Ascot Resources Ltd.
TSX VENTURE : AOT

Ascot Resources Ltd.

August 11, 2015 13:28 ET

Ascot Resources Intersects 582.00 g/t Gold Over 1.00 Meter at Premier

SURREY, BRITISH COLUMBIA--(Marketwired - Aug. 11, 2015) - Ascot Resources Ltd. (TSX VENTURE:AOT) -

The Premier property covers more than one hundred square kilometres near the town of Stewart in northwest BC, and includes the old Premier Mine, a past producer of 2.1 MOz Au and 44.9 MOz Ag.

Highlights of Release:

  • Hole P15-823 intersected visible gold in a quartz breccia zone including a 1.00 meter interval which graded 582.00 g/t gold. Ascot has now had a number of visible gold hits in this area and has decided to increase its exploration budget by $500,000 and add a second drill to test the extent of this high grade portion of the main zone, now known as the obscene subzone.

  • The Company has completed the first seven holes of its 28 hole program to determine the bulk sample potential of a high grade portion of the west zone, now known as the lunchroom subzone. (See News Release dated July 27, 2015). Results from this drilling are pending. The obscene subzone is located approximately 400 meters northeast of the lunchroom subzone.

New highlights include:

From To Width Au Au
Cut*
Ag
Hole # Zone m's m's m's (g/t) (g/t) (g/t) Zn %
P15-818 Obscene Subzone 228.82 282.85 54.03 1.32 1.32 8.5 0.38
incl. 249.00 278.00 29.00 2.30 2.30 9.8 0.68
incl. 259.00 272.00 13.00 3.84 3.84 8.5 0.64
incl. 261.00 264.45 3.45 8.31 8.31 15.8 1.39
incl. 263.00 264.45 1.45 15.20 15.20 22.4 0.15
P15-819 Obscene Subzone 244.13 299.00 47.87 1.92 1.92 10.4 0.89
incl. 252.00 276.50 24.50 3.45 3.45 17.5 1.86
incl. 252.00 257.37 5.37 9.09 9.09 22.4 1.50
incl. 255.00 256.00 1.00 29.40 29.40 43.8 1.59
incl. 276.00 276.50 0.50 24.80 24.80 18.5 0.06
P15-820 Obscene Subzone 257.56 292.00 34.44 1.55 1.55 10.0 0.60
incl. 262.00 282.00 20.00 2.15 2.15 10.3 0.50
incl. 268.39 270.73 1.84 6.63 6.63 28.9 1.53
P15-822 Obscene Subzone 230.21 279.20 48.99 1.60 1.60 16.2 1.02
incl. 249.00 274.96 25.96 2.62 2.62 27.2 1.87
incl. 265.00 274.27 9.27 4.94 4.94 12.6 0.56
incl. 270.00 271.50 1.50 20.70 20.70 22.1 0.60
P15-823 Obscene Subzone 247.00 294.74 47.74 13.85 2.35* 19.5 0.81
incl. 252.65 278.00 25.35 25.43 3.82* 33.0 1.26
incl. 273.42 278.00 4.58 132.30 12.71* 85.4 1.47
incl. 277.00 278.00 1.00 582.00 34.29* 224.0 0.20
P15-829 Main Zone 300.00 321.87 21.87 2.31 2.31 7.0 0.34
incl. 303.00 313.00 10.00 4.85 4.85 7.9 0.47
incl. 304.88 307.20 2.32 17.06 17.06 8.7 0.51
incl. 306.00 307.20 1.20 23.00 23.00 8.0 0.36
True widths are generally believed to be 70-90% of intersected widths in the Premier area.
(*) samples cut to 1opt or 34.29 g/t Au.

This release covers results for a third set of 12 holes P15-818 to P15-829. The first sets of 62 holes were released on July 27th and June 24th 2015. Drilling continues with two diamond drill rigs, results will be released as they become available. Ascot to date has drilled 21,832 meters in 95 holes in 2015 with drilling ongoing. Detailed results table, locations and figures can be viewed at the following Ascot link: www.ascotresources.ca

Graeme Evans, P. Geo and Lawrence Tsang, 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 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. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,500 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. 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 ALS Labs Terrace prep site.

On Behalf of the Board of Directors

ASCOT RESOURCES LTD.

John A. Toffan, President and Director

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

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; statements regarding the exploration and mineralization potential of the Premier property, 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 Ascot'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. Ascot 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.

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