Ascendant Resources Reports 12.6 Metres at 12.2% ZnEq Including 735.2 g/t Ag as It Continues to Expand High-Grade Mineral Resources Through Drilling at El Mochito


TORONTO, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (TSX: ASND) (OTCQX: ASDRF; FRA: 2D9) ("Ascendant" or the "Company”) is pleased to announce results from an additional 54 diamond drill holes (10,410 metres) from its 2018 exploration and definition drilling program at its El Mochito mine in Honduras. The drilling was split between step-out (64%) and in-fill (36%) drill holes and targeted the following eight areas located mainly in the eastern portion of the mine; Port Royal Manto, Santa Barbara, Santa Elena, Porvenir, Palmar Dyke, Nueva Este, Victoria and San Juan (See Figure 1 and Tables 1 & 2 below). These results continue to support the Company’s goal of adding additional Mineral Resources by expanding higher-grade deposits at El Mochito. 

Key highlights (true/apparent widths1) include:

Step-out Drilling

  • DDH 11008 – 2.2m at 31.0% ZnEq1, 16.8% Zn, 12.2% Pb and 257 g/t Ag (Santa Elena)
  • DDH 11026 – 5.4m at 9.05 ZnEq, 8.5% Zn, 0.3% Pb and 16 g/t Ag (Porvenir)
  • DDH 11049 – 2.9m at 16.5% ZnEq, 11.3% Zn, 5.1% Pb and 61.1 g/t Ag (Porvenir)
  • DDH 10973 – 2.6m at 14.3% ZnEq, 13.8% Zn, 0.3% Pb and 13.9 g/t Ag (Victoria)

Infill Drilling

  • DDH 11031 – 6.0m at 12.4% ZnEq, 6.2% Zn, 6.0% Pb and 70.5 g/t Ag (Santa Barbara)
  • DDH 11065 – 12.6m at 12.2% ZnEq, 5.9% Zn, 5.1% Pb and 735.2 g/t Ag (Palmar Dyke)
  • DDH 11053 – 18.7m at 15.9% ZnEq, 9.2% Zn, 4.4% Pb and 196.2 g/t Ag (Nueva Este)
  • DDH 11058 – 19.5m at 10.4% ZnEq, 3.9% Zn, 3.3% Pb and 237.4 g/t Ag (Nueva Este)

Infill drilling at the Nueva Este orebody continues to deliver high-grade results over substantial adjusted widths, with drilling to date indicating the deposit continues to the southeast. The Santa Elena orebody forms part of the El Mochito production plan in 2019 and beyond with step-out drilling continuing to also indicate an eastern extension of the deposit. The Santa Barbara and Porvenir orebodies form part of the current Inferred Mineral Resource Estimate, and this drilling further adds in their delineation into Measured and Indicated categories. Results for the drilling in the Palmar Dyke area continues to demonstrate the high-grade nature of these deposits. The Palmar Dyke, Nueva Este and Santa Elena zones all returned significant silver assays, indicating the stronger silver mineralization of these deposits as they extend further past the current mining infrastructure. All deposits remain open along strike and at depth.

1 Please refer to tables for true/apparent widths which are estimated from actual drilled lengths.

Chris Buncic, President and CEO of Ascendant, commented: “We are extremely pleased with these results as they further support the Company’s view that there is strong potential for substantial Mineral Resource growth along strike of the known resources within the eastern portion of the mine. This reinforces the Company’s strategic view regarding the expansion and optimization plans laid out in the recently released Preliminary Economic Assessment, which envisions the installation of a subvertical shaft aimed at opening up the eastern portion of the mine.

He continued, “The Company is now well advanced on its 2018 exploration program at El Mochito having so far drilled 26,679 metres, of which 63% is step-out and 27% in-fill. Results continue to deliver high-grade intercepts, well above the current Mineral Resource grade, supporting the Company’s goal of upgrading Mineral Resources and subsequently further extending the mine life of El Mochito. Over its 70 year history, El Mochito has consistently demonstrated a high level of Mineral Resource conversion, making management confident it will be able to deliver further meaningful growth in the future.”

