Ascot Announces Share Consolidation Effective Date

Press Release

VANCOUVER, British Columbia, December 11, 2025 — Ascot Resources Ltd. (TSXV: AOT.H; OTCID: AOTVF) (“Ascot” or the “Company”) announces that the effective date for the previously announced share consolidation (the “Consolidation”) will be December 16, 2025. As outlined in the Company’s news release dated October 23, 2025, the Consolidation will be conducted on the basis of (50) pre-consolidation common shares (the “Pre-Consolidation Shares”) for one (1) post-consolidation common share (the “Post-Consolidation Shares”). The Consolidation is part of a larger restructuring process, including a rights offering, the Consolidation, a bridge financing and a private placement.

The Post-Consolidation Shares are scheduled to begin trading on NEX Board (the “NEX”) of the TSX Venture Exchange (the “TSX-V”) at the market open on December 16, 2025, under the existing symbol “AOT.H”. Following the Consolidation, the new CUSIP number for the common shares will be 04364G783 and the new ISIN number will be CA04364G7839. There will be no name change in association with the Consolidation.

No fractional shares will be issued as a result of the Consolidation. Any fractional interest in shares resulting from the Consolidation that is less than 0.5 of a common share will be rounded down to the nearest whole share and any fractional interest in common shares resulting from the Consolidation that is 0.5, or greater, of a common share will be rounded up to the nearest whole share. In all other respects, the Post-Consolidation Shares will have the same attributes as the Pre-Consolidation Shares. Following the Consolidation, the Company’s 1,487,580,162 common shares currently issued and outstanding will be approximately 29,751,603 common shares issued and outstanding, not accounting for the closing of a rights offering on a pre-consolidated basis.

The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding warrants, stock options and convertible debentures, as applicable, will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms.

The Consolidation was approved by the shareholders of the Company in accordance with section 7.1 of Policy 5.8—Issuer Names, Issuer Name Changes, Share Consolidations and Splits and by the board of directors of the Company in accordance with the Business Corporations Act (British Columbia) and the Articles of the Company.

The Company’s transfer agent, Computershare Investor Services Inc. (“Computershare”), will mail a letter of transmittal to registered shareholders of the Company providing instructions on exchanging Pre-Consolidation Share certificates for Post-Consolidation Share certificates or Direct Registration System (DRS) advices. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.  Until surrendered, each share certificate (or DRS advice) representing Pre-Consolidation Shares will be deemed to represent the number of whole Post-Consolidation Shares to which the shareholder is entitled as a result of the Consolidation.

The Consolidation remains subject to the final approval of the TSX-V. Additional details regarding the Consolidation can be found in the Company’s news release dated October 23, 2025 available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

The TSX-V has neither approved nor disapproved the content of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

On behalf of the Board of Directors of Ascot Resources Ltd.

James A. (Jim) Currie
CEO and Director

For further information contact:
Email: info@ascotgold.com
Phone: 778-725-1060

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