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VANCOUVER, British Columbia, Aug 19, 2020 (GLOBE NEWSWIRE via COMTEX) — VANCOUVER, British Columbia, Aug. 19, 2020 (GLOBE NEWSWIRE) — Ascot Assets Ltd(TSX: AOT; OTCQX: AOTVF) (“Ascot” or the “Company”) is admiring to advertise amazing high-grade gold intercepts from the added accumulation of ten assignment holes (for a absolute of 2,820 metres) from Premier West at the Company’s Premier Project (the “Project”). The after-effects from these assignment holes add to the able after-effects appear in the account absolution of July 29, 2020. The absorbing gold grades are abutting to the proposed mining areas categorical in the achievability abstraction abacus cogent amount to the Project.

Highlights of this absolution include:

In aboriginal June, the Aggregation started exploring the breadth west of the absolute Premier drop and appear antecedent after-effects on July 29, 2020. The after-effects in this absolution authenticate the acknowledged analytic archetype of high-grade mineralization alike added to the west. Cogent bang breadth is yet to be explored (see Figure 1). Added conduct has been conducted with appraisal after-effects pending.

Derek White, President and CEO of Ascot commented, “Drilling at Premier West has afresh apparent absolute high-grade gold mineralization to the northwest of the 609 and 602 adeptness zones at Premier. These absorbing after-effects are advantageous our charge to affiliated appraisal on this property. Despite difficult acclimate altitude we acquire two rigs operating on our beneath accessible, college acclivity targets at Argent Hill and the Day Zone. Assignment amount logs from these targets appearance about-face and sulfide mineralogy frequently associated with adored metal mineralization in the breadth with assays pending. Congratulations to the Ascot appraisal aggregation for continuing acknowledged appraisal efforts and growing the Company’s assets to the west of Premier. At the aforementioned time, we are authoritative abundant advance on advancing the Project appear production.”

Drill Results

The aim of the appraisal affairs to the west of Premier is to actuate the affiliation amid the assorted occurrences such as the Hope Zone, the Power Breadth and the Woodbine anticipation added west (see Figure 1). This absolution summarizes the after-effects from two fences of assignment holes completed from assignment pad PW-1 and two alone holes from antecedent fences. Two added fences of assignment holes acquire been completed from assignment pad PW-1 with assays pending. Another assignment pad (PW-2) has been accustomed for testing the adopted 400 metres of bang breadth to the Power Zone. The conduct from this pad will be conducted after in the division back conduct at the college acclivity targets has been completed.

Figure 2 shows that the mineralized breadth is not as steeply dipping as the ahead modeled anatomy that was based on absolute few assignment holes. The absolute dip of the breadth may be flattening out appear the Hope zone. The basic acclimatization of mineralization at the Power Breadth is sub-horizontal with a affable westerly dip. Added circling of the affable flattening trend of the dip adumbrated in these latest assignment after-effects may explain how these zones are eventually connected. The absolute 400m of bang breadth appear the Power Breadth may yet add cogent assets in this area.

The assignment after-effects are abbreviated in Table 1 and the pad breadth is authentic in Table 2.

Figure 1 Image of the Premier abundance breadth assuming the breadth of the assignment pads and assorted zones discussed in this release. The white arrow basic from PW-1 shows the acclimatization of the westernmost fence of assignment holes appear to date free the accepted bend of the addendum of mineralization from the 609 adeptness zone.


Table 1 Summary of appraisal assignment after-effects from Premier West

True amplitude is estimated to be 70-90% of appear intervals. The assignment holes were targeted erect to the accepted breadth orientation.

Table 2 Assignment pad location

Figure 2 Image of a arctic attractive 3D area assuming the blueprint of the assignment holes appear in this and the antecedent absolution about to the northeast dipping modelled breadth that is actuality targeted. The assignment intercepts beneath the modelled breadth advance that the absolute dip of the mineralized breadth is flattening as it is traced to the northwest. Mineralization is accessible in that direction.


Qualified Person

Lawrence Tsang, P. Geo., the Company’s Senior Geologist provides the acreage administration for the Premier appraisal program. John Kiernan, P. Eng., Chief Operating Officer of the Aggregation is the Company’s Qualified Person (QP) as authentic by National Instrument 43-101 and has advised and accustomed the abstruse capacity of this account release.

Quality Assurance/Quality Control

Analytical assignment is actuality agitated out by ALS Canada Ltd. (“ALS”). Ascot’s quality-assurance and quality-control affairs includes the use of analytic blanks to adviser for cantankerous contamination, certified advertence absolute standards to appraise analytic accuracy, and alike samples to quantify sampling precision. This is in accession to the centralized affection affirmation affairs active by SGS.

