Asanko Gold Increases Akwasiso Resources by 79% and Reserves by 62%

Table 1: Updated Akwasiso Mineral Resource Estimate

Table 2: Updated Akwasiso Mineral Reserve Estimate

The Akwasiso deposit shows similar geological characteristics to Nkran, with at least three mineralized structures within a sandstone-siltstone sequence and an intrusive granite which hosts shallow dipping quartz veining. The infill drilling program totaled 5,147 metres of combined reverse circulation and diamond core drilling which has enabled further refinement of the geological model for the deposit. The program also provided orientated core to assist structural and grade distribution trend measurements. As a consequence, the MRE methodology previously adopted for Akwasiso in December 2016 has been refined. The grade shells in the previous estimate were derived from an Indicated Kriging ("IK") and Ordinary Kriging ("OK") approach. In the April 2017 MRE, the grade shells have now been redefined by physical wireframing of the grade shells to constrain volume (and tonnage), followed by an OK grade estimation within a given grade shell.

Qualified Persons Statements

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 the Mineral Resource contents of this news release. The April 2017 MRE for Akwasiso was prepared by Kathleen Hansmann (Pr. Sci. Nat.) Asanko Mineral Resource Manager. The MRE has been overseen and signed off by Malcolm Titley, Principal Consultant, CSA Global (UK) Ltd. The MRE is 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. 

The Mineral Reserve Statement was prepared by Frederik Fourie, Asanko Senior Mining Engineer (Pr.Eng.) who is the Asanko Qualified Person under NI 43-101 who assumes responsibility for the Mineral Reserve contents of this news release. 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. 

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About Asanko Gold Inc.

Asanko's vision is to become a mid-tier gold mining company that maximizes value for all its stakeholders. The Company's flagship project is the multi-million ounce Asanko Gold Mine located in Ghana, West Africa. The mine is being developed in phases. Phase 1 commenced gold production in January 2016 and declared commercial production on April 1, 2016. Ramp-up to steady state production was achieved in Q2 2016.

Asanko is managed by highly skilled and successful technical, operational and financial professionals. The Company is strongly committed to the highest standards for environmental management, social responsibility, and health and safety for its employees and neighbouring communities.

Forward-Looking and other Cautionary Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address estimated resource quantities, grades and contained metals, possible future mining, exploration and development activities, are forward-looking statements. Although the Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.

Neither Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note to US Investors Regarding Mineral Reporting Standards:

Asanko has prepared its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of US securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Asanko uses certain terms, such as, "measured mineral resources", "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the public filings of Asanko which have been filed with securities commissions or similar authorities in Canada).