Asanko Gold Awards Key Mining Contract

Vancouver,  British  Columbia,  November  12,  2014  –  Asanko  Gold  Inc.  (“Asanko”  or  the  “Company”)  (TSX,   NYSE   MKT:   AKG)   is   pleased   to   announce   it   has   awarded   the   mining   contract   for   the   fully   funded   and permitted   Phase   1   of   the   Asanko   Gold   Mine   (“AGM”   or   the   “Project”)   in   Ghana.     Project   construction commenced  in  August  and  has  been  advancing  rapidly  with  the  Project  on  schedule  and  budget.    Phase  1  is expected  to  produce  200,000  ounces  of  gold  per  annum  at  steady  state  commencing  in  Q2  2016,  with  the first  gold  pour  planned  during  Q1  2016.

The  main  mineral  resource  for  Phase  1  is  the  Nkran  pit,  located  immediately  adjacent  to  the  new  plant  site currently  under  construction.    The  pit  was  previously  mined  to  a  depth  of  approximately  120  meters  and requires  21.7  million  tonnes  of  waste  to  be  pre-­‐stripped  prior  to  commencing  ore  mining  operations  in  Q4 2015.

The  Company  completed  a  rigorous  tendering  process  to  select  the  mining  contractor  and  has  awarded  the contract   for   the   Nkran   pre-­‐strip   plus   the   first   year   of   mining   operations   to   PW   Ghana   Ltd   (“PW”),   a subsidiary  of  PW  Mining  International  Ltd  of  Accra,  Ghana.  PW  has  extensive  experience  in  West  Africa  and a  full  fleet  of  equipment  in  excellent  condition  that  can  be  immediately  deployed  to  the  Project  site.    Pre-­‐ stripping  is  expected  to  commence  in  January  2015.  Mobilization,  clearing  and  grubbing  will  take  place  in November  and  December  2014.

The  process  of  finding  a  mining  contractor  began  in  May  of  this  year  when  the  Company  invited  19  mining contract  companies  to  tender.    From  these  initial  submissions,  it  was  determined  that  a  short  list  of  seven companies   had   the   capability   to   meet   the   Project   timelines   and   quantities.     In   July,   these   short   listed companies  were  invited  to  provide  a  more  detailed  tender.    Four  of  the  tenders  submitted  were  selected for  detailed  technical  and  commercial  review.

An  independent  quantity  survey  company  was  engaged  to  provide  the  commercial  adjudication  and  a  panel of   Asanko’s   Ghanaian   mining   team   was   formed   to   conduct   technical   adjudications.     In   the   adjudication process  the  bids  were  evaluated  based  on  the  contractor’s  observed  expertise  and  performance  in  safety, training,   equipment   availability,   maintenance   and   operating   excellence.   In   addition   the   Company   gave significant  weighting  to  local  ownership  of  the  tendering  companies,  in  accordance  with  the  African  Union Mining  Vision’s  mandate.

Phase  1  Definitive  Project  Plan

The  basis  of  the  mining  contract  is  the  Phase  1  optimized  mine  plan  which  has  been  finalized.    An  updated reserve  statement  with  associated  operating  costs  and  revised  project  economics  has  been  compiled  into  a “Definitive  Project  Plan”  and  will  be  announced  tomorrow,  November  13  2014.    Asanko  management  will host  a  webcast  and  conference  call  at  9:00am  Eastern  Standard  Time  on  the  same  day.    An  accompanying presentation  will  be  available  on  the  Company’s  website:  www.asanko.com

To  access  the  conference  call,  please  dial-­‐in  10  minutes  beforehand  and  quote  “Asanko  Gold”:

US  &  Canada  Toll  Free:  800  771  6916 UK  Toll  Free: 0800  528  0641 International:  +1  415  226  5356

A  replay  facility  will  be  available  two  hours  after  the  call  until  December  12,  2014,  please  dial  using  the access  code:  #21741159 US  &  Canada  Toll  Free:  800  558  5253 International:  +1  416  626  4100

Webcast  Details

To  access  the  webcast,  please  click  on  the  link:  https://cc.callinfo.com/r/1ou0qi8zv6yj7&eom

Enquiries:  

For  further  information  please  visit:  www.asanko.com,  email:  [email protected]  or  contact:

Alex  Buck,  Manager  –  Investor  Relations   Greg  McCunn,  Chief  Financial  Officer Toll-­‐Free  (N.America):  1-­‐855-­‐246-­‐7341   Telephone:  +1-­‐778-­‐729-­‐0604 Telephone:  +44-­‐7932-­‐740-­‐452   Email:  [email protected] Email:  [email protected]

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  fully  financed  and  permitted,  multi-­‐million  ounce  Asanko  Gold  Mine located  in  Ghana,  West  Africa.    The  mine  is  being  developed  in  phases.  Phase  1  is  under  construction,  first gold  is  expected  in  Q1  2016  and  steady  state  production  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.

About  PW  Mining  International

PW  execute  projects  for  major  clients  in  the  gold  mining  and  oil  &  gas  sectors.  The  mining  division  has worked  for  many  of  the  top  companies  in  the  gold  mining  industry.    Much  of  their  work  has  been  secured on  a  repeat  business  basis  over  many  years,  testifying  to  the  solid  reputation  they  have  built  with  their clients.    PW  have  been  responsible  for  complex  and  challenging  projects,  which  have  all  been  effectively completed  using  a  wide  range  of  multi-­‐disciplinary  skills.    PW  employ  over  1,500  personnel  and  presently operate  in  Ghana,  Sierra  Leone,  Mali  and  Burkina  Faso.

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,  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  20-­‐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.