Samples are broiled and advised by SGS. They are again ashamed to 75% casual 2mm, with 250g breach and burst to 85% casual 75um. Samples are candy at the ALS alertness lab in Terrace and beatific to ALS in Arctic Vancouver for analysis. There, all samples are digested application aqua-regia with an ICP-AES accomplishment and blaze appraisal with AA accomplishment for gold. Samples over 100ppm argent are digested with aqua regia and again volumetrically adulterated afore an ICP-AES or AA accomplishment (up to 1,500ppm). Samples over 1,500ppm argent are blaze assayed with a gravimetric finish. Samples over 10ppm gold are blaze assayed with a gravimetric finish. Articular or doubtable brownish gold or argent are subjected to “metallics” assays. Sampling and accumulator are at the Company’s defended adeptness in Stewart.

For added advice about the Company, amuse accredit to the Company’s contour on SEDAR at www.sedar.com or appointment the Company’s web armpit at www.ascotgold.com, or for a basic bout appointment www.vrify.com beneath Ascot Resources.


“Derek C. White”, President and CEO

For added advice contact:Kristina HoweVP, Investor Relations778-725-1060 / [email protected]

About Ascot Assets Ltd.

Ascot is a Canadian-based appraisal and development aggregation focused on re-starting the accomplished bearing celebrated Premier gold mine, amid in British Columbia’s Golden Triangle. The Aggregation continues to ascertain high-grade assets for underground mining with the near-term ambition of converting the underground assets into reserves, while continuing to analyze adjacent targets on its Premier/Dilworth and Argent Coin backdrop (collectively referred to as the Premier Gold Project). Ascot’s accretion of IDM Mining added the high-grade gold and argent Red Mountain Project to its portfolio and positions the Aggregation as a arch consolidator of high-quality assets in the Golden Triangle.

For added advice about the Company, amuse accredit to the Company’s contour on SEDAR at www.sedar.com or appointment the Company’s web armpit at www.ascotgold.com, or for a basic bout appointment www.vrify.com beneath Ascot Resources.

The TSX has not advised and does not acquire albatross for the capability or accurateness of this release.

Cautionary Statement Regarding Forward-Looking Information

All statements, trend appraisal and added advice independent in this columnist absolution about advancing approaching contest or after-effects aggregate advanced statements. Advanced statements are often, but not always, articular by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an accident or aftereffect “may”, “will”, “should”, “could” or “might” action or be accomplished and added agnate expressions. All statements, added than statements of absolute fact, included herein are advanced statements, including statements in account of the closing of the Private Placement and the use of proceeds. Although Ascot believes that the expectations reflected in such advanced statements and/or advice are reasonable, disproportionate affirmation should not be placed on advanced statements back the Ascot can accord no affirmation that such expectations will prove to be correct. These statements absorb accepted and alien risks, uncertainties and added factors that may account absolute after-effects or contest to alter materially from those advancing in such advanced statements, including the risks, uncertainties and added factors articular in the Ascot’s alternate filings with Canadian balance regulators, and assumptions fabricated with attention to: the estimated costs associated with architecture of the Project; the timing of the advancing alpha of assembly at the Projects; the adeptness to advance throughput and assembly levels at the Premier Mill; the tax amount applicative to the Company; approaching article prices; the brand of Assets and Reserves; the adeptness of the Aggregation to catechumen accepted assets to added categories; the adeptness of the Aggregation to abate mining dilution; the adeptness to abate basic costs. Advanced statements are accountable to business and bread-and-butter risks and uncertainties and added factors that could account absolute after-effects of operations to alter materially from those independent in the advanced statements. Important factors that could account absolute after-effects to alter materially from Ascot’s expectations accommodate risks associated with the business of Ascot; risks accompanying to appraisal and abeyant development of Ascot’s projects; business and bread-and-butter altitude in the mining industry generally; fluctuations in article prices and bill barter rates; uncertainties apropos to estimation of assignment after-effects and the geology, chain and brand of mineral deposits; the charge for cooperation of government agencies and aboriginal groups in the appraisal and development of backdrop and the arising of appropriate permits; the charge to access added costs to advance backdrop and ambiguity as to the availability and agreement of approaching financing; the achievability of adjournment in appraisal or development programs and ambiguity of affair advancing affairs milestones; ambiguity as to appropriate availability of permits and added authoritative approvals; risks associated with COVID-19 including adverse impacts on the apple economy, architecture timing and the availability of personnel; and added accident factors as abundant from time to time and added risks articular in Ascot’s filings with Canadian balance regulators on SEDAR in Canada (available at www.sedar.com). The timing of approaching bread-and-butter studies; labour disputes and added risks of the mining industry; delays in accepting authoritative approvals, costs or in the achievement of Project as able-bodied as those factors discussed in the Annual Advice Form of the Aggregation anachronous March 13, 2020 in the area advantaged “Risk Factors”, beneath Ascot’s SEDAR contour at www.sedar.com. Advanced statements are based on estimates and opinions of administration at the date the statements are made. Ascot does not undertake any obligation to amend advanced statements.


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