Ascot Resources Ltd.

Ascot Resources Ltd.

April 03, 2007 11:48 ET

Ascot Resources Ltd.: Swamp Point Announces Commencement of Production

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2007) - Ascot Resources Ltd. ("Ascot") (TSX VENTURE:AOT) is pleased to announce that production has commenced on its wholly owned Swamp Point Aggregate Mine located near Stewart, British Columbia. Shipments of aggregate by barge will begin the week of April 9, 2007. Initial contracts call for the supply of aggregate to the Port of Prince Rupert as part of a container port development.

A full equipment spread including a mining fleet, crushing and screening equipment and a telestacker are operating on site. Required surface infrastructure is in place. Pre-development stripping, lay down areas, and barge dock and loadout system are complete and in operation. Capital programs are underway to allow for anticipated production and shipment of 300,000 to 500,000 tonnes of a variety of aggregate products in 2007.

The Company is continuing an aggressive campaign to develop markets throughout the Pacific Rim and is working closely with a well established shipping and logistics company as part of its efforts to ensure long term marine freight support for the operation. A Pre-Feasibility Study prepared by independent consultant Hatch Limited identified a 45.8 million tonne Measured Resource of sand and gravel, which will support a 3.3 million tonne per year operation capable of providing aggregate year round to British Columbia, California and other Pacific coastal markets (News Release December 19th, 2005).

The Swamp Point Aggregate Mine is located on tidewater 50 km south of Stewart in northern British Columbia. The majority of workers on site are residents of Northwestern British Columbia. Yukon Engineering Services of Whitehorse provides all site management and general engineering for project construction. Screening, crushing and loading is being provided under contract by Spring Creek Aggregates Limited of Terrace, BC. Jock's Excavating Ltd. of Terrace, BC is supplying equipment and mining services, as well as construction and development of site infrastructure. Broadwater Industries Ltd. of Prince Rupert, BC supplied all engineering and construction services for the installation of the barge docking and fendering infrastructure.

Hans Q. Smit, P.Geo., a director of Ascot, and a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release.

The Company is very pleased with the progress of the Swamp Point Aggregate Operation to date and will continue to work towards developing the project to meet the growing demand in aggregate markets on the Pacific Rim.


Ken Carter, Director

Statements contained in this news release that are not historical fact, such as statements regarding the economic prospects of Ascot's projects, Ascot's future plans or future revenues, timing of development or potential expansion or improvements, are forward-looking statements. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties include, but are not limited to, Ascot's ability to raise sufficient capital to fund development, changes in economic conditions or financial markets, changes in prices for Ascot's mineral products or increases in input costs, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments in Canada or the United States, technological and operational difficulties or inability to obtain permits encountered in connection with our exploration and development activities, labour relations matters, and changing foreign exchange rates.

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

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