Ascot Provides Update on Restructuring

VANCOUVER, British Columbia, December 1, 2025 — Ascot Resources Ltd. (TSXV: AOT.H; OTCID: AOTVF) (“Ascot” or the “Company”) provides an update that it continues to pursue the proposed transactions disclosed on October 23, 2025 (the “Restructuring”).

The Company’s stock was halted on November 28, 2025 in anticipation of announcing certain terms of the C$150 million private placement and secured creditor restructuring that were described in the Company’s Restructuring press release of October 23, 2025, however, the Company did not come to terms, including pricing, and has no additional information to announce at this time

The structure and pricing of the private placement remain undetermined. If the private placement is not completed, the Company will need to pursue other alternatives, including the possibility of initiating proceedings under the Companies’ Creditors Arrangement Act (CCAA). There is no certainty that any such alternatives will be available.

The Company has a cash position of C$1.9 million at December 1, 2025 and expects to have sufficient funds to sustain current operations until mid-December.

Additional Information

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States.

Neither the NEX or the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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

and:

Robert McLeod
Email: rmcleod@fioreconsultants.com
Phone: 604-617-0616

About Ascot

Ascot is a Canadian mining company headquartered in Vancouver, British Columbia, and its shares trade on the NEX under the ticker AOT.H and on the OTCID under the ticker AOTVF. Ascot is the 100% owner of the Premier Gold mine which is located on Nisga’a Nation Treaty Lands, in the prolific Golden Triangle of northwestern British Columbia.

For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca or visit the Company’s web site at www.ascotgold.com.

NT4