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3a11c9b8-e74c-49e7-a1f6-cb7f606f0131

Table 1: Significant Assays

Drill Hole CategoryDDH No.From (m)To (m)Length (m)True / Apparent Width (m)*Ag (g/t)Pb (%)Zn (%)ZnEq (%)**Area
Step Out11003296.7298.92.22.220.00.53.64.3Santa Elena
Step Out11008280.4282.42.01.918.01.73.45.1Santa Elena
Step Out11011269.7272.02.32.2257.012.216.831.0Santa Elena
and274.3276.11.81.832.72.94.37.2
including274.3275.51.21.218.01.11.83.0
including275.5276.10.60.662.06.49.215.6
Step Out11016692.7694.61.91.732.02.53.15.7Santa Elena
and699.5702.63.02.696.50.33.14.9
including699.5701.01.51.344.00.12.93.7
including701.0702.61.51.3149.00.53.36.0
Step Out11025482.5483.51.00.955.03.03.36.7Santa Elena
and542.0545.63.62.938.71.58.910.8
including542.0544.12.01.734.00.911.612.9
including544.1545.61.51.245.02.45.27.9
Step Out11039No Significant InterceptsSanta Elena
Step Out11044341.4342.91.51.555.05.36.011.4Santa Elena
and580.6581.91.21.2103.02.76.910.8
and588.1591.33.22.828.61.13.24.6
including588.1590.12.01.829.01.53.65.3
including590.1591.31.21.128.00.52.73.5
Step Out11056No Significant InterceptsSanta Elena
Step Out11063433.7435.61.81.729.02.33.15.5Santa Elena
Step Out11026234.8236.92.11.731.01.52.54.3Porvenir
and284.0292.68.65.416.30.38.59.0
including284.0286.22.21.411.00.310.711.1
including286.2288.01.81.16.00.12.32.5
including288.0289.61.51.019.00.36.97.5
including289.6292.63.01.925.00.311.412.0
Step Out11032249.0253.04.04.0201.01.63.68.1Porvenir
Step Out11049268.1272.34.32.961.15.111.316.5Porvenir
including268.1270.42.31.695.08.714.122.8
including270.4272.32.01.422.00.98.19.2
Step Out11055325.5327.01.51.160.03.74.28.2Porvenir
and383.4387.74.32.515.10.93.34.3
including383.4385.31.81.118.00.45.15.7
including385.3386.10.80.51.00.00.00.0
including386.1387.71.61.019.02.03.05.0
and393.7395.61.91.322.01.82.84.6
Step Out11061324.0325.51.51.127.02.02.95.0Porvenir
and333.1334.71.61.244.01.45.06.9
Step Out1100135.141.36.26.026.62.43.25.6Victoria
including35.136.61.51.523.01.72.24.0
including36.638.72.12.126.03.14.37.2
including38.741.32.62.529.22.22.85.2
and185.3186.51.21.141.01.92.54.7
and190.5192.52.01.921.01.53.14.7
and202.8205.72.92.863.10.95.87.6
and210.3213.12.72.613.90.313.814.3
including210.3211.81.51.417.00.417.117.7
including211.8213.11.21.210.00.29.69.9
and221.0225.94.94.240.31.04.05.5
including221.0222.51.51.338.01.32.03.6
including222.5224.01.51.362.01.47.09.2
including224.0225.91.81.624.00.53.13.9
Step Out11007No Significant InterceptsVictoria
Step Out1106251.357.25.95.474.71.13.95.9San Juan
including51.353.32.01.958.00.33.14.3
including53.357.23.83.583.61.54.36.8
and67.771.64.03.4182.31.12.46.2
including67.769.82.11.9114.00.41.94.1
including69.871.61.81.6262.02.03.08.7
Infill11004No Significant InterceptsPort Royal Manto
Infill11019No Significant InterceptsPort Royal Manto
Infill1102164.266.42.31.918.90.19.39.6Port Royal Manto
including64.265.21.10.95.00.03.13.1
including65.266.41.21.031.00.114.715.3
and69.879.69.86.730.50.37.98.6
including69.871.61.81.318.00.17.37.6
including71.673.21.51.05.00.12.32.5
including73.274.71.51.032.00.112.413.0
including74.776.21.51.024.00.36.36.9
including76.279.63.42.351.20.69.410.7
Infill11022No Significant InterceptsPort Royal Manto
Infill1102422.324.11.91.271.04.93.18.4Port Royal Manto
