Initial 2020 Exploration Program At Silver Hill

VANCOUVER - Ascot Resources Ltd reported 2020 exploration program at the Company’s Premier Gold Project (PGP) and the Red Mountain Project (RMP) near Stewart in northwestern British Columbia. The Company has developed and implemented a COVID-19 plan to ensure the safety of employees as well as the community of Stewart where the exploration team is based as opposed to a remote camp operation. The Company is conducting its program utilizing local contractors and temporary employees with a minimum of travel from and to the community.

Ascot commenced exploration drilling at its Premier Gold Project site in early June 2020. Exploration activities this season will consist of prospecting, geophysics and drill testing of a variety of different exploration targets at PGP and RMP. The focus of the program is on four highly prospective exploration areas, Premier West, Silver Hill, Lost Valley and Woodbine. The sequence of the drilling will be determined by the timing of access to snow covered areas at higher elevation. The Company expects to be able to move the drilling activities to Silver Hill and Lost Valley in early July, moving back to lower elevations in the fall. The initial drill meterage for 2020 is expected to be approximately 15,000 meters. The program will be expanded if results warrant additional holes.

The exploration drilling started at the lower elevation western extension of the Premier deposit following up some exciting drill results from 2019. To date, one fan of four drill holes has been completed (1000 meters of drilling) and work on the second fan of drill holes has commenced. The drill holes intercepted quartz breccia with sulfide mineralization. The core has been logged and processed. Assays are pending and will be reported when they become available. In addition, prospecting has commenced at Woodbine to the west of Cascade Creek where gold in soil samples outlines two highly anomalous areas.

At Silver Hill, the Company is targeting the contact between volcanic and sedimentary units that is prospective for volcanogenic massive sulfide mineralization. Showings in the area have yielded very high silver grades that require systematic follow up.

Derek White, President and CEO of Ascot commented, “We have several very promising exploration targets and are very pleased to be able to execute a field program this year. After the extensive infill drill program in 2019, we have shifted our focus towards exploration of new target areas while at the same time progressing the re-start of the Premier Mill.”