New High-Grade Copper, Gold, and Silver Mineralization At Premier Project

VANCOUVER - Ascot Resources Ltd. reported the discovery of new high-grade copper, gold, and silver mineralization at the Premier Gold Project (PGP). These are the first drill results from this year’s 25,000m exploration program, which is aimed at testing new, high-priority targets as well as following up on last year’s drilling successes. Initial drilling has intercepted a shallow zone of gold-silver mineralization and a deeper zone of high-grade copper-silver mineralization.

Highlights from the drill results include: 6.57 g/t Au and 14.3 g/t Ag (6.78 g/t AuEq) over 1.20m in hole P21-2304; 0.81 g/t Au and 407.0 g/t Ag (6.74 g/t AuEq) over 1.25m in hole P21-2302; 0.70 g/t Au and 373.0 g/t Ag (6.13 g/t AuEq) over 2.00m in hole P21-2303, including 0.90 g/t Au and 596.0 g/t Ag (9.58 g/t AuEq) over 1.00m; 0.10 g/t Au and 311.0 g/t Ag (4.63 g/t AuEq) over 1.00m in hole P21-2306; 0.17 g/t Au, 137.8 g/t Ag, 3.62% Cu, 0.65% Zn (8.43 g/t AuEq or 5.16% CuEq) over 4.00m in hole P21-2305, including 0.26 g/t Au, 191.0 g/t Ag, 5.78% Cu, 1.30% Zn (13.14 g/t AuEq or 8.05% CuEq) over 1.75m; and 0.16 g/t Au, 137.0 g/t Ag, 1.98% Cu, 0.22% Zn (5.49 g/t AuEq or 3.36% CuEq) over 1.45m in hole P21-2306.

Derek White, President and CEO, said, “We are excited about these new exploration discoveries at PGP. We are particularly encouraged that our geophysical targeting methods are proving successful in identifying new mineralized zones. While base metals including copper and zinc have not been the focus for Ascot, we are intrigued to have drilled new high-grade sulfide mineralization at depth and welcome the optionality of further similar discoveries. Production at the Premier mine dates back as far as 1918 and gold and silver were historically produced alongside copper and other base metals, so the discovery thereof is not altogether surprising. We are eager to proceed with follow-up drilling this year to test the extents and continuity of this mineralization, among other high-priority targets.”