and126.8128.92.11.135.02.23.96.2
Infill1102750.752.72.11.639.03.54.37.8Santa Barbara
and56.157.91.81.330.00.73.34.4
Infill1102832.033.51.51.520.02.13.75.7Santa Barbara
and47.448.81.41.325.01.74.26.1
Infill1103050.952.92.01.653.04.35.29.6Santa Barbara
and57.559.11.71.423.02.23.05.2
and71.175.14.03.028.91.33.65.2
including71.173.22.01.643.02.24.26.7
including73.275.11.91.514.00.33.13.5
Infill1103132.033.51.51.535.01.02.94.3Santa Barbara
and39.245.76.66.070.56.06.212.4
including39.240.81.71.5141.07.88.917.6
including40.845.74.94.546.35.45.310.5
Infill1103426.028.22.22.035.01.15.06.4Santa Barbara
and31.334.02.72.459.74.65.810.6
including31.332.51.21.098.07.79.817.8
including32.534.01.51.330.02.22.85.0
and40.543.02.52.120.30.93.04.0
Infill1103636.038.12.11.724.02.03.05.0Santa Barbara
and41.442.51.10.837.01.82.14.2
Infill1103819.520.91.41.441.04.65.49.9Santa Barbara
Infill1104022.124.42.31.720.02.12.04.1Santa Barbara
and33.936.62.72.45.40.23.84.1
Infill1104227.736.38.58.046.02.86.49.5Santa Barbara
including27.729.61.81.747.01.04.35.9
including29.631.11.51.46.00.20.71.0
including31.132.91.81.737.04.82.77.3
including32.934.11.21.1152.010.312.823.8
including34.136.32.12.021.00.311.812.4
Infill1104368.071.33.42.341.92.810.613.6Santa Barbara
including68.069.21.20.826.02.56.49.0
including69.271.32.11.551.03.013.016.3
Infill1104541.845.74.03.840.94.16.310.3Santa Barbara
including41.844.22.42.334.03.95.08.8
including44.245.71.51.552.04.48.412.9
and52.754.72.01.791.05.08.414.0
Infill1104728.738.710.19.353.41.56.88.9Santa Barbara
including28.735.16.45.953.01.65.37.4
including35.136.61.51.488.02.714.017.7
including36.638.72.12.030.00.46.27.0
Infill1104832.936.33.42.849.62.64.77.7Santa Barbara
including32.934.11.31.119.02.02.04.0
including34.136.32.11.868.03.06.39.9
and41.145.74.63.244.71.33.75.5
Infill1105139.641.11.51.346.04.76.311.0Santa Barbara
Infill1105494.996.01.10.649.04.55.49.9Santa Barbara
and102.1106.44.32.014.00.04.95.2
and111.3114.33.02.310.00.15.45.6
and121.9129.77.84.519.90.45.46.1
including121.9123.11.20.751.00.415.416.5
including123.1126.53.41.95.80.12.12.2
including126.5129.73.21.822.80.85.26.1
and139.8141.61.91.132.02.02.74.9
and145.7147.51.81.324.00.93.04.1
Infill1105744.045.71.71.230.02.05.77.8Santa Barbara
Infill1105960.163.13.03.063.15.07.712.9Santa Barbara
including60.161.71.61.630.02.44.57.0
including61.763.11.41.4102.08.011.519.8
and68.971.32.41.6134.82.56.710.9
including68.970.41.51.0191.01.88.312.7
including70.471.30.90.641.03.64.27.9
Infill11035308.8309.70.90.97.00.04.34.4Santa Elena
Infill1105036.340.84.54.556.60.79.110.6Palmar Dyke
including36.338.11.81.897.00.92.85.0
including38.139.71.61.612.00.12.83.1
including39.740.81.11.155.01.429.531.6
and46.757.210.410.4115.24.84.610.4
including46.747.91.11.145.02.13.15.5
including47.949.21.41.413.00.70.71.5
including49.251.82.52.5154.08.09.618.7
including51.856.44.74.741.61.51.33.3
including56.457.20.70.7781.027.218.053.1
Infill1105236.537.40.90.9289.04.77.516.0Palmar Dyke
and40.041.11.11.1204.00.90.94.8
and42.751.38.78.7100.14.76.712.2
including42.744.51.81.859.02.37.110.0
including44.548.84.34.3126.45.67.714.4
including48.851.32.62.685.54.74.910.2
Infill1106525.638.312.612.6735.25.15.921.7Palmar Dyke
including25.627.11.51.53518.014.916.984.7
including27.131.44.34.3785.53.92.217.8
