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Asanko Gold Mine Global Mineral Reserve Estimate

Asanko published an updated Mineral Resource and Reserve Estimate, as at December 31, 2016 on February 24, 2017, for full details please click here

Table 1: Asanko Gold Mine Global Mineral Resource Estimate (as at December 31, 2016)

Deposit Measured Indicated Total (M&I)
Mt g/t Au Moz Mt g/t Au Moz Mt g/t Au Moz
Esaase Main 26.64 1.37 1.17 65.50 1.37 2.89 92.14 1.37 4.06
Nkran 5.58 1.67 0.30 34.71 1.68 1.87 40.29 1.68 2.17
Abore 2.30 1.39 0.10 4.68 1.33 0.20 6.98 1.35 0.30
Dynamite Hill - - - 3.80 1.45 0.18 3.80 1.45 0.18
Akwasiso - - - 4.61 1.20 0.18 4.61 1.20 0.18
Adubiaso 0.83 2.35 0.06 1.57 1.89 0.10 2.40 2.05 0.16
Esaase D 0.97 1.09 0.03 1.35 1.39 0.06 2.33 1.26 0.09
Esaase B 0.87 0.99 0.03 2.21 0.76 0.05 3.08 0.82 0.08
Asuadai - - - 1.97 1.21 0.08 1.97 1.21 0.08
Adubiaso Ext. 0.16 1.94 0.01 0.31 1.59 0.02 0.47 1.71 0.03
Nkran Ext. - - - 0.20 2.61 0.02 0.20 2.61 0.02
Total 37.36 1.42 1.71 120.91 1.45 5.63 158.27 1.44 7.34
Notes:
All pits are at a cut-off of 0.5g/t Au within a US$2,000 per ounce of gold pit shell.
Nkran includes depletion of 5.08Mt at 1.66 g/t Au for 270,471 ounces.
All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
CSA Global undertook the MRE for Nkran and Dynamite Hill and reviewed the Esaase Main pit.
CJM undertook and completed updates to the MRE on Abore, Asuadai, Esaase B and D zones, Akwasiso, Adubiaso, Adubiaso Extension and Nkran Extension.

Table 2: Asanko Gold Mine Global Mineral Resource Estimate (as at December 31, 2016)

Deposit Inferred
Mt g/t Au Moz
Esaase Main 0.95 1.37 0.04
Nkran 1.69 1.77 0.10
Abore 5.37 1.44 0.25
Dynamite Hill 1.19 1.43 0.05
Akwasiso 3.85 1.56 0.19
Adubiaso 0.30 1.98 0.02
Esaase D 1.17 1.24 0.05
Esaase B 2.46 0.84 0.07
Asuadai 0.92 1.61 0.05
Adubiaso Ext. 0.24 2.55 0.02
Nkran Ext. 0.02 1.12 0.00
Total 18.17 1.43 0.83
Notes:
All pits are at a cut-off of 0.5g/t Au within a US$2,000 per ounce of gold pit shell.
Nkran includes mining depletion 5.08Mt at 1.66 g/t Au for 270,471 ounces.
All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
CSA Global undertook the MRE for Nkran and Dynamite Hill and reviewed the Esaase Main pit.
CJM undertook and completed updates to the MRE on Abore, Asuadai, Esaase B and D zones, Akwasiso, Adubiaso, Adubiaso Extension and Nkran Extension.

Asanko Gold Mine Global Mineral Reserve Estimate

Table 3: Asanko Gold Mine Global Mineral Reserve Estimate (as at December 31, 2016)

