Ascot Resources Ltd. announced the last remaining assay results from the 2022 exploration drill program at the company's Premier Gold Project, located on Nisga'a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. These results are from surface drilling for in-fill and exploration purposes at the Day Zone and the Big Missouri deposit, approximately six kilometres north of the past-producing Premier mill. This release summarizes the fourth and final batch of assay results from 2022 surface drilling at the Big Missouri deposit, as well as all holes drilled at the Day Zone.

Twelve holes totaling 1,227 metres were drilled from two pads (BM4/22 and BM5/22) at the Day Zone and four holes totaling 495 metres were drilled from pad BM6/22 at the Big Missouri deposit, just south of the S1 Pit where the underground portal is located. Day Zone drilling: Holes drilled from pads BM4/22 and BM5/22 were targeting a 150 metre gap zone between previous drill pads. Drill holes from pad BM5/22 were successful in identifying continuity of mineralized zones from the south, as evidenced by hole P22-2459 which intercepted 198.50 g/t Au over 1.00m and hole P22-2460 which intercepted 43.30 g/t Au over 1.50m - both at similar elevations as previously planned stopes.

Holes drilled from BM4/22 were successful in identifying gold mineralization in a previously undrilled area, as evidenced by hole P22-2449 which intercepted 14.70 g/t Au over 2.00m. Hole P22-2453 intercepted 11.75 g/t Au over 1.00m adjacent to a previously planned stope to the north, implying an extension of mineralization. In addition to mineralization being identified in the 150 metre gap zone, mineralization at the Day Zone remains open to the north and south.

Big Missouri drilling: At the end of the 2022 surface drill season at PGP, four drill holes totaling 495 metres were drilled from pad BM6/22 at the Big Missouri deposit. These holes were meant for in-fill and exploration purposes around existing planned stopes. High-grade gold mineralization was intercepted in and near planned stopes, including in hole P22-2464 which intercepted 8.84 g/t Au over 5.07m including 21.40 g/t Au over 1.00m, and hole P22-2462 which intercepted 9.11 g/t Au over 4.19m including 16.95 g/t Au over 1.00m.