including31.435.74.34.35.00.10.10.3
including35.738.32.62.6218.09.515.126.5
Infill1106912.217.25.03.8120.74.14.69.9Palmar Dyke
including12.213.71.51.2256.02.22.68.5
including13.717.23.52.661.45.05.510.6
Infill1107147.948.80.90.9280.09.621.133.6Palmar Dyke
Infill1107229.031.62.62.675.02.55.38.5Palmar Dyke
including29.029.40.40.4313.09.524.036.8
including29.431.62.22.232.01.21.93.4
and41.143.62.42.4163.05.72.29.5
and100.6103.63.03.046.02.41.54.3
Infill1107534.737.52.82.8144.96.15.613.0Palmar Dyke
and42.747.54.94.971.32.93.06.6
and49.452.73.43.4106.55.44.710.9
and53.856.12.32.337.01.42.54.2
and71.693.321.721.793.64.75.110.5
including71.676.85.25.253.22.73.26.2
including76.878.01.21.222.00.91.12.2
including78.080.82.72.7141.76.66.814.5
including80.883.83.03.035.41.72.14.2
including83.885.31.51.5284.015.99.827.6
including85.386.91.51.573.03.03.87.4
including86.990.23.43.4172.98.610.920.9
including90.293.33.13.134.82.03.05.2
Infill110296.410.23.83.7378.215.626.845.9Nueva Este
and18.720.11.41.4140.05.21.47.9
and97.0102.15.15.0112.61.82.45.6
including97.0100.63.63.592.21.31.64.2
including100.6102.11.51.5161.02.84.29.0
and103.3104.91.51.52850.011.419.774.0
Infill110333.09.16.16.194.61.91.54.6Nueva Este
including3.05.82.72.753.01.61.73.8
including5.89.13.43.4128.62.21.35.2
and115.2116.71.51.5319.00.20.25.4
Infill1103728.429.91.41.4459.014.14.623.6Nueva Este
and89.190.81.81.81168.01.42.221.7
and93.3119.826.526.5197.11.73.58.1
including93.395.11.81.8115.01.11.64.3
including95.196.00.90.9407.01.53.611.3
including96.097.81.81.86.00.00.00.1
including97.899.71.81.8132.03.65.010.1
including99.7103.64.04.018.80.40.51.1
including103.6107.03.43.3222.01.31.66.1
including107.0110.63.73.6614.04.714.728.2
including110.6111.60.90.9598.02.14.415.5
including111.6112.81.21.288.00.10.11.6
including112.8114.31.51.5155.02.82.27.0
including114.3117.02.72.735.00.40.41.3
including117.0119.82.72.7124.72.03.06.6
Infill1104169.877.37.57.1108.13.65.810.6Nueva Este
including69.871.31.51.431.02.33.25.7
including71.372.51.21.216.00.90.51.5
including72.573.91.41.3218.010.623.335.7
including73.975.31.41.336.00.10.20.8
including75.377.32.01.9198.03.83.09.3
Infill11046No Significant InterceptsNueva Este
Infill1105346.647.81.21.1201.00.60.64.3Nueva Este
and110.7130.820.018.7196.24.49.215.9
including110.7114.33.63.399.11.62.45.3
including114.3117.33.02.830.00.60.11.1
including117.3118.91.51.4233.03.39.916.3
including118.9122.43.53.3299.15.017.426.3
including122.4124.62.22.1187.01.82.97.3
including124.6125.00.40.35.00.10.10.2
including125.0126.81.81.7162.05.622.029.3
including126.8128.31.51.4215.02.83.08.7
including128.3130.82.42.3426.016.419.339.7
Infill1105879.499.420.019.5237.43.33.910.4Nueva Este
including79.480.81.41.3250.01.52.47.5
including80.882.31.51.539.01.81.33.4
including82.386.64.34.2113.43.43.58.2
including86.688.41.81.87.00.10.10.2
including88.494.56.16.0136.32.31.75.8
including94.596.31.81.8356.04.64.313.7
including96.397.51.21.2114.02.25.08.6
including97.599.41.81.81214.011.618.247.0
* True Thickness and apparent widths are estimates. 
** Price assumptions used were US$1.21/lb Zn, US$1.06/lb Pb and US$18/troy oz Ag. Zinc equivalent metal grade (ZnEq. %) was calculated as follows:  Zn% +(Pb x 0.82) +(Ag g/t x 0.0149) = ZnEq% and is based on 88.9% Zn recovery, 74.3% Pb recovery and 77.7% Ag


