Ascendant Copper Corporation

Ascendant Copper Corporation

November 13, 2007 08:18 ET

Ascendant Copper Announces Results of Third Quarter 2007

DENVER, COLORADO--(Marketwire - Nov. 13, 2007) - Ascendant Copper Corporation ("Ascendant") or ("the Company") (TSX:ACX)(TSX:ACX.WT)(TSX:ACX.WT.A)(BERLIN:A0HMLE)(FRANKFURT:A5C) today announced the filing of its unaudited consolidated third quarter 2007 financial results (expressed in US$). As at September 30, 2007, the Company had cash and cash equivalents of $9.1 million. The Company incurred a net loss of $2.5 million and $2.0 million for the three months ended June 30, 2007 and 2006, respectively. The primary reason for the increased net losses for the 2007 periods compared to the 2006 periods was due to higher expenditures on exploration drilling, particularly on the Chaucha property.

"With our strong balance sheet and high metals prices, this is an opportune time for Ascendant to sustain the momentum of its recently announced agreement to acquire St. Genevieve Resources Ltd. (CNQ:SGVL) by continuing to evaluate properties of merit throughout the Americas," said Gary Davis, President & CEO of Ascendant. "We expect that SGVL's portfolio of U.S. copper exploration and development properties, some of which we expect to go into production in the near term, will create cash flow to support the continued advancement of our world-class copper/molybdenum properties in Ecuador."

Unaudited interim consolidated financial statements and management's discussion and analysis for the period ended September 30, 2007, are now available for viewing on SEDAR at

Ascendant Copper Corporation is a mineral exploration and development company that is focused on becoming a mid-tier copper and molybdenum producer. The Company is responsibly advancing its copper-molybdenum projects in Ecuador toward verifiable economic base metal discoveries. Ascendant is also evaluating near term production scenarios for the U.S. copper properties that it is proposing to acquire from St. Genevieve Resources Ltd.

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