Ascot Resources Ltd.
TSX VENTURE : AOT

Ascot Resources Ltd.

June 09, 2008 12:46 ET

Ascot Commences the 2008 Exploration Program on the Dilworth Property, Stewart, BC

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 9, 2008) - Ascot Resources Ltd. (the "Company") (TSX VENTURE:AOT) is pleased to announce that exploration has commenced on its 100% owned Dilworth Property near the town of Stewart in northern British Columbia.

Aeroquest International has completed an airborne magnetic and electromagnetic survey over the property. The survey objectives are to characterize geophysical responses of known gold-silver mineralized zones and identify exploration targets elsewhere on the property. To assist with interpretation several flight lines were completed over historic mineral deposits and a former gold-silver mine near the Dilworth property.

The company has contracted Mr. Rob Shives of GamX Inc. as geophysical consultant. Mr. Shives, formerly Head of the Radiation Geophysics Section of the Geological Survey of Canada, has over 30 years of experience in application of airborne surveys to the search for porphyry copper-gold and many other deposit types throughout Canada. Analysis and interpretation of the geophysical data will be used to plan the 2008 drilling and surface sampling programs. A key component of Ascot's airborne program will be completion of a detailed gamma ray spectrometric survey in August, when environmental conditions are optimum, to detect and map potassic alteration associated with the mineralization and improve bedrock geological mapping.

Field crews and company geologist Sue Deane have arrived in Stewart to prepare for the 2008 program. The drill has arrived in Stewart and will be mobilized to the property and begin drilling June 9. Prospecting and trenching will initially focus on recently acquired claims that contain gold-silver occurrences some of were last explored in the 1920s. This exciting and prospective acquisition creates, for the first time, an uninterrupted and contiguous block of claims. An aggressive drilling program will continue to explore the known and newly discovered mineralized zones, their extensions and targets identified from interpretation of the airborne geophysical surveys.

The company has also retained the consulting services of Mr. Gerry Ray, P.Geo. to conduct detailed geological mapping of the property. Mr. Ray, formerly with the BC Geological Survey has world-wide experience in mapping and exploration for a variety of mineral deposit types. The mapping program is designed to provide a detailed geological picture of the property, with focus on specific targets.

The content of this news release has been reviewed by Warner Gruenwald, P.Geo. the company's designated Qualified Person (QP) as defined by National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.

Robert A. Evans, Director

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release relative to markets about 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.

Contact Information

  • Ascot Resources Ltd.
    Robert Evans
    Director
    (604) 684-8950
    (604) 684-9877 (FAX)
    Website: www.ascotresources.ca