Mr. Derek White reports

ASCOT POURS FIRST GOLD DURING COMMISSIONING AT THE PREMIER GOLD PROJECT

On April 20, 2024, Ascot Resources Ltd. 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 chief executive officer, 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 work force, our diligent contractors, our supportive shareholders and financiers, Nisga'a Nation, government officials, and the local communities of Stewart, B.C., 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 continuing, with commercial production anticipated in the third quarter of 2024. The first gold pour was achieved from gold recovered through the gravity circuit. Commissioning of the carbon-in-leach circuit is currently under way. Ascot will provide a more comprehensive update on the commissioning progress in due course.

Qualified person

John Kiernan, PEng, chief operating officer of the company, is the company's qualified person (QP) 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-per-cent-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 toward 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 under the ticker AOT and on the OTCQX under the ticker AOTVF. 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, B.C., and Hyder, Alaska.

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