Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF) is pleased to announce that on April 20, 2024 the Company poured first gold as a part of the commissioning process at the Premier Gold Project, located on Nisga’a Nation Treaty Lands in the Golden Triangle of northwestern British Columbia.

Derek White, President and CEO, commented, “The first gold pour is a hallmark commissioning milestone for Ascot, representing the culmination of years of hard work. We express our gratitude to our dedicated workforce, our diligent contractors, our supportive shareholders and financiers, Nisga’a Nation, government officials, and the local communities of Stewart, BC and Hyder, Alaska – all of whom played important roles in seeing this first gold pour come to fruition.”

Commissioning of the process plant at PGP is ongoing, with commercial production anticipated in Q3 of 2024. The first gold pour was achieved from gold recovered through the gravity circuit. Commissioning of the carbon-in-leach circuit is currently underway. Ascot will provide a more comprehensive update on the commissioning progress in due course.

Figure 1 – First gold pour during commissioning at PGP

Qualified Person

John Kiernan, P.Eng., Chief Operating Officer of the Company is the Company’s Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical contents of this news release.

About Ascot Resources Ltd.

Ascot is a Canadian mining company focused on commissioning its 100%-owned Premier Gold Mine, which poured first gold in April 2024 and is located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia. Concurrent with commissioning Premier towards commercial production anticipated in Q3 of 2024, the Company continues to explore its properties for additional high-grade gold mineralization. Ascot’s corporate office is in Vancouver, and its shares trade on the TSX and on the OTCQX. Ascot is committed to the safe and responsible operation of the Premier Gold Mine in collaboration with Nisga’a Nation and the local communities of Stewart, BC and Hyder, Alaska.