Deposit Proven Probable Total
Mt g/t Au Moz Mt g/t Au Moz Mt g/t Au Moz
Esaase Main 22.8 1.40 1.03 36.5 1.38 1.62 59.39 1.39 2.65
Nkran 3.96 1.98 0.25 18.57 2.04 1.22 22.53 2.03 1.47
Abore 1.35 1.62 0.07 1.77 1.70 0.01 3.12 1.66 0.17
Adubiaso 0.96 2.19 0.07 1.23 1.92 0.08 2.19 2.04 0.14
Dynamite Hill 0.00 0.00 0.00 2.62 1.60 0.13 2.62 1.60 0.13
Akwasiso 0.00 0.00 0.00 3.03 1.38 0.13 3.03 1.38 0.13
Asuadai 0.00 0.00 0.00 1.08 1.23 0.04 1.08 1.23 0.04
Nkran Ext. 0.24 1.98 0.02 0.26 1.79 0.01 0.50 1.88 0.03
Esaase D 0.20 1.05 0.01 0.40 1.70 0.02 0.62 1.50 0.03
Adubiaso Ext. 0.11 2.26 0.01 0.10 1.68 0.01 0.22 1.98 0.01
Esaase B 0.10 0.83 0.00 0.00 0.92 0.00 0.13 0.85 0.00
Total 29.8 1.52 1.45 65.6 1.60 3.37 95.41 1.57 4.82
Notes:
Nkran includes depletion since February 2015 of 5.08Mt at 1.66 g/t Au for 270,471 ounces.
Reserves excludes the ROM stockpile of 1.52Mt at 1.36 g/t Au for 66,669 ounces and the marginal stockpile of 0.43Mt at 0.67 g/t Au for 9,121 ounces.
All pits are at a cut-off of 0.8g/t Au, except Esaase Main, Esaase B and D zones, which are at a cut-off of 0.6g/t Au.
Reserves estimated at a US$1,300/oz gold price.
All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding.
Only Measured and Indicated Mineral Resources were converted to Mineral Reserves.

Qualified Person Statements
Malcolm Titley (CSA Global Principal Geologist; AIG), is the Qualified Person for the sign off of the Nkran and Dynamite Hill MRE. Charles J. Muller, (B.Sc. Geology (Hons), PR.Sci.Nat., MGSSA, a Director of CJM Consulting Pty Ltd. (“CJM”) of Johannesburg, South Africa) is the Qualified Person for the sign off of the Esaase Main, Esaase B and D zones, Abore, Adubiaso, Adubiaso Extension, Asuadai, Akwasiso and Nkran Extension MRE. The MREv are reported in accordance with Canadian National Instrument 43-101 requirements and the South African Code of Reporting of Exploration Results (SAMREC), which is consistent with the CIM Estimation Best Practice Guidelines in Canada. Mr Titley and Mr. Muller have reviewed and approved the technical content of this news release. Phil Bentley, Asanko Executive: Geology and Resources (Pr.Sci.Nat.) is the Asanko Qualified Person under NI 43-101 guidelines who assumes technical responsibility for Mineral Resource contents of this news release.

The Reserve Statements were all prepared by Thomas Obiri-Yeboah, B.Sc. Mining Engineering (Hons), PR.Eng, a Senior Mining Engineer of DRA Mining (Pty) Ltd. (“DRA”) of Johannesburg, South Africa. The reserve is reported in accordance with Canadian National Instrument 43-101 requirements, which is consistent with the CIM Estimation Best Practice Guidelines in Canada. Frederik Fourie, Asanko Senior Mine Engineer (Pr.Eng.) is the Asanko Qualified Person under NI 43-101 who assumes responsibility for the Mineral Reserve contents of this news release. Mr. Obiri-Yeboah has reviewed and approved the technical content of this news release.

Notes on Mineral Terminology
MineralResources and Reserves are derived from Canadian Institute of Mining definitions. Similar terminologies are in use in Australia (JORC) and South Africa (SAMRAC) and are being considered in the United States.

Mineral resources do not have demonstrated economic viability, but have reasonable prospects for eventual economic extraction. They fall into three categories: measured, indicated and inferred. Measured and indicated mineral resources can be estimated with sufficient confidence to allow the appropriate application of technical, economic, marketing, legal, environmental, social and governmental factors to support evaluation of the economic viability of the deposit. For measured resources: we can confirm both geological and grade continuity to support detailed mine planning. For indicated resources: we can reasonably assume geological and grade continuity to support mine planning.

Mineral reserves are the economically mineable part of measured and/or indicated mineral resources demonstrated by at least a preliminary feasibility study. The reference point at which mineral reserves are defined is the point where the ore is delivered to the processing plant. Mineral reserves fall into two categories: a) proven reserves: the economically mineable part of a measured resource for which at least a preliminary feasibility study demonstrates that economic extraction is justified; and b) probable reserves: the economically mineable part of a measured and/or indicated resource for which at least a preliminary feasibility study demonstrates that economic extraction is justified.

United States investors are advised that while “Measured” and “Indicated” resources are recognized and required by Canada and other countries, the United States Securities and Exchange Commission does not recognize them. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.