Kinross Gold sells portion of Asante Gold position

Kinross Gold (KGC) sold an aggregate of 36,927,650 common shares of Asante Gold Corporation (ASGOF) representing approximately 5.2% of the outstanding Shares and 100% of the Shares held by Kinross. The Shares were sold at a price per Share of C$1.98 representing an aggregate sale price of C$73,116,747. Prior to the sale, Kinross held approximately 5.2% of the outstanding Shares and up to 13.2% of the Shares, on a partially-diluted basis, assuming conversion of all convertible instruments held by Kinross. After the sale, Kinross remains a supportive investor in Asante through our convertible instruments that represent approximately 8.4% of the outstanding Shares on a partially diluted basis. The Shares were sold on a private placement basis, subject to a hold period under applicable Canadian securities laws until December 13, 2025. Kinross sold the Shares in the ordinary course of investments in portfolio companies. Kinross may or may not purchase or sell securities of Asante in the future on the open market or in private transactions, depending on market conditions and other factors. Kinross currently has no other plans or intentions that relate to its investment in Asante. Depending on market conditions, general economic and industry conditions, Asante’s business and financial condition and/or other relevant factors, Kinross may develop other plans or intentions in the future.