Unlocking Value & Developing Deposits in Africa MAY 2017 TSX.V: AGZ STRICTLY PRIVATE AND CONFIDENTIAL
Forward Looking Statement Except for the statements of historical fact contained herein, the information presented on this website and the information incorporated by reference herein, constitutes “forward looking information” within the meaning of applicable Canadian securities laws concerning the business, operations and financial performance and condition of Ashanti Gold Corp. (“the Company”) . All statements, except for statements of historical fact, that address activities, events or developments that management of the Company expects or anticipates will or may occur in the future including such things as future capital expenditures (including the amount and nature thereof), business strategies and measures to implement strategies, competitive strengths, goals, expansion and growth of the business and operations, plans and references to the future success of the Company, and such other matters, are forward looking statements. Often, but not always, forward looking information can be identified by words such as “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward looking information. Such risks and other factors include, among others, operating and technical difficulties in connection with mining development, actual results of exploration activities, estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs of production, capital expenditures, the costs and timing of the development of new deposits, the availability of a sufficient supply of water and other materials, requirements for additional capital, future prices of metal, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, hedging practices, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks related to joint venture operations, risks related to the integration of acquisitions, as well as risks and uncertainties discussed in the latest Management Discussion and Analysis Reports and Financial Statements (refer to the Financial Section on the Company’s website under Investors, and company filings on www.sedar.com). Shareholders are cautioned not to place undue reliance on forward looking information. The Company undertakes no obligation to update any of the forward looking information on this website or incorporated by reference herein, except as otherwise required by law. ASHANTI GOLD CORP 2 TSX.V: AGZ
Overview Capital Structure Shares Outstanding 24,275,316 Options 510,000 Warrants 3,366,029 Fully Diluted 28,151,345 TSX.V Ticker AGZ.V • Strong, experienced management team with deep Ghana and Mali experience • Only asset where team has competitive advantage • Assets with significant work already completed • Exploration adjacent to world-class gold mines • Focus on earn-in agreements to ensure funds develop assets • Information arbitrage – AIM market in London to TSX-V market in Canada Altered, silicified, Kossanto East core with veins and multi-gram Au ASHANTI GOLD CORP 3 TSX.V: AGZ
What is Ashanti Gold… Gold projects in two mining-friendly countries in West Africa: Ghana and Mali Ashanti Belt Projects (Ghana): opportunity to capitalize on Newmont’s Akyem Mine need for ore feedstock and declining grade in mine plan. No need to be stand-alone size for resource to be economically viable, chance to generate cash flow in near term. Anumso Project (Ghana): opportunity for +1M oz gold deposit in ore very similar to successful mines to the south in the same geological structure Kossanto East Project (Mali): key ground in prolific Kenieba Inlier shear zone, potential to be multi-million oz gold deposit 2018 2019 - forward Current state Finish DD, start earn-in Begin trenching, drilling, work Develop resource, supply Akyem Ashanti Belt Project with Newmont period mill Extend work along entire 10km Historical resource data Upgrade resource, prepare Anumso Project confirmation of strike, complete 51% earn-in feasibility study Historical resource data Extend work along entire 6 Kossanto East Project Upgrade resource, prepare pods of mineralization confirmation feasibility study, complete earn-in ASHANTI GOLD CORP 4 TSX.V: AGZ
