Asanko Gold announces production results for the second quarter of 2019

<p clbad = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "VANCOUVER, British Columbia, July 10, 2019 (GLOBE NEWSWIRE ) – Asanko Gold Inc. ("Asanko" or the "Company") (TSX, NYSE US: AKG) is pleased to announce the production results for the 2019 second quarter ("Q2") of the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. The AGA is a 50:50 joint venture with Gold Fields Ltd (JSE, NYSE: GFI) managed and operated by Asanko. All amounts are in US dollars unless otherwise indicated.
"data-reactid =" 11 "> VANCOUVER, British Columbia, July 10, 2019 (GLOBE NEWSWIRE) – Asanko Gold Inc. ("Asanko" or the "Company") (TSX, NYSE US: AKG) is pleased to announce the production results for the 2019 second quarter ("Q2") of the Asanko Gold Mine ("AGM"), located in Ghana, West Africa. The AGA is a 50:50 joint venture with Gold Fields Ltd (JSE, NYSE: GFI) managed and operated by Asanko. All amounts are in US dollars unless otherwise indicated.

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Highlights of the AGM for the second quarter (100% basis):"data-reactid =" 12 ">Highlights of the AGM for the second quarter (100% basis):

• Record $ 85.6 million from record gold sales of 66,337 ounces at
  an average realized price of $ 1,290 an ounce
• Record gold production of 62,067 ounces, reaching the 2019 production target
• 1.06 million tonnes ("Mt") of ore mined, including 0.53 Mt of ore from the Esaase pit
• Record treated 1.38 Mt of ore with an average gold grade of 1.5 grams per tonne ("g / t")
• Maintains strong safety performance without lost time injuries during the quarter

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = ""The second quarter of 2019 was a very good quarter. The Asanko gold mine has set new records in terms of production, sales and revenue. This is particularly impressive given that we are in the final stages of waste extraction following Cut 2's opposition to Nkran. The redesign of Section 2 will be substantially completed in the third quarter of 2019, marking the end of our investment program, and will allow the mine to focus on cash generation." commented Greg McCunn, General Manager. "We remain on track to meet our annual production target for 2019 of 225,000 to 245,000 ounces. "" Data-reactid = "19">"The second quarter of 2019 was a very good quarter. The Asanko gold mine has set new records in terms of production, sales and revenue. This is particularly impressive given that we are in the final stages of waste extraction following Cut 2's opposition to Nkran. The redesign of Section 2 will be substantially completed in the third quarter of 2019, marking the end of our investment program, and will allow the mine to focus on cash generation." commented Greg McCunn, General Manager. "We remain on track to meet our annual production target for 2019 of 225,000 to 245,000 ounces. "

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Health and security& nbsp;
No time-loss injuries (LTIs) were reported during the quarter. As of June 30, 2019, the mine had operated for more than 27 months without LTI. "Data-reactid =" 20 ">Health and security
No time-loss injuries (LTIs) were reported during the quarter. As of June 30, 2019, the mine had reached 27 months without LTI.

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Production
During the quarter, the AGA obtained ore from the Nkran, Esaase and Dynamite Hill pits, as well as mine storage facilities. In Nkran, the waste extraction activities have entered the final phase of the decline in the west, with substantial completion expected in the third quarter of 2019. During the quarter, 5.75 million tonnes of waste and 0.09 million ore at a gold grade of 1.5 g / t was extracted from the Nkran pit. The Esaase Pit delivered 0.53 Mt of ore at a grade of 1.6 g / t and 1.10 Mt of waste mined. Dynamite Hill delivered 0.43 Mt of ore at a grade of 1.6 g / t and 0.95 Mt of waste mined. "Data-reactid =" 21 ">Production
During the quarter, the AGA obtained ore from the Nkran, Esaase and Dynamite Hill pits, as well as mine storage facilities. In Nkran, the waste extraction activities have entered the final phase of the decline in the west, with substantial completion expected in the third quarter of 2019. During the quarter, 5.75 million tonnes of waste and 0.09 million ore at a gold grade of 1.5 g / t was extracted from the Nkran pit. The Esaase Pit delivered 0.53 Mt of ore at a grade of 1.6 g / t and 1.10 Mt of waste mined. Dynamite Hill delivered 0.43 Mt of ore at a grade of 1.6 g / t with 0.95 Mt of waste mined.

The processing plant milled 1.38 Mt at a gold grade of 1.5 g / t during the quarter, with an average metallurgical recovery of 93%.

