACQUISITION CURRENT TARGET INITIATIVES PLANNED/TAKEN INCREASE 92% ✓ Gravity Recovery Plant, Oxygen 85% 86% RECOVERY Plant, to be on stream Q4 2023 AT ACQUISITION CURRENT TARGET INCREASE ✓
Slide 13: Bibiani: Acquired August 2021
BIBIANI: ACQUIRED AUGUST 2021 INCREASE OPERATING EFFICIENCIES, INCREASE MINE LIFE THROUGH EXPLORATION, INCREASE PRODUCTION WITH UNDERGROUND OPERATIONS AT ACQUISITION CURRENT TARGET INITIATIVES PLANNED/TAKEN ✓ Oxygen Plant, on line Q4 2023 INCREASE 85% ✓ Cut the Goaso Highway to access 70% 92% RECOVE
Slide 14: Asante portfolio: high quality mines, 2021 production vs AISC
900 MEGA TIER I MINES 800 Kibola ASANTE PORTFOLIO: Organically re-positioning our assets into the “high quality” category with 550Koz/y Au @ US$1,200 AISC 700 Loulo Delivery = Re-Rate 600 2021 PRODUCTION (KOZ AU) Fekola Tarkwa 500 Ahafo Essakane HIGH QUALITY MINES GHANAIAN GOLD MINES 400 Obuasi (202
Slide 15: Asante portfolio: 10+ year mine life
900 10+ YEAR MINE LIFE ASANTE PORTFOLIO: Through Kibola 800 exploration, aim to grow the Reserve life to 10+ years GHANA GOLD MINES 700 Delivery = Re-Rate Loulo 2021 PRODUCTION (KOZ AU) 600 Fekola Tarkwa 500 Ahafo Essakame Obuasi (2024+) 400 Akyem Bibiani Sabadola (2024) Sambrado 300 Damang Hounde I
Slide 16: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
• • • • • See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 17: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
❖ • • ❖ • • • See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 18: Chirano - Business Improvement
CHIRANO - BUSINESS IMPROVEMENT Increase gold production by 45% and reduce AISC by 20% by 2024 Y % EXPLORATION Invest $6M/y in near mine and regional exploration for years 2023, 2024, 2025 to increase LOM from 5 to >10 years MINE PLANNING Utilize $1750/oz for resource & reserve calculation (from $120
Slide 19: Summary of Mineral Reserve and Resource at December 31, 2021
Summary of Mineral Reserve at December 31, 2021 Reserve Tonnes Grade Au Ounces Classification (000’s) (g/t) (000’s) Proven 4,777 1.63 250.5 Stockpile(s) 823 0.79 20.9 Subtotal 5,600 1.51 271.4 Probable 10,160 2.2 718.3 TOTAL Mineral Reserves 15,760 1.95 989.7 Summary of Mineral Resource at December
Slide 20: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
❖ See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 21: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 22: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
• • • • • • • See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 23: Planned business improvement initiatives; underground development
❖ Includes planned business improvement initiatives ❖ Underground development starts Q4 2025 See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 24: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 25: Phase II Drilling Results
❖ • • • • • • • Phase II Drilling Results See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 26: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 27: South Russel starter pit location
South Russel starter pit location See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 28: Disclaimer
DISCLAIMER 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 ex
Slide 29: Thank You
HANK YOU. ~ ee - - . 2 oe ' Se CORASE + GSE:ASG OTC:ASGOF « FSE:149 - z i Mee: oe
Slide 30: Financial, Technical, Legal & Operations Leadership
FINANCIAL, TECHNICAL, LEGAL & OPERATIONS LEADERSHIP Eben Swanepoel VP Technical Services and Capital Projects A resident of South Africa, Mr. Swanepoel has 43 years experience in open pit and underground mining. He holds a Masters in Engineering, GDE in Mineral Economics and a 4-year diploma in Mine
Slide 31: Board of Directors
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
Slide 32: Chirano Obra 2022 Results
CHIRANO OBRA 2022 RESULTS o o o o See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 33: Bibiani Main Pit cross-sections
BIBIAN RESOURCE MAIN PIT - CROSS — SECTIONS FROM CURRENT Section 5150N Section 5300N io BUDD040 30.3m@8.92g/t SLL Old Pit As-built BUDDO77— 51m@4.3g/t Le BUDDO89 22m@3.32g/t 7 m@3.32g 7 BUDDO89 fe 23m@2.389/t . {Ultimate Pit | Cut Back https://www.asantegold.com/ CSE:ASE » GSE:ASG » OTC:ASGOF « FSE:
Slide 34: Section 6275N Walsh Pit
Grade Contained Au Category Tonnes (g/t Au) (ounces) ❖ Measured & Indicated 1,887,722 1.49 90,610 ❖ Inferred 250,953 1.18 9,529 ❖ Inventory 2,138,675 1.46 100,139 ❖ ➢ ➢ ➢ SECTION 6275N ➢ WALSH PIT See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 35: Bibiani-Chirano gold corridor: current data
Based on Current Data 1. The Bibiani-Chirano gold corridor is prospective for gold well beyond the current operations 2. The corridor extends for over 50 km Grasshopper Big Mug 3. It is composed of a series for interconnecting gold- Walsh Bibiani Main Russell bearing faults and shear zones (the Bibi
Slide 36: Bibiani-Chirano corridor compared with West Africa
Based on Current Data 6. With comparison to West Africa, it is more extensive than Barrick-Randgold Loulo- Gounkoto gold trend in Mali 7. Aboduabo and Russell are showing excellent Grasshopper Big Mug results on focussed exploration drill targeting Walsh Bibiani Main Russell 8. Geophysical and struc
Slide 37: Multiple targets along the B-C corridor
11. Even at the scale of single goldfields along the B-C corridor, there are multiple targets established See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 38: See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
• • • • • • • See Disclaimer: Cautionary Statement Regarding Forward-Looking Information
Slide 39: Bibiani 6.5 Moz
• BIBIANI 6.5 Moz • • See Disclaimer: Cautionary Statement Regarding Forward-Looking Information