An anonymous director reports

ASCENDANT RESOURCES ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Ascendant Resources Inc. has released the voting results of the company's 2023 annual and special shareholders meeting held on Aug. 23, 2023, in Toronto, Ont.

A total of 43,635,681 common shares were voted at the meeting, representing 32.98 per cent of the votes attached to all outstanding common shares of the company. All matters presented for shareholder approval at the meeting were duly authorized and approved as follows:

Number of directors to be elected

On a vote by a show of hands, the resolution to set the number of directors to be elected at the meeting at seven was approved. The favourable votes were cast by proxy as noted herein.

Election of directors

The shareholders elected each of the seven nominees listed in the company's management proxy circular. Details of the voting results are noted herein.

Appointment of auditor

KPMG LLP was appointed auditor of the corporation and the directors of the corporation were authorized to fix the auditor's remuneration. Details of the voting results are as noted herein.

Amended and restated omnibus incentive plan

A ballot was conducted with respect to the amended and restated omnibus incentive plan of the corporation. According to the proxies received and ballots cast by shareholders, the resolution to approve the amended and restated omnibus incentive plan of the corporation was approved.

About Ascendant Resources Inc.

Ascendant Resources is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada volcanogenic massive sulphide project located on the prolific Iberian pyrite belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective stepout targets across the large 7,209-hectare property concession.