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Sales and cash& nbsp;
Gold production for the quarter reached a record high of 62,067 ounces, with record gold sales of 66,337 ounces at an average realized price of US $ 1,290 per ounce, generating a record sales product of US $ 399. $ 85.6 million for the joint venture. At the end of the quarter, the joint venture had approximately $ 22.7 million in un-audited cash (including a $ 3.0 million restriction to a gold hedge counterpart), 7 gold receivables, $ 1 million and $ 2.4 million in debt (with a market value of $ 3.7 million). ) "data-reactid =" 25 ">Sales and cash
Gold production for the quarter reached a record high of 62,067 ounces, with record gold sales of 66,337 ounces at an average realized price of US $ 1,290 per ounce, generating a record sales product of US $ 399. $ 85.6 million for the joint venture. At the end of the quarter, the joint venture had approximately $ 22.7 million in un-audited cash (including a $ 3.0 million restriction to a gold hedge counterpart), 7 gold receivables, $ 1 million and $ 2.4 million in debt (with a market value of $ 3.7 million). )

The Company held $ 6.8 million of unverified cash at the end of the quarter and is expected to receive an additional $ 20 million related to the JV transaction upon completion of specific development milestones for Esaase or by no later than 31 December 2019.

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Declaration of qualified person
Frederik Fourie, Senior Mining Engineer at Asanko (Mining Engineer), is Qualified Person Asanko, as defined by National Instrument 43-101 Standards for Disclosure of Minerals in Canada, who has approved the preparation of the technical content of this press release. press. "Data -reactid =" 27 ">Declaration of qualified person
Frederik Fourie, Senior Mining Engineer at Asanko (Mining Engineer), is the Qualified Person Asanko within the meaning of Canada's National Instrument 43-101 Standards of Disclosure for Minerals, which has approved the preparation of the technical content of this press release.

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "About Asanko Gold Inc.
Asanko's flagship project, located in Ghana, West Africa, is the Asanko gold mine owned jointly with Gold Fields Ltd, managed and operated by Asanko. The company is firmly committed to the highest standards of environmental management, social responsibility, health and safety for its employees and the surrounding communities. For more information, please visit www.asanko.com"data-reactid =" 28 ">About Asanko Gold Inc.
Asanko's flagship project, located in Ghana, West Africa, is the Asanko gold mine owned jointly with Gold Fields Ltd, managed and operated by Asanko. The company is firmly committed to the highest standards of environmental management, social responsibility, health and safety for its employees and the surrounding communities. For more information, visit www.asanko.com.

<p clbad = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Forward-looking information and other cautionary information
This press release contains certain statements that may be regarded as "forward-looking statements". All statements in this release, other than statements of historical fact, that relate to the estimated quantities of resources, grades and metals contained, as well as future mining, exploration and development activities, are forward-looking statements. Although the Company believes that the forward-looking statements are based on reasonable badumptions, such statements should not be construed as guarantees of future performance and actual results or developments may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those reflected in forward-looking statements include metal market prices, findings of detailed feasibility and technical badyzes, timely renewal of key permits, grades and lower than expected resource levels, extraction rates and recovery rates and lack of availability of required capital, which may not be available to the Company on terms acceptable to it or not at all. The Company is subject to the specific risks inherent in mining activities as well as the economic and business conditions. For more information, Investors are urged to refer to the Company's Annual Filings with the US Securities and Exchange Commission on Form 40 of the Company, as well as the documents of their respective United States of America. origin available at the following address: www.sedar.com."data-reactid =" 29 ">Forward-looking information and other cautionary information
This press release contains certain statements that may be regarded as "forward-looking statements". All statements in this release, other than statements of historical fact, that relate to the estimated quantities of resources, grades and metals contained, as well as future mining, exploration and development activities, are forward-looking statements. Although the Company believes that the forward-looking statements are based on reasonable badumptions, such statements should not be construed as guarantees of future performance and actual results or developments may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those reflected in forward-looking statements include metal market prices, findings of detailed feasibility and technical badyzes, timely renewal of key permits, grades and lower than expected resource levels, extraction rates and recovery rates and lack of availability of required capital, which may not be available to the Company on terms acceptable to it or not at all. The Company is subject to the specific risks inherent in mining activities as well as the economic and business conditions. For more information, Investors are urged to refer to the Company's Annual Filings with the US Securities and Exchange Commission on Form 40 of the Company, as well as the documents of their respective United States of America. origin available at the following address: www.sedar.com.

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