Ascot Resources Ltd.

Ascot Resources Ltd.

March 26, 2008 18:06 ET

Ascot Announces Contracts for Shiploader

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2008) - Ascot Resources Ltd. (TSX VENTURE:AOT) is pleased to announce the signing of contracts for the construction of the full-scale ship loading facility for its 100% owned Swamp Point Aggregate Mine. The Mine, located on tidewater in northwestern British Columbia, is being developed to provide high-quality aggregates to California and other Pacific coastal markets. A camp, access roads and sediment control structures were built in 2007. Completion of the ship loading facility will allow full-scale aggregate production, including the loading of vessels up to Panamax size (70,000 dwt).

Fabrication and delivery of two ship-loaders was awarded to Telestack International Limited of Northern Ireland, UK. Two independent 2,000 tonne per hour 'Low-Tail' Telestack ship-loaders are designed to provide an average loading rate of 4,000 tonnes per hour, and individually can be driven for short periods up to 2,500 tonnes per hour if a higher productivity is required. The two units, which allow for 100% operating redundancy, will be mounted on a dual elevated rail system providing full longitudinal travel along the hatch length of the ship thus eliminating any need to move the vessel during loading. The two units, designed to operate year round, were chosen based on their simplicity, reliability and cost.

Broadwater Industries Ltd. of Prince Rupert has been chosen to be general contractor for the construction of the marine facilities including steel substructures and the erection of the Telestack loaders. Subcontractors Fraser River Pile & Dredge Ltd. and Pacific Blasting Ltd., both of Vancouver, B.C., have been retained for construction related to pile installation and earthworks. Structural design engineering and construction supervision is being provided by Sandwell Engineering Inc., of Vancouver, B.C.

The entire ship loading facility has been designed to be a cost-effective and low environmental impact alternative to traditional ship loading designs. It is anticipated that the ship-loaders will be delivered to the Port of Prince Rupert by year end where they will be assembled and delivered to the Swamp Point site for commissioning in the first quarter of 2009.

Ascot expects to be in a position to begin deliveries to export and local markets in the 1st quarter of 2009.


John A. Toffan, President &, Director

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release regarding anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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