Ascot Resources Ltd. provided an overview of the 2023 exploration program at the Company's Premier Gold Project, located on Nisga'a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. The program consists of an initial 10,000 metres of surface drilling and will include exploration drilling for resource expansion as well as in-fill drilling of early mining areas at the Big Missouri and Premier deposits. The exploration drilling will focus on extending the Day Zone at Big Missouri and the Sebakwe Zone north of the Premier mill.

Up to an additional 4,000 meters of drilling have been budgeted and will be deployed towards surface and underground drilling depending on results of the initial 10,000 metres and the geophysical program. The 2023 exploration program will commence in June with a ground geophysical induced polarization survey aimed at extensions of mineralization in various parts of the property. The initial survey consists of approximately 30 line-kilometres but can be extended if warranted by initial results.

2023 EXPLORATION DRILLING PROGRAM: Ascot is planning to start the exploration drilling in late June in the area of the Premier deposit and move to Big Missouri later this summer when the snow is completely melted. Additional holes may be added in the Premier area towards the end of the exploration season. The drilling at Premier will be aiming to follow up exciting results from the last two years at the Sebakwe Zone where high-grade intercepts outlined significant potential to the north of established resource areas.

The westernmost holes from the 2022 drill program intercepted a younger dyke that terminated mineralization in this direction. Drilling to the west of the dyke is sparse to non-existent and consequently there is high potential for the Sebakwe Zone to continue to the west and northwest. Additional drilling will target early mining areas at the Premier deposit.

Drilling at Big Missouri is primarily designed to expand the emerging Day Zone at the western and northwestern side of the Big Missouri deposit. Drilling in 2021 and 2022 established a north-south striking zone of mineralization with high-grade intercepts underlining the potential of this zone. The Day Zone is striking north towards the Martha Ellen deposit with an unexplored gap of approximately 1,000 metres between the two zones of mineralization.

Additional drilling at Big Missouri will target early mining areas at this deposit. Underground development at Big Missouri will recommence at some time this summer and underground drill stations will become available as mining progresses. The Company plans to target resource areas from underground as soon as possible with shorter drill holes that can be aimed with higher precision compared to longer surface drill holes.