Mr. Rick Zimmer reports

ASCOT RESOURCES PROVIDES UPDATE ON CEO REVIEW AND POSTPONES SCHEDULED CONFERENCE CALL

Ascot Resources Ltd.'s newly appointed president and chief executive officer, Jim Currie, and his new management team, are continuing a detailed review and assessment of Ascot's mining operations and overall business strategy. Given the significance and complexity of this process, Mr. Currie requires additional time to complete his evaluation.

As a result, the previously scheduled conference call, announced in the company's Jan. 15, 2025, press release, has been postponed. The company will announce a new date for the conference call in a subsequent press release once Mr. Currie has completed his review and is prepared to provide a comprehensive update to stakeholders.

"It is critical to ensure that we provide a thorough and transparent assessment of Ascot's operations and strategy to our shareholders," said Mr. Currie. "I appreciate the patience of our stakeholders as I undertake this review to chart the best path forward for the company."

Ascot remains committed to maintaining open and timely communication with its shareholders, stakeholders and the broader investment community. The company thanks all stakeholders for their understanding and continued support during this period.

About Ascot Resources Ltd.

Ascot is a Canadian mining company headquartered in Vancouver, B.C., and its shares trade on the Toronto Stock Exchange (TSX) under the ticker AOT and on the OTCQX under the ticker AOTVF. Ascot is the 100-per-cent owner of the Premier gold mine, which poured first gold in April, 2024, and is located on Nisga'a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia.

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