Asante Gold Provides Update on Bibiani Sulphide Treatment Plant Ramp-Up

Executive Summary

• The new sulphide treatment plant at Bibiani Gold Mine has completed construction and commissioning, moving to continuous 24‑hour operation as of September 29 2025.
• Gold recovery has risen from ~60% to >90% on the oxygen plant feed, with overall plant recovery now at 82% and a target of ≥92% in the near term.
• The STP’s nameplate capacity is ~4.0 Mt/y (12,000 t/d), positioning the mine for higher throughput and lower unit costs as production scales toward Q2 2026.

Key Details

• Ramp‑up Milestones – Construction/commissioning finished; 12‑hour operation began 27 Sep 2025; full 24‑hour operation started 29 Sep 2025.
• Oxygen Plant Delay – Intended delivery Sep 2025; actually commissioned 3 Dec 2025, causing a temporary slowdown in optimization.
• Gold Recovery Improvements – Post‑oxygen plant start, recovery on the STP increased from ~60% to >90%; overall plant recovery now at 82%, with an objective of ≥92% soon.
• Capacity – Nameplate capacity ~4.0 Mt/y (12,000 t/d), up from the previous 3.2 Mt/y design; aligns with plans to increase processing throughput.
• Operational Objectives – Maintain continuous 24/7 operation while optimizing flotation kinetics, concentrate regrind, and CIP processes; target ~92% overall gold recovery and ramp‑up to design capacity by Q2 2026.
• Higher‑grade Ore Processing – Shift to processing higher‑grade ore from the Main Pit in line with mine sequencing, expected to boost gold production.
• Management Comment – President & CEO Dave Anthony highlighted that continuous STP operation and ongoing optimization are “pivotal steps” for Bibiani’s growth, anticipating meaningful improvements in production and unit costs as recovery targets are met.

Notable Quotes

“The sulphide treatment plant is now running continuously and optimization is well underway. This is a pivotal step in Bibiani’s growth profile. As gold recovery moves toward our ~92% target and throughput rises to 4M tonnes per year, we expect meaningful improvements in gold production and unit costs at Bibiani.” – Dave Anthony, President & CEO

Materiality Assessment: Material – Positive (significant operational progress likely to enhance future production and economics).