Mr. Mark Brennan of Ascendant Resources reports

ASCENDANT RESOURCES RECEIVES FINAL COURT ORDER APPROVING ARRANGEMENT WITH CERRADO GOLD INC.

Ascendant Resources Inc. has received a final order from the Ontario Superior Court of Justice (commercial list) approving the previously announced plan of arrangement with Cerrado Gold Inc.

The closing of the arrangement remains subject to customary closing conditions. Assuming the satisfaction or waiver of these remaining closing conditions, it is anticipated that the arrangement will be completed on or around May 16, 2025.

Additional details regarding the arrangement can be found in the company's prior news release dated Feb. 3, 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.