Ascot Reports on the Passing of Founder, John Toffan

Press Release

Vancouver, B.C. July 2, 2019 — Ascot Resources Ltd. (TSX.V: AOT, OTCQX: AOTVF) (“Ascot” or the “Company”) announces with great sadness the recent passing of John Toffan. John was the founder of Ascot Resources and for twenty-nine years its President and Chief Executive Officer. John had a long and prolific career in the Golden Triangle region of BC, being involved in some of the area’s major discoveries. He was pivotal to the financing and running of Delaware Resources which eventually became the Snip Mine and he was President of Stikine Resources when it discovered the Eskay Creek mine. John acquired an option on the Premier property for Ascot in 2009 and in the following years significantly increased the known resources on the property before passing the reins on to current management in late 2017. In addition to his considerable achievements in the Golden Triangle, John had a very successful career in horse racing where he co-owned Grade 1 winners that included Bien Bien, Came Home and Free House.

The Company also announces that it has issued an aggregate of 726,111 number of shares using the volume weighted average trading price of CAD$0.6986 (June 28, 2019) to Sprott Private Resource Lending (Collector), LP (“Sprott”) and Resource Income Partners Limited Partnership (“RIPLP”), in satisfaction of interest payment obligations equal to an aggregate of CAD$507,261 in accordance with the terms of convertible debentures issued by the Company in favour of Sprott and RIPLP.

For more information about the Company, please refer to the Company’s profile on SEDAR at www.sedar.com or www.ascotgold.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF
ASCOT RESOURCES LTD.

“Derek C. White”, President and CEO

For further information, please contact:
Ascot Resources Ltd.
Kristina Howe
VP, Investor Relations
Tel: 778-725-1060 ext. 1019
Email: khowe@ascotgold.com

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