Ashanti Gold Engages Duke Capital as Investor Relations

Vancouver, August 29, 2017 - Ashanti Gold Corp. (TSXV: AGZ) ("Ashanti" or the "Company") is pleased to announce that it has engaged Duke Capital ("Duke") for investor relations services. Duke will be responsible for developing the Company's capital market presence, increasing Ashanti's investor audience, and helping management raise financing for Ashanti's corporate growth and operations. In consideration for the services the Company will pay to Duke a monthly fee of $6,000 commencing August 1, 2017. The terms of the agreement with Duke Capital is subject to approval by the TSX Venture Exchange. The Company has been advised that Duke owns 200,000 common shares and 100,000 purchase warrants.

About Duke Capital

Duke Capital is a boutique capital markets advisory firm, focused on high growth, small cap investments. Through our global network of investment professionals and our proprietary digital lead generation platform, Duke is able to create strategic relationships to grow a company's shareholder base and source financing. For more information visit www.dukecapitalinc.com

ABOUT ASHANTI GOLD

Ashanti is a gold-focused, exploration and development company with advanced projects in the northern Ashanti Belt of Ghana and the Kenieba Belt of Mali. The Company targets projects where existing work demonstrates attractive potential for near-term mine development and where it has a competitive advantage due to past work experience of the team and specific project know-how.

On Behalf of the Board of Directors of
Ashanti Gold Corp.

"Tim McCutcheon"

Tim McCutcheon
CEO

For further information, please contact:
Ashanti Gold Corp.
2300 — 1177 West Hastings Street
Vancouver BC, V6E 2K3
Phone: 604-638-3847

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.