Table 2: Collar Table

    UTM Coordinates (WGS84Z16N)   
AreaDrill Hole CategoryMine Level (ft)DDH No.Easting (m)Northing (m)Elev. (m)Azi.Incl.Length (m)
VictoriaStep Out279011001384,3781,642,145111129-45242.3
Santa ElenaStep Out268011003383,3701,642,801125149-75321.0
Port Royal MantoInfill245011004382,3021,642,354193290-33176.2
VictoriaStep Out279011007384,3751,642,144111180-46208.8
Santa ElenaStep Out268011008383,3691,642,800125179-59310.0
Santa ElenaStep Out268011011383,3691,642,800125180-78294.4
Santa ElenaStep Out268011016383,3711,642,80512640-44721.2
Port Royal MantoInfill244911019382,3051,642,35619225-4597.8
Port Royal MantoInfill245011021382,3061,642,35519259-5088.4
Port Royal MantoInfill245011022382,3051,642,35519260-43107.3
Port Royal MantoInfill245011024382,3091,642,35419289-36149.4
Santa ElenaStep Out268011025383,3721,642,80412569-40564.8
PorvenirStep Out279011026384,1361,642,30610527-41321.9
Santa BarbaraInfill325011027383,1411,642,586-38321-2498.8
Santa BarbaraInfill325011028383,1411,642,586-38318-4467.1
Nueva EsteInfill210011029384,0621,642,10229275-10134.1
Santa BarbaraInfill325011030383,1421,642,586-38341-3587.5
Santa BarbaraInfill325011031383,1421,642,587-38345-6457.9
PorvenirStep Out279011032384,1391,642,30910628-33463.3
Nueva EsteInfill210011033384,0621,642,102292750133.2
Santa BarbaraInfill325011034383,1381,642,586-39296-4256.4
Santa ElenaInfill268011035383,3691,642,803125218-70320.0
Santa BarbaraInfill325011036383,1371,642,587-38294-2360.4
Nueva EsteInfill210011037384,0611,642,10229283-9155.4
Santa BarbaraInfill325011038383,1401,642,584-38274-6541.1
Santa ElenaStep Out268011039383,3691,642,806126352-42545.3
Santa BarbaraInfill325011040383,1401,642,584-38271-4243.3
Nueva EsteInfill210011041384,0611,642,10229182-22267.6
Santa BarbaraInfill325011042383,1411,642,584-38291-7946.9
Santa BarbaraInfill325011043383,1441,642,583-37113-4097.5
Santa ElenaStep Out268011044383,3721,642,80512640-50630.0
Santa BarbaraInfill325011045383,1431,642,584-3794-5864.0
Nueva EsteInfill210011046384,0611,642,10229092-32108.2
Santa BarbaraInfill325011047383,1431,642,583-37159-5850.3
Santa BarbaraInfill325011048383,1421,642,582-38179-3654.9
PorvenirStep Out279011049384,1401,642,30910537-41292.6
Palmar DykeInfill210011050384,1901,642,22429464-175.3
Santa BarbaraInfill325011051383,1411,642,582-38209-3151.5
Palmar DykeInfill210011052384,1871,642,22529452-161.0
Nueva EsteInfill210011053384,0611,642,102292968143.3
Santa BarbaraInfill325011054383,1441,642,586-3733-40158.5
PorvenirStep Out279011055384,1401,642,30910636-32422.1
Santa ElenaStep Out268011056383,3671,642,804126290-32387.1
Santa BarbaraInfill325011057383,1381,642,582-38243-1756.4
Nueva EsteInfill210011058384,0621,642,10229177-13134.1
Santa BarbaraInfill325011059383,1451,642,585-3764-49107.0
PorvenirStep Out279011061384,1381,642,30910612-36363.6
San JuanStep Out116011062382,8781,642,05358421759161.5
Santa ElenaStep Out268011063383,3731,642,802125108-48451.1
Palmar DykeInfill210011065384,1931,642,23229437-148.2
Palmar DykeInfill210011069384,1931,642,232297364530.5
Palmar DykeInfill210011071384,1931,642,23229436-2166.4
Palmar DykeInfill210011072384,2311,642,21929592-1106.7
Palmar DykeInfill210011075384,2311,642,2182951050106.7



Quality Assurance and Quality Control

Analytical work was carried out by Bureau Veritas Commodities Canada Ltd. (ACME), Vancouver, Canada.  Drill core samples were prepared in Bureau Veritas’s laboratory in Guatemala City, Guatemala. Pulp samples were then sent to their analytical Laboratory in Vancouver, Canada. All samples were analyzed for zinc, Lead, copper, iron and silver values determined by method code AR402 atomic absorption spectrometry, and any over limit values were determined using method code FA410. Bureau Veritas has routine quality control procedures which ensure that every batch of 40 prepared samples includes three sample repeats, two commercial standards and blanks. Bureau Veritas is independent from Ascendant. Ascendant used standard QA/QC procedures, when inserting blanks, for the drilling program.

