Asante Gold Receives Speculative Buy Recommendation from Fundamental Research - Video News Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - June 28, 2016) - Today's buy recommendation comes from Fundamental Research. Analyst Siddharth Rajeev gives Asante Gold (CSE: ASE) (FSE: 1A9) a highly speculative buy rating and a fair value estimate of $0.60, a premium of 400% to the $0.12 price on June 9th, the day the report was issued.

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The company has an option to acquire up to a 100% interest in the Kubi gold project, and is focused on advancing it to production. The project is located in the highly prolific Ashanti Gold Belt in south Ghana, Africa. Ghana is Africa's second largest gold producer, with one of the best jurisdictions for mining in Africa.

The Kubi project is located approximately 25 kilometres south of AngloGold Ashanti's Obuasi mine, and approximately 18 kilometres north east of Perseus Mining's Edikan gold mine.

Based on a 2 gram per tonne cut-off, Kubi has a measured and indicated resource of 233,000 ounces (5.5 gpt) and inferred resource of 115,000 ounces (5.31 gpt), and is open to expansion at depth.

Subject to financing, management is planning to take Kubi into production with a low CAPEX of US$20 million within a 12 month timeline. Management expects the project will initially produce 30,000 to 40,000 ounces of gold per year.

Asante is led by Douglas MacQuarrie, who has been operating in Ghana since 1993, and has a track record of developing more than 6 million ounces of resources.

The company announced today that Ned Goodman was appointed Chairman, which resulted in a $0.055 or 46% increase in the share price. Mr. Goodman is well known in the Canadian investment community, having played a leadership role in the re-emergence of Canada's gold-mining industry in the 1980's, ultimately becoming the largest shareholder and chairman on International Corona, developer of the Hemlo Mine. He is also Deputy Chairman of the Canadian Securities Exchange.

Asante now trades a $0.18, well below the $0.60 target price, and with 36.2 million shares outstanding, the company is capitalized at $6.5 million.

For more information, please visit the company's website www.asantegold.com, contact Douglas MacQuarrie, President & CEO, at 604-558-1134 or by email at douglas@asantegold.com.

For investor relations or a copy of the research report, contact Doreen Kent at 604-948-9450 or by email at d.kent@eastlink.ca.

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