Premier Gold Project Construction Nearing Completion

VANCOUVER – Ascot Resources Ltd. reported on construction at the Premier Gold Project (PGP), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. Project construction was 86% complete as of December 31, 2023 (approximately 90% as of January 31, 2024) and is currently nearing completion, with first ore delivery to the mill anticipated by the end of March 2024, and first gold pour anticipated in April.

Derek White, President and CEO, said, “With Project construction nearing completion and early commissioning underway, we eagerly anticipate progressing to the production and operations phase at the Premier Gold Mine. The Project also accomplished an impressive safety milestone having surpassed one million hours without a lost time incident, along with another quarterly reduction in total recordable incident frequency. We are also proud to have recently closed an additional financing package which we believe is sufficient for the Company to progress from construction to first gold pour, ramp-up, commercial production and steady-state operations. This is an opportune time for us to become Canada’s next gold producer.”