Mr. Mark Brennan reports

ASCENDANT RESOURCES ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Ascendant Resources Inc. has closed the second and final tranche of the previously announced private placement with an affiliate of Sprott Streaming, pursuant to which Sprott acquired more than 20 per cent of the issued and outstanding common shares of Ascendant.

Pursuant to the second tranche, the Canadian-dollar equivalent of approximately $927,971.94 (U.S.) of accrued and deferred interest owing by Ascendant to Sprott under a secured note has been satisfied by the issuance of 17,675,656 common shares of the company at a deemed price of 5.25 cents per share.

The shares issued in connection with the second tranche are subject to a hold period of four months and one day, in accordance with applicable securities legislation.

Additional details about the private placement can be found in the company's prior news releases dated Feb. 3 and Feb. 11, 2025, and the related material change report dated Feb. 13, 2025, and the management information circular of Ascendant dated April 3, 2025, copies of which are available on SEDAR+ under Ascendant's issuer profile.

About Ascendant Resources Inc.

Ascendant Resources is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada 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 the 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 Lda.

We seek Safe Harbor.