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VANCOUVER, British Columbia, May 6, 2024 (GLOBE NEWSWIRE) — Ascot Resources Ltd. (TSX:AOT; OTCQX:AOTVF) (“Ascot” or the “Pursue“) announces today that Don Njegovan is resigning as a Director of the Company effective May 9, 2024 to concentrate on his responsibilities at Osisko Mining Inc. Ascot’s remaining six directors have appointed Derek White, the company’s current President and CEO, as the company’s new President and CEO, replacing Mr. Njegovan as a director, also with effect from May 9, 2024.
Mister. Njevan explained: “I would like to congratulate the board and the entire team at Ascot on all their achievements and wish them the greatest success in the future.”
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The directors and management of Ascot would like to thank Don for his valuable insight and leadership over the last six and a half years of his service on the Board.
On behalf of the Board of Ascot Resources Ltd.
“Derek C White”
President and Managing Director
For further information please contact:
David Stewart, P.Eng.
Vice President, Corporate Development and Shareholder Communications
[email protected]
778-725-1060 ext 1024
About Ascot Resources Ltd.
Ascot is a Canadian mining company focused on commissioning its 100% owned Premier Gold Mine, which produced its first gold in April 2024 and is located in NišGa’a Nation Treaty Lands, in the productive Golden Triangle of northwestern British Columbia. Concurrent with Premier’s commissioning into commercial production, expected in the third quarter of 2024, the Company continues to explore its properties for additional high-grade gold mineralization. Ascot is headquartered in Vancouver and its shares trade on the TSX under the ticker symbol AOT and on the OTCQX under the ticker symbol AOTVF. Ascot is committed to the safe and responsible operation of the Premier Gold Mine in collaboration with the Nisga’a Nation and the local communities of Stewart, BC and Hyder, Alaska.
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For additional information about the Company, please see the Company’s profile on SEDAR+ at www.sedarplus.ca or the Company’s website at www.ascotgold.com.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
All statements and other information contained in this press release regarding expected future events may constitute forward-looking information under Canadian securities laws (“forward-looking statements“). Forward-looking statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “targeted,” “outlook.” , “on track” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, “would” or “could” occur or be achieved and other similar expressions . All statements contained herein, other than statements of historical fact, are forward-looking statements, including statements regarding the progress and development of the PGP and the related timing, the completion of the PGP mine, gold production and management’s prospects Rest of 2024 and beyond. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including risks associated with entering into definitive agreements for those described herein transactions; satisfaction of the conditions to the closing of the transactions described herein, including receipt of TSX approvals; the Ascot store; risks associated with the exploration and potential development of the Ascot Projects; business and economic conditions in the mining industry generally; fluctuations in raw material prices and exchange rates; uncertainties associated with the interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation between government authorities and indigenous groups in the exploration and development of the Ascot properties and the issuance of necessary permits; the need to obtain additional financing for property development and uncertainty regarding the availability and terms of future financing; the possibility of delay in exploration or development programs and the uncertainty of achieving expected program milestones; uncertainty regarding the timely availability of permits and other regulatory approvals; and other risk factors as set forth from time to time in Ascot’s filings with the Canadian securities regulatory authorities, available on Ascot’s profile on SEDAR+ at www.sedarplus.ca, including the Company’s Annual Information Form dated March 25, 2024 under the section “Risk Factors.” “. “. Forward-looking statements are based on assumptions regarding: the estimated costs associated with construction of the Project; the expected start date of production on the project; the ability to maintain throughput and production levels at the PGP facility; the tax rate applicable to the company; future commodity prices; the level of mineral resources and mineral reserves; the Company’s ability to convert inferred mineral resources into other categories; the Company’s ability to reduce mining dilution; the ability to reduce capital costs; and exploration plans. Forward-looking statements are based on management’s estimates and opinions as of the date such statements are made. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as Ascot can give no assurance that such expectations will prove to be correct. Ascot undertakes no obligation to update any forward-looking statements, except as required by law. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.
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