Ascendant Announces Executive Appointment

Rhea-AI Summary

Ascendant Resources announces the appointment of David Ball as Vice President of Business Development. With extensive experience in mining finance and M&A, Mr. Ball previously served as CFO of Santiago Metals Limitada and held senior roles at Macquarie Capital. He possesses a solid background in corporate advisory and fundraising across various regions, including North and South America. His expertise is expected to enhance Ascendant's growth as they advance their Lagoa Salgada VMS project in Portugal, which boasts significant resources and potential for scaling up production.

Positive

• Appointment of David Ball as Vice President of Business Development, enhancing company expertise in mining finance and M&A.
• Significant resource potential at Lagoa Salgada project: 10.33 million tonnes of Measured and Indicated Resources.
• Strong growth potential with proposed increase in project interest from 21.25% to 80%.

Negative

• None.

Senior mining finance & M&A professional to augment growth opportunities

TORONTO, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Ascendant Resources (the “Company”) (TSX:ASND), is pleased to announce that David Ball has joined Ascendant Resources as Vice President, Business Development.

Mr. Ball was most recently Chief Financial Officer of Santiago Metals Limitada., a private Chilean based copper producer and portfolio company of US Private Equity group, Denham Capital. Previously he held senior positions at Macquarie Capital, an Australian Investment Bank. During his career in the metals and mining sector, Mr. Ball has been actively involved in M&A, corporate advisory and fund raising of both equity and debt. Mr. Ball brings mining focused operational and capital markets experience from Australia, South East Asia and North & South America. Mr. Ball holds a Bachelor of Commerce with Distinction (Curtin University) and a Masters of Finance (INSEAD).

Mark Brennan, Executive Chairman, stated, “We are very pleased to have an established mining finance and M&A professional of David’s calibre join the management team at Ascendant. David’s considerable industry knowledge and market intelligence will help the Company to continue on its rapid growth path.”

For further information please contact:
Mark Brennan		Nicholas Campbell, CFA
Executive Chairman & Founder		Director, Corporate Development
Tel: +1-647-796-0023		Tel: +1-905-630-0148
mrbennan@ascendantresources.com		ncampbell@ascendantresources.com

About Ascendant Resources Inc.

Ascendant is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. Through focused exploration and aggressive development plans, the Company aims to unlock the inherent potential of the project, maximizing value creation for shareholders.

Lagoa Salgada contains over 10.33 million tonnes of Measured and Indicated Resources @ 9.06 % ZnEq and 2.50 million tonnes of Inferred Resources @ 5.93 % ZnEq in the Northern Zone; and 4.42 million tones of Indicated Resources @ 1.50 % CuEq and 10.83 million tonnes of Inferred resources @ 1.35 % CuEq in the South Zone. The deposit demonstrates typical mineralization characteristics of Iberian Pyrite Belt VMS deposits containing zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 10,700ha property concession. The project also demonstrates compelling economics with scalability for future resource growth in the results of the Preliminary Economic Assessment. Located just 80km from Lisbon, Lagoa Salgada is easily accessible by road and surrounded by exceptional Infrastructure. Ascendant holds a 21.25% interest in the Lagoa Salgada project through its 25% position in Redcorp - Empreendimentos Mineiros, Lda, ("Redcorp") and has an earn-in opportunity to increase its interest in the project to 80%. Mineral & Financial Investments Limited owns the additional 75% of Redcorp. The remaining 15% of the project is held by Empresa de Desenvolvimento Mineiro, S.A., a Portuguese Government owned company supporting the strategic development of the country's mining sector. The Company's interest in the Lagoa Salgada project offers a low-cost entry to a potentially significant exploration and development opportunity, already demonstrating its mineable scale.

The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "ASND". For more information on Ascendant, please visit our website at www.ascendantresources.com.

Additional information relating to the Company, including the Preliminary Economic Assessment referenced in this news release, is available on SEDAR at www.sedar.com.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

FAQ

Who is David Ball in relation to Ascendant Resources?

David Ball has been appointed as Vice President of Business Development, bringing extensive mining finance and M&A experience.

What is the significance of the Lagoa Salgada project for Ascendant Resources?

The Lagoa Salgada project contains substantial mineral resources and offers strong growth potential, making it critical for the company's future.

What is Ascendant Resources' stock symbol?

Ascendant Resources' stock is listed on the Toronto Stock Exchange under the symbol ASND.

What are the key resources in the Lagoa Salgada project?

The Lagoa Salgada project includes over 10.33 million tonnes of zinc and copper resources, among other minerals.