Mr. James Currie reports

ASCOT ANNOUNCES LEADERSHIP TRANSITION AND NAMES CHRISTOPHER PARK AS INTERIM CHIEF FINANCIAL OFFICER

Christopher Park will be joining Ascot Resources Ltd. as interim chief financial officer, effective May 15, 2025. He succeeds Carol Li, who will retire as chief financial officer and transition into an adviser role with Ascot effective May 15, 2025.

The board extends its gratitude to Ms. Li for her significant contributions and dedication to the company during her eight years as chief financial officer. In support of a smooth transition, Ms. Li will remain as an adviser as required.

The board welcomes Mr. Park as he guides the company through the next phase of development and into commercial production.

Mr. Park is a seasoned finance leader with over 25 years of experience, of which 20 were within the mining sector. He brings to Ascot deep experience in leading the finance function during transformational periods, most notably during two project constructions. Mr. Park began his career in public accounting before moving to corporate controllership roles. He is a designated CPA, CGA.

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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