IDM Mining Announces Securityholder Approval of Plan of Arrangement with Ascot Resources

Press Release

March 20, 2019, Vancouver, BC – IDM Mining Ltd. (TSXV: IDM) (OTCQB: IDMMF) (“IDM” or the “Company”) is pleased to announce that the securityholders of IDM have voted in favour of the necessary resolutions for the arrangement (the “Arrangement”) between Ascot Resources Ltd. (TSXV: AOT) (OTCQX:  AOTVF) (“Ascot”) and IDM previously announced on January 7, 2019.

Pursuant to the terms of the Arrangement, Ascot will acquire all of the issued and outstanding common shares of IDM (“IDM Shares”) and, in exchange, shareholders of IDM will receive 0.0675 of a common share of Ascot (“Ascot Shares”) for each IDM Share held.

Each outstanding warrant of the Company (an “IDM Warrant”) shall be adjusted in accordance with the adjustment provisions in the relevant warrant certificate or warrant indenture such that following the completion of the Arrangement, each holder of IDM Warrants shall receive, upon exercise thereof, that number of Ascot Shares determined in accordance with the exchange ratio, in lieu of each IDM Share to which it was otherwise entitled to receive upon exercise.

Closing of the Arrangement remains subject to court approval as well as other customary closing conditions. Assuming the timely completion of these conditions, IDM expects the Arrangement to close on or about March 27, 2019.

About Ascot Resources Ltd.

Ascot is a gold and silver focused exploration company with a portfolio of advanced and grassroots projects in the Golden Triangle region of British Columbia. The company’s flagship Premier project is a near-term high-grade advanced exploration project with large upside potential. Ascot is poised to be the next Golden Triangle producer with an experienced and successful exploration, development and operating team, coupled with a highly regarded major shareholder.

About IDM and Red Mountain

IDM Mining Ltd. is an exploration and development company based in Vancouver, BC, Canada focused on advancing the Red Mountain Gold project towards production. The 17,125 hectare Red Mountain Gold project is located in northwestern BC, 15 km northeast of the mining town of Stewart.

ON BEHALF OF THE BOARD
of IDM Mining Ltd.

“Robert McLeod”

President, CEO and Director

For more information, contact:

Robert McLeod
604-681-5672 office
604-617-0616 mobile
rm@idmmining.com

Investor Relations:
Vanessa Pickering
604-681-5672 office ext 7112
604-202-2940 mobile
vp@idmmining.com

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