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VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE/ FRANKFURT:1A9) (“Asante” or the "Company") is pleased to announce the appointment of Dr. Abdel-Majeed Haroun to the Board of Directors.
Dr. Haroun, a resident of Accra, Ghana, brings to the Board more than 30 years of hands-on experience in Ghana’s two most important industries – mining and agriculture.
He has held the positions of Deputy Minister of Mines and Deputy Minister of Agriculture. He was also the Special Advisor to Vice President Alou Mahama on the Economy and International Relations.
In addition, Dr. Haroun was the Senior Agricultural Economist for the Northern Region Rural Integrated Development Program in association with Canadian International Development Agency (CIDA).
As a Minister, he was the Chairman of the Steering Committee: for the EU43 million Mining Sector Support Project, Ministry of Mines; for the Root Crops Development Project, and the CIDA-CANADA/DFID-UK Policy Support Fund, Ministry of Food and Agriculture. He also served as a member on the Board of Ghana Oil Palm Company, and as Acting Managing Director of Prestea Sankofa Gold Ltd, a subsidiary of Ghana National Petroleum Corporation.
Dr. Majeed co-founded and is the executive director of Africa Paulownia Silviculture and Environmental Conservation Institute, a consultancy focused on reclaiming galamsey-damaged land back to environmentally sustainable agricultural use. The Institute also focuses on research to halt desertification across the African Sahel.
He is currently the CEO of the Northern Development Authority responsible for the financing and construction of the Infrastructure for Poverty Alleviation projects, the flagship vehicle to turn around the economies in the poorest regions of Ghana.
Douglas MacQuarrie, President & CEO states, “As the former CEO of PMI Gold Corporation, my team and I worked closely with Dr. Haroun to bring the abandoned Obotan mine (now the Asanko-Goldfield mine), back to life. This mine currently produces 223,000 oz of gold per year and has generated massive new investment, employment, and tax revenues for Ghana. Our shared vision to return this mine to production yielded significant capital gain opportunities to early PMI shareholders. We look forward to working with Dr. Haroun to bring the new SMD 1 mining technique developed by Anaconda Mining (ANX.TO) 2 to Ghana, and in particular to our high grade Kubi and Keyhole gold projects. This technique has the potential to slash the mining costs, development time, and capital required to take near surface vein type gold deposits to production.”
The Company also announces the granting of 500,000 incentive options at a price of $0.10 per share for a term of 5 years.
On behalf of the Board,
"Douglas R. MacQuarrie"
President and CEO
1 http://www.asantegold.com/news/asante-gold-explores-new-mining-technology-for-kubi-gold-project-ghana 2019.
2 https://www.anacondamining.com/narrow-vein-mining , 2019. https://disruptmining.com , 2019.
Scientific and technical information contained in this news release has been reviewed and approved by Douglas R. MacQuarrie, P.Geo. (B.C.) Geology & Geophysics, the President and CEO of the Company, who is a "qualified person" under NI 43-101. *Kubi Main Zone has a current NI 43-101 resource estimate, completed by SEMS Exploration Services Ltd. of Accra, Ghana: Measured Resources 0.66 million tonnes @ 5.30g/t for 112,000 ounces; Indicated Resources 0.66 million tonnes @ 5.65g/t for 121,000 ounces; and Inferred Resources 0.67 million tonnes @ 5.31g/t for 115,000 ounces, which is filed on SEDAR. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
About Asante Gold Corporation
Asante is continuing to source equity/debt or joint venture partner funding to develop the Kubi Mining Lease in Ghana as a potential near term mine; and exploring the Keyhole, Fahiakoba and Betenase concessions/options, all adjoining or along strike of major gold mines near the centre of Ghana’s Golden Triangle.
For further information, please contact:
Douglas MacQuarrie, President and CEO, tel: +1 604-558-1134; E-mail: firstname.lastname@example.org
Doreen Kent, Shareholder Communications, tel: +1 604-948-9450; E-mail: email@example.com
Valentina Gvozdeva, Business Development, E-mail: firstname.lastname@example.org
Florian Riedl-Riedenstein, Director; European Investor Relations, E-mail: email@example.com
LEI Number: 529900F9PV1G9S5YD446
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
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