Ascot Resources Ltd.

Ascot Resources Ltd.

September 10, 2012 12:56 ET

Ascot Drills 8.00 Metres of 22.68 Grams Per Ton Gold and 96.4 Grams Per Ton Silver at Premier

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2012) - Ascot Resources Ltd. (TSX VENTURE:AOT) current drilling at Premier is focused on the Martha Ellen zone. Near surface mineralization is being encountered consistently in gently west and east dipping zones associated with Premier Porphyry dykes and a stockwork along the eastern portion of the zone. This area is believed to be the northwest fault offset extension of the Big Missouri zone. The area was previously tested by Westmin with 144 historic diamond drill holes. Current drilling is being done at a density that will allow for the calculation of an initial resource of this near surface target.

Highlights include:

Hole # Comment From
PR-12-322 18.00 145.39 127.39 0.86 20.5 Martha Ellen
incl. 107.00 145.39 38.39 1.80 37.6
incl. 138.00 145.39 7.39 5.97 4.7
PR-12-324 5.00 86.00 81.00 0.55 7.1 Martha Ellen
incl. 30.90 43.50 12.60 1.94 21.2
incl. 38.00 43.50 5.50 3.88 31.3
PR-12-328 3.05 86.00 82.95 0.98 3.2 Martha Ellen
incl. 19.00 32.72 13.72 3.37 5.1
PR-12-332 43.22 75.00 31.78 0.96 9.9 Martha Ellen
incl. 55.00 67.00 12.00 2.12 19.1
PR-12-342 2.13 140.00 137.87 0.75 23.7 Martha Ellen
incl. 2.13 61.70 59.57 1.26 48.6
incl. 55.07 61.70 6.63 5.19 179.2
PR-12-355 4.00 93.00 89.00 2.53 14.7 Martha Ellen
incl. 28.00 36.00 8.00 22.68 96.4
incl. 30.67 32.84 2.17 76.09 303.4
PR-12-356 107.85 133.96 26.11 0.93 4.9 Martha Ellen
incl. 107.85 109.50 1.65 11.00 23.3
PR-12-357 8.00 45.66 37.66 0.86 20.8 Martha Ellen
19.00 24.69 5.69 2.87 37.9
PR-12-363 2.13 22.37 20.24 1.57 4.9 Martha Ellen
also 4.00 9.00 5.00 3.32 5.6
PR-12-365 5.50 75.45 69.95 0.58 3.8 Martha Ellen
incl. 5.50 17.00 11.50 1.50 11.2
PR-12-366 0.00 138.68 138.68 0.44 3.1 Martha Ellen
incl. 0.00 33.00 33.00 1.17 8.0
also 1.50 13.00 11.50 2.85 19.6
PR-12-368 0.00 69.13 69.13 0.75 4.8 Martha Ellen
incl. 0.00 30.00 30.00 1.27 8.5
incl. 0.00 10.00 10.00 2.95 18.90
N.B. values are uncut.

To date, in 2012, Ascot has completed 110 drill holes for a total of 23,735 metres. The initial 55 holes were reported in a release dated August 1, 2012, this release covers the next 47 holes. Wide zones of gold and silver mineralization continue to be encountered in many of the areas demonstrating bulk tonnage potential in a generally flat sheet like orientation with higher gold and silver grades in zones within broad gold envelopes. Estimated true widths are generally 10-20% less than reported drill widths, as holes fan across gently dipping sheets. Detailed results table, locations, azimuths and dips and figures can be viewed at the following Ascot link:

In 2012, the region historically known as the Big Missouri area is being drill tested in the northwestern portion covering portions of the historic Northstar, Province/Big Missouri and Day zones and will be drilled at sufficient density to provide an updated 43-101 resource in this large target area (approximate 50 meter centres). The surface extent of showings and alteration in this area covers a surface area of approximately 3.0 square kilometres.

Graeme Evans, P. Geo and Leif Bjornson, P.Geo are providing the field management for the Premier exploration program. Graeme Evans, designated as the Qualified Person (QP) as defined by National Instrument 43-101 has prepared the technical information in this news release.

Quality Assurance/Quality Control

Analytical work is being carried out by SGS Canada Inc. in Vancouver, BC. and ALS Lab Group. Quality assurance and quality control programs include the use of analytical blanks and standards and duplicates in addition to the labs own internal quality assurance program. Samples containing greater than 10 g/t silver, 10 g/t gold and greater than 10,000 ppm (1%) lead and zinc are routinely re-assayed. Identified or suspected metallic gold or silver are subjected to "metallics" assays. Sampling and storage are at the company's secure facility in Stewart with bi-weekly sample shipments made to SGS or ALS Labs.

On Behalf of the Board of Directors


John A. Toffan, President and 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. All statements, other than statements of historical fact, included herein, including, without limitation; the completion of the Offering on the terms set forth herein, the anticipated closing date of the Offering and the use of proceeds from the Offering are forward looking statements. 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. Important factors that could cause actual results to differ materially from the Company's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. 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 except as required by applicable securities laws. 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 press release.

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