Mali Project The western edge of Mali is highly gold-endowed. The Kenieba Inlier Shear Zone and the Main Transcurrent Shear Zone intersect on the Company Project’s grounds, a major geological structure for gold mineralzation. Over the last twenty years approximately 40M ounces of gold has been discovered in proximity to these structures resulting in construction of at least eight new mines, including the world class Loulo group of deposits, Sadiola, Yatela, Gounkoto, Segala and Tabakoto. Ashanti is focused on advancing past work to prove up known mineralization structures to a resource. At or near surface mineralization with large gold mineralization intercepts in past drill results, indicate potential for large gold resource. Drill core from Kossanto East, Mali ASHANTI GOLD CORP 5 TSX.V: AGZ
Kossanto East The Kossanto East Project is a 66.41 km2 concession in the prolific Kenieba Inlier, the northwestern most exposure of Birimian rocks in West Africa. The Project has hosts two principle drill-tested targets, and has four more know lenses of mineralizaton ready for drilling. Geochemical anomalies identified by previous operators led to drill testing, successful intersection of gold mineralization, and production of a JORC resource of 247,000 oz Au on Kossanto East (Under JORC MI&I @ 1.14, cutoff of 0.5 g/t). The Project has strong potential to be a +2M oz Au ore body cluster. Ashanti has the right to earn 65% of Alecto’s interest (after including the Mali State carried interest of 10%, Ashanti ownership of the property upon completion of the earn-in agreement will be 58.5%) in the Project by completing a Preliminary Feasibility Study (“PFS”) within 36 months following the date of TSXV approval (the “Option Period”) . Ashanti has the right to Outcrop at Kossanto East extend the Option Period to complete PFS by an additional 12 months for a cash payment of US$280,000 (payable in 6 month tranches of US$140,000 each). Additionally, Ashanti may elect to pay in cash US$4.0M to Alecto within 90 days following the end of the Option Period in lieu of producing a PFS. Ashanti will be the operator of the exploration and development programs during the Option Period Berola, GRB NE, GRB East, GRB West are 4 of 6 known pods of mineralization Altered, silicified, GRB East core with veins and multi-gram Au ASHANTI GOLD CORP 6 TSX.V: AGZ
Kossanto East (GBR East Highlight) View of Optimised Pit looking NE (as seen from below) View of Conceptual Optimised Pit looking NE ASHANTI GOLD CORP 7 TSX.V: AGZ
Kossanto East Historic Drill Results Hole From (m) To (m) Interval (m) Au (g/t) Hole From (m) To (m) Interval (m) Au (g/t) Gourbassi East Gourbassi West CGM_GRC01 60 75 15 2.18 GRABL7/11 0 34 34 1.55 CGM_TF07 92 99 7 3.10 incl. 6 12 6 5.89 CGM_TF11 42 55 13 2.07 GRABL27/9 6 36 30 1.28 GDD01 0 80.5 80.5 0.80 incl. 12 21 9 2.95 incl. 0 14.8 14.8 3.10 GRABL32/3 6 15 9 2.18 GRC14 24 53 29 2.70 GRABL5/11 21 33 12 1.82 incl. 28 34 6 7.94 GRC43 37 58 21 1.80 GRC-15 7 60 53 1.51 incl. 45 54 9 3.46 incl. 7 12 5 4.36 GRC46 47 55 8 1.31 incl. 19 31 12 2.55 GRC48 82 88 6 2.27 GRC16 0 75 75 2.04 GRC69 26 39 13 4.36 incl. 3 8 5 11.28 GRC76 24 141 117 0.97 incl. 17 35 13 3.88 GRC79 14 35 21 1.24 GRC17 29 75 46 2.16 incl. 17 23 6 2.56 incl. 32 49 17 3.86 GRC80 3 14 11 1.04 GRC18 47 51 4 3.72 and 43 46 3 2.95 GRC19 34 65 31 1.31 and 114 120 6 1.81 incl. 35 48 13 2.29 and 150 152 2 5.73 GRC31 72 75 3 5.22 GRC81 19 52 33 1.36 GRC32 113 119 6 4.18 incl. 33 40 7 2.40 incl. 114 118 4 5.88 ML02 10 27 17 2.05 GRC33 51 75 24 1.73 incl. 21 27 6 3.81 incl. 52 62 10 2.91 Berola 69 74 5 2.10 FRABL1/3 0 12 12 0.65 GRC34 73 81 8 2.55 FRABL1/4 0 9 9 0.83 and 90 96 6 1.21 FRABL4/6 0 15 15 1.18 GR37 12 16 4 7.96 GRD04 248 252 4 3.98 FRABL4/7 0 18 18 0.73 TF22 28 30 4 4.63 TF34 0 18 18 2.98 incl. 0 7 7 5.72 and 23 27 4 3.53 ASHANTI GOLD CORP 8 TSX.V: AGZ
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