Mr. Mark Brennan reports

ASCENDANT FILES FINAL STAGE SUBMISSION OF ITS ENVIRONMETAL IMPACT ASSESSMENT FOR ITS LAGOA SALGADA PROJECT, PORTUGAL

Ascendant Resources Inc. has successfully submitted additional and revised information as part of the final stage in the environmental impact assessment (EIA) process for its Lagoa Salgada project, through its Portuguese subsidiary, Redcorp -- Empreendimentos Mineiros Ltda. This final submission is in response to a request from Agencia Portuguesa do Ambiente (APA), the Portuguese environmental regulatory body, and is subject to no additional requests prior to approval of the EIA.

EIA delivery timeline:

• Submission of additional material: As anticipated, APA requested further information, which has been compiled and submitted by Ascendant's technical team and environmental consultants.
• Prephase review timetable: The 90-working day review period was paused upon APA's request for additional information and has now resumed with the submission of the requested data.
• Declaration of conformity: Ascendant expects to receive a declaration of conformity for the EIA within the next 20 working days.
• Public consultation: Following the declaration, there will be a period of public consultation and a review by APA's evaluation committee.
• Final technical statement: The results from the public consultation and the evaluation committee's review will form the basis for the committee's final technical statement, allowing APA to prepare the environmental impact declaration (DIA) and grant the project its DIA.
• Completion of prephase: This will complete the prephase stage of the EIA application process. The project will then move to the second stage, Recape, expected to take 60 working days for its review once delivered to APA. Subject to APA's approval, the project will receive its environmental title.

Upon approval of the EIA, the project will enter the Recape phase (environmental compliance report of the execution project). The Recape phase aims to verify that the execution of the project complies with the criteria established in the environmental impact declaration (DIA); complying with the terms and conditions set forth therein would position the project to be ready for the execution of a formal construction decision once all criteria are determined and approved. While in this phase, the company may be authorized to initiate select minor early works on the project. This phase and receipt of the Recape, expected during Q4 2024 would allow the company to begin construction of the Lagoa Salgada project.

Mark Brennan, chairman of Ascendant, stated: "APA's request for additional information and revisions is a standard part of the EIA approval process in Portugal. I commend our technical team and external consultants for their comprehensive and high-quality responses to APA's requests." In addition, he stated: "We continue to work extremely closely with the regulators, the community and various Portuguese government departments to advance our Lagoa Salgada project. The efficiency of the process is a testament to the government of Portugal and our status as a PIN project. The approval of the EIA, is another milestone that would establish the Lagoa Salgada project's position as one of the most advanced projects on the Iberian pyrite belt today."

About Ascendant Resources Inc.

Ascendant Resources is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS (volcanogenic massive sulphide) project, located on the prolific Iberian pyrite belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective stepout targets across the large 7,209-hectare property concession.

Located just 80 kilometres from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its minable scale and cash flow generation potential.

Ascendant currently holds an 80-per-cent interest in the Lagoa Salgada project through its position in Redcorp -- Empreendimentos Mineiros. The company's common shares are principally listed on the Toronto Stock Exchange under the symbol ASND.

We seek Safe Harbor.