Ascot Mining plc

April 16, 2008 13:36 ET

Ascot Mining PLC Begins Trading on PLUS Market

LONDON, UNITED KINGDOM--(Marketwire - April 16, 2008) - Ascot Mining PLC ("the Company") (PLUS:ASMP), today announces the commencement of trading on the PLUS Market in London. The Company specialises in acquiring properties, which are known to host gold resources, and has already begun production by upgrading its existing interests and aggregating additional concessions.

ASCOT MINING PLC through its wholly owned subsidiaries, Veritas Mining CR SA and Veritas Gold CR SA, is implementing a strategy of acquiring and rehabilitating multiple gold mining concessions in Costa Rica. Through additional targeted acquisitions in the immediate area the Company's objective is to achieve production of 100,000 oz/year. Once established the Company intends to expand its portfolio beyond Costa Rica.

The Company considers itself to be in a strong position to meet its projections. Of the two fully permitted mills in Costa Rica, Ascot is building one (100% owned) and has a 50% interest in the other. Average production costs are under US$200 per oz.

Mining is underway at the Company's properties near Las Juntas. Additionally, final permits for the Chassoul Mine, near San Ramon, have been granted, development work is progressing and this production is planned to be online by July 2008.

David Jackson, Ascot Mining's CEO, says: "We are proud of meeting our objective of being admitted to PLUS. Ascot is permitted and producing gold, rather than only exploring. This gives us a strong base from which to grow through both production and exploration. Our purpose in coming to London was to become a prominent constituent company of the PLUS Markets and today's achievement marks the completion of another stage in the Company's development towards that objective."

Notes to Editors: Ascot Mining (a UK Company) is a producing gold mining company incorporated in November 2006 with operations in Costa Rica in Central America. Through its wholly owned subsidiaries, Veritas Mining and Veritas Gold, it acquires and rehabilitates multiple high-grade narrow vein gold mining concessions. Gold mining is already in production and the Company's objective is to achieve production of 100,000 ounces of gold a year within five years.

The Company is committed to the Equator Principles, the internationally recognized standard for human and environmental rights originally promulgated by Greenpeace.


Statements in this notice may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfill such forward-looking statements and the Company undertakes no obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

The Directors of the Company accept responsibility for the content of this announcement.

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