According to the National Disaster Management Organisation (NADMO), the three men died instantly.
Joseph Appiah Kusi, Operations Director for NADMO in the district said the collapsed pit was an abandoned one and three men have gone to mine in there.
The deceased include Kwabena Darko, aka Papa Kumasi, 25; Kwadwo Asiamah, 28, both natives of the town and Ayomah Agbon, 22, who came to the town four days ago from Zebilla in the Upper East Region.
Joseph Appiah Kusi also said two others who sustained serious injuries have been admitted at the Agroyesum Government Hospital for treatment.