Mr. James Currie reports

RIGHTS OFFERING UPDATE

Further to Ascot Resources Ltd.'s news release of Nov. 7, 2025, Ascot Resources Ltd.'s rights offering to raise gross proceeds of up to $14,871,517 described therein is set to expire at 5 p.m. Toronto time on Friday, Dec. 12, 2025, and subscriptions and subscription funds (paid by certified cheque, bank draft or money order) must be received on or before such time by the rights agent, Computershare Investor Services Inc., in order to participate in the rights offering. The procedure and documentation for exercising rights are set out in a rights offering circular dated Nov. 7, 2025, available on the company's SEDAR+ profile, and, for persons outside of the United States, on the company's website and in the rights subscription form, both documents of which were delivered to shareholders of record on Nov. 18, 2025, who are resident in a province or territory of Canada.

Shareholders are reminded that, in addition to the basic subscription privilege (Box 1 of rights subscription form) which entitle shareholders to acquire one additional share for each share they held at the record date, shareholders may also subscribe for additional shares that have not been subscribed for under the additional subscription privilege (Box 2 of rights subscription form) up to the total number of shares offered under the rights offering. If the aggregate number of additional rights shares subscribed for under the additional subscription privilege exceeds the number of available additional rights shares, each holder will receive additional rights shares equal to the lesser of: (1) the number of additional rights shares subscribed for by the holder under the additional subscription privilege; and (2) a pro rata share based on the number of additional rights shares they exercised compared with all other holders who subscribed under the additional subscription privilege.

Your stock broker or dealer agent can assist with these subscriptions.

Shareholders of the company who are not resident in the eligible jurisdictions, including resident of the United States, may not have received a rights subscription form but may be eligible to exercise their subscription privileges if such shareholders are able to establish to the satisfaction of the company that they are eligible to participate in the rights offering on or before 5 p.m. Toronto time on Dec. 5, 2025, or such other date as determined by the company, subject to the laws of the jurisdiction where they are resident. Shareholders who require assistance in completing their subscriptions or who have not received a rights subscription form should contact Tally Barmash at tbarmash@fiorecorporation.com.

About Ascot Resources Ltd.

Ascot is a Canadian mining company headquartered in Vancouver, B.C., and its shares trade on the NEX under the ticker AOT.H and on the OTCID under the ticker AOTVF. Ascot is the 100-per-cent owner of the Premier gold mine, which is located on Nisga'a Nation treaty lands, in the prolific Golden Triangle of northwestern British Columbia.

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