Asante Gold Corporation
TSX VENTURE : ASE
FRANKFURT : 1A9

July 17, 2012 19:03 ET

Asante Gold Corporation: Early Warning Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2012) -

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 Douglas MacQuarrie, directly and indirectly has acquired 642,500 common shares through the facilities of the TSX Venture Exchange at prices ranging from $0.175 to $0.50 per share. The shares were purchased for investment purposes.

Following the above-mentioned transactions, Douglas MacQuarrie beneficially owns, directly or indirectly, 3,452,500 common shares; 1,250,000 share purchase warrants and 300,000 stock options, which upon exercise of such warrants and stock options, represents approximately 23.09% of the issued and outstanding common shares of the Company on a partially diluted basis.

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 development company, exploring the Fahiakoba Concession located in the centre of Ghana's Golden Triangle between Perseus Mining's (TSX:PRU) Edikan and AngloGold Ashanti's (NYSE:AU) Obuasi mines.

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.

Contact Information

  • 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.net