Ascot Resources

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September 20, 2022 at 2:00 PM (MDT)|Broadmoor Hotel & Resort

SAFE HARBOR STATEMENT

All statements, trend analysis and other information contained in this presentation about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein are forward-looking statements, including statements with respect to completing full-scale construction and beginning commercial production at the Premier Gold Project (“Premier” or “PGP”) and the Red Mountain Project (“Red Mountain” or “RMP” and, together with PGP, defined herein as, the “Project”), capital cost estimates in completing development at the Project and other technical disclosure about the Project. Although Ascot believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Ascot can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Ascot’s periodic filings with Canadian securities regulators, and assumptions made with regard to: the estimated costs associated with construction of the Project; the timing of the anticipated start of production at the Project; the ability to maintain throughput and production levels at PGP; the tax rate applicable to the Company; future commodity prices; the grade of resources and reserves; the ability of the Company to convert inferred resources to other categories; the ability of the Company to reduce mining dilution; and the ability to reduce capital costs. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Ascot’s expectations include: risks associated with the business of Ascot; risks related to exploration and potential development of the Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and indigenous groups in the exploration and development of properties; maintain or obtaining governmental approvals and permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; risks associated with COVID-19 including adverse impacts on the world economy, construction timing and the availability of personnel; the potential for labour disputes; and other risk factors as detailed from time to time and additional risks identified in Ascot’s filings with Canadian securities regulators, including the Annual Information dated March 21, 2022, in the section entitled "Risk Factors", available on Ascot’s SEDAR profile at www.sedar.com. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Ascot does not undertake any obligation to update forward-looking statements.
Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources
Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. It is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration; however, there is no certainty that these inferred mineral resources will be converted into mineral reserves, once economic considerations are applied. The mineral resource estimates referenced in this release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources". While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Ascot is not an SEC registered company.
Scientific and Technical Information
Certain information about the Project in this presentation is derived from the NI 43-101 technical report entitled “Premier & Red Mountain Gold Project Feasibility Study NI 43-101 Technical Report, British Columbia”, dated May 22, 2020, with an effective date of April 15, 2020 (the “Feasibility Study”) prepared by Sacré-Davey Engineering Inc., available on Ascot’s SEDAR profile at www.sedar.com
John Kiernan, P. Eng., Chief Operating Officer of the Company, is the Company's Qualified Person, as defined by National Instrument 43-101, and has approved the scientific and technical information regarding Ascot’s properties in this presentation.

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