ASCENDANT RES INC ORD - ASDRF STOCK NEWS

Ascendant Resources Inc. (ASDRF) has announced significant results from its ongoing infill drill program at the Lagoa Salgada VMS Project in Portugal. Notable findings include the discovery of a new Copper-Gold rich semi-massive sulphide zone east of the South Zone, with assays showing 6m @ 1.77% Cu and 0.8 g/t Au from 201m. Continuous high-grade mineralization was reported in the North Zone, notably 59m @ 16.76% ZnEq. The new discoveries may enhance the resource scale, supporting the feasibility study for the Venda Nova deposit.

Ascendant Resources Inc. announces an increase in its ownership of the Lagoa Salgada VMS project from 25% to 50%. The company has invested US$9 million and made a US$1 million payment to Mineral & Financial Investment AG. Plans are in place to elevate ownership to 80% by year-end pending completion of a feasibility study. The Lagoa Salgada project, located in Portugal, demonstrates significant resource potential with over 10.33 million tonnes of Measured and Indicated Resources. A Preliminary Economic Assessment indicates strong financial prospects with a low capital investment.

Ascendant Resources Inc. (OTCQB: ASDRF) announced significant exploration developments at the Lagoa Salgada Property in Portugal. Key highlights include:

• Identification of copper-rich stockworks and a transition zone at Venda Nova North;
• Potential discovery of a new massive sulphide lens at Venda Nova South;
• New geophysical anomalies detected across the Lagoa Salgada Property.

Chairman Mark Brennan emphasized the transformational potential of these findings for resource growth and upcoming drilling programs aimed at expanding the project's overall potential.

Ascendant Resources Inc. (OTCQB: ASDRF) announced positive assay results from its 6-hole metallurgical drilling campaign at the Venda Nova deposit within the Lagoa Salgada Project, Portugal. Significant intervals of high-grade mineralization were reported, including 109.0m @ 20.15% ZnEq from drill hole Met_MS_01. The exploration has defined new zones of enriched copper and silver that are expected to enhance the resource's economic potential. The ongoing drilling program aims to provide fresh samples for metallurgical testing and supports the feasibility study for the project's advancement.

Ascendant Resources Inc. announces that its Lagoa Salgada VMS project has been recognized as a Project of National Interest (PIN) by the Portuguese Government. This designation facilitates expedited permitting and construction processes, highlighting strong local and governmental support. The recognition is a significant milestone for the project, which is expected to enhance local economies and support Portugal's mining sector. The project is backed by a favorable Preliminary Economic Assessment indicating a low capital investment of US$132 million, with an after-tax NPV of $246 million and an IRR of 55%.

Ascendant Resources Inc. (ASDRF) announced significant advancements in its ongoing Feasibility Study at the Venda Nova deposit, Lagoa Salgada Project, in Portugal. As of March 20, 3,520 meters of an 18,000-meter infill and exploration drill program have been completed. Detailed metallurgical testing is in progress, with results expected in mid-April. Additionally, a scope for the Environmental Impact Assessment has been submitted to Portuguese authorities. The Feasibility Study, led by Quadrante Engenharia, is aimed for completion by year-end 2022, demonstrating strong development potential.

Ascendant Resources has launched a new drill program at its Lagoa Salgada VMS project in Portugal, aiming to complete a Feasibility Study in 2022. The program consists of approximately 15,000 meters of diamond drilling, which includes both infill and exploration drilling. The goal is to upgrade Inferred resources to Measured and Indicated categories. The company recently completed a Preliminary Economic Assessment (PEA) that highlighted a low capital expenditure of US$132 million and an after-tax NPV of $246 million.

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.

Ascendant Resources has signed a definitive mining concession contract with the Portuguese Government for its Lagoa Salgada VMS project. This contract, effective for 20 years, allows for two extensions and outlines a phased development approach. Phase 1, lasting six years, involves exploration and obtaining necessary approvals, while Phase 2 focuses on mineral exploitation and building an ore treatment facility. The project boasts significant resources, including over 10.33 million tonnes of measured and indicated resources, and is positioned to contribute to regional economic development.