PRESSRELEASE

ASANKOGOLDREITERATES2017PRODUCTIONGUIDANCEAND

Q42016CONFERENCECALLDETAILSVancouver,BritishColumbia,March9,2017–AsankoGoldInc.(“Asanko”orthe“Company”)(TSX,NYSEMKT:AKG)confirmsits2017productionguidanceof230,000–240,000ouncesatAll-insustainingcostsofUS$880 –US$920 per ounce, following a successful first year of operations at theAsankoGoldMine inGhana,WestAfrica. Thesubstantial increase inproductionguidance,abovetheoriginalFeasibilityStudytargetof190,000ouncesperannum, istheresultoftheprocessingplantoperatingat20%abovedesigncapacityandgoldrecoveryratesinexcessof94%,wellabovedesignlevelsof92.5%.2017hashadastrongstarttotheyearwithjustover38,800ouncesofgoldproducedduringJanuaryandFebruary.TheCompanywillhostaconferencecallandwebcastonThursday,March16,2017at9amESTtodiscuss2016Q4andannualfinancialandoperatingresults.Detailsbelow.ConferenceCall&WebcastDetails:Thursday,March16,2017at9:00amESTUS/CanadaTollFree: 18009540585UKTollFree: 08004961447International: +12122312937Webcast:Pleaseclickonthelink:https://cc.callinfo.com/r/1nvq1z5hdrj2a&eomReplayArecordedplaybackwillbeavailableapproximatelytwohoursafterthecalluntilApril16,2017:US/CanadaTollFree: 18005585253International: +14166264100Passcode: #21842305Enquiries:Forfurtherinformationpleasevisit:www.asanko.com,email:info@asanko.comorcontact: AlexBuck-Manager,InvestorandMediaRelationsToll-Free(N.America):1-855-246-7341Telephone:+44-7932-740-452Email:alex.buck@asanko.comWayneDrier-Executive,CorporateDevelopmentTelephone:+1-778-729-0614Email:wayne.drier@asanko.com

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AboutAsankoGoldInc.Asanko’svisionistobecomeamid-tiergoldminingcompanythatmaximizesvalueforallitsstakeholders.TheCompany’sflagshipprojectisthemulti-millionounceAsankoGoldMinelocatedinGhana,WestAfrica.Themineisbeingdevelopedinphases.Phase1wasbuiltwithinbudgetandaheadofschedule,withgoldproductioncommencinginJanuary2016andcommercialproductiondeclaredonApril1,2016.Ramp-uptosteady-stateproductionof190,000ouncesperannumwasachievedinQ22016.Asanko ismanagedbyhighlyskilledandsuccessful technical,operationalandfinancialprofessionals.TheCompany is strongly committed to the highest standards for environmental management, socialresponsibility,andhealthandsafetyforitsemployeesandneighbouringcommunities.Forward-LookingandotherCautionaryInformationThis release includes certain statements thatmay be deemed "forward-looking statements". All statements in thisrelease,other thanstatementsofhistorical facts, thataddressestimated resourcequantities,gradesandcontainedmetals,possiblefuturemining,explorationanddevelopmentactivities,areforward-lookingstatements.Although the Company believes the forward-looking statements are based on reasonable assumptions, suchstatements should not be in any way construed as guarantees of future performance and actual results ordevelopmentsmay differmaterially from those in the forward-looking statements. Factors that could cause actualresultstodiffermateriallyfromthoseinforward-lookingstatementsincludemarketpricesformetals,theconclusionsof detailed feasibility and technical analyses, the timely renewal of key permits, lower than expected grades andquantitiesofresources,miningratesandrecoveryratesandthelackofavailabilityofnecessarycapital,whichmaynotbeavailabletotheCompanyontermsacceptabletoitoratall.TheCompanyissubjecttothespecificrisksinherentinthemining business as well as general economic and business conditions. For more information on the Company,InvestorsshouldreviewtheCompany'sannualForm20-F filingwiththeUnitedStatesSecuritiesCommissionand itshomejurisdictionfilingsthatareavailableatwww.sedar.com.NeitherTorontoStockExchangenortheInvestmentIndustryRegulatoryOrganizationofCanadaacceptsresponsibilityfortheadequacyoraccuracyofthisrelease.