Resource World Magazine

F E B R U A R Y / M A R C H 2 0 1 7 www.resourceworld.com 45 Vancouver-based ASCOT RESOURCES LTD. [AOT-TSXV] continues to report impressive drill results from its flagship, high-grade, advanced, exploration Premier Project located in the Golden Triangle region of northwest British Columbia. The property covers more than one hundred km 2 and hosts the historic Premier Mine that produced over 2 million ounces of gold and over 44 million ounces of silver. In 2016, Ascot Resources drilled 69,123 metres in 279 holes. Bob Evans, Ascot Resources' CFO, told Resource World that this brings the total number of metres drilled on the property, since it began drilling in 2007, to ~290,000 metres. Some recent highlights from the 2016 exploration program include: • P16-1216 in the 609 Zone area which intersected an uncut average of 125.50 g/t gold over a core length of 1.50 metres within a broader interval grading 13.71 g/t Au over 14.80 metres. • P16-1212 in the 602 Zone intersected an uncut average of 90.20 g/t gold over a core length of 1.00 metre within a broader interval grading 11.07 g/t Au over 9.60 metres and P16-1215 with an uncut aver - age of 88.90 g/t gold over a core length of 1.00 metre within a broader interval grad- ing 14.79 g/t Au over 7.70 metres • P16-1223 returned an average result of 4.65 g/t gold over a core length of 26.00 metres. The company reported that, "One of the final holes of the season intersected an extension 200 metres to the northwest of the Northern Lights system which opens up the system in a totally unexplored area." In 2014, Ascot Resources reported a pit constrained indicated resource estimate for the northern areas, Big Missouri, Martha Ellen and Dilworth zones of 93,502,000 tonnes grading 0.82 g/t gold and 6.9 g/t silver for a gold equivalent (AuEq) of 0.94 g/t, for 2,475,000 oz gold and 20,783,000 oz silver totaling 2,830,000 oz AuEq and an inferred resource of an additional 79,280,000 tonnes grading 0.59 g/t gold and 7.2 g/t silver for a gold equivalent (AuEq) of 0.72 g/t for 1,494,000 oz gold and 18,238,000 oz silver totaling 1,804,000 oz AuEq. Evans told Resource World that the company hopes to publish an ini - tial high-grade resource for the southern Premier Mine area early 2018. The property is road accessible from the town of Stewart and has excellent infra- structure: mill and assay lab buildings, crusher setup, tailings area with multi- year capacity; a new hydroelectric project crosses property, haulage roads through- out; 25 kV power to site; 4 level and 6 level adit access to underground. The company owns and operates its own drills. Ascot Resources recently announced that it has closed a brokered private placement of 4,000,997 flow-through common shares (at a price of $2.25 per share) for gross pro - ceeds of $9,002,243.25. The proceeds will be used to fund a portion of the 2017 explo- ration program. The company will soon be announcing details. Evans said, "We have a substantial drill program, both from surface and underground, planned for 2017." As of December 31, 2016, Ascot Resources had 139,648,126 shares out - standing, 19,781,130 warrants and 10,000,000 options with a market cap of $274 million. n ASCOT RESOURCES continues to report high-grades on its Premier Project by Kathrine Moore GOLDEN TRIANGLE

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