Qualified Persons

The scientific and technical information in this press release has been reviewed and approved by Patrick E. Toth, P.Geo., Director Exploration to Ascendant and a Qualified Person as defined by National Instrument 43-101.

About Ascendant Resources Inc.

Ascendant is a Toronto-based mining company focused on its flagship 100%-owned producing El Mochito zinc, lead and silver mine in west-central Honduras, which has been in production since 1948. After acquiring the mine in December 2016, Ascendant spent 2017 implementing a rigorous and successful optimization program restoring the historic potential of El Mochito delivering record levels of production with profitability restored. The Company now remains focused on cost reduction and further operational improvements to drive robust profitability in 2018 and beyond. Expanding and upgrading El Mochito’s significant Mineral Resources through exploration work for near-mine growth is an ongoing focus for the Company. With a significant land package of 11,000 hectares in Honduras and an abundance of historical data, there are several regional targets providing longer term exploration upside which could lead to further resource growth.

Ascendant also holds an interest in the high-grade polymetallic Lagoa Salgada VMS Project located in the prolific Iberian Pyrite Belt in Portugal. The Company is engaged in exploration of the Project with the goal of expanding already substantial defined Mineral Resources and testing additional known targets. The Company’s acquisition of its interest in the Lagoa Salgada Project offers a low-cost entry point to a potentially significant exploration and development opportunity. The Company holds an additional option to increase their interest in the Project upon completion of certain milestones.

Ascendant Resources is engaged in the ongoing evaluation of producing and development stage mineral resource opportunities, on an ongoing basis. The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "ASND". For more information on Ascendant Resources, please visit our website at www.ascendantresources.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.

For further information please contact:

Katherine Pryde
Director, Communications & Investor Relations
Tel: 888-723-7413
info@ascendantresources.com

Cautionary Notes to US Investors

The information concerning the Company’s mineral properties has been prepared in accordance with National Instrument 43-101 (“NI-43-101”) adopted by the Canadian Securities Administrators. In accordance with NI-43-101, the terms “mineral reserves”, “proven mineral reserve”, “probable mineral reserve”, “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) Definition Standards for Mineral Resources and Mineral Reserves adopted by the CIM Council on May 10, 2014. While the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are recognized and required by NI 43-101, the U.S. Securities Exchange Commission (“SEC”) does not recognize them. The reader is cautioned that, except for that portion of mineral resources classified as mineral reserves, mineral resources do not have demonstrated economic value. Inferred mineral resources have a high degree of uncertainty as to their existence and as to whether they can be economically or legally mined. It cannot be assumed that all or any part of any inferred mineral resource will ever be upgraded to a higher category. Therefore, the reader is cautioned not to assume that all or any part of an inferred mineral resource exists, that it can be economically or legally mined, or that it will ever be upgraded to a higher category. Likewise, you are cautioned not to assume that all or any part of a measured or indicated mineral resource will ever be upgraded into mineral reserves.

Readers should be aware that the Company’s financial statements (and information derived therefrom) have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board and are subject to Canadian auditing and auditor independence standards. IFRS differs in some respects from United States generally accepted accounting principles and thus the Company’s financial statements (and information derived therefrom) may not be comparable to those of United States companies.

Forward Looking Information
           
This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "budget", "guidance", "scheduled", "estimates", "forecasts", "strategy", "target", "intends", "objective", "goal", "understands", "anticipates" and "believes" (and variations of these or similar words) and statements that certain actions, events or results "may", "could", "would", "should", "might" "occur" or "be achieved" or "will be taken" (and variations of these or similar expressions). Forward-looking information is also identifiable in statements of currently occurring matters which may continue in the future, such as "providing the Company with", "is currently", "allows/allowing for", "will advance" or "continues to" or other statements that may be stated in the present tense with future implications. All of the forward-looking information in this news release is qualified by this cautionary note.

Forward-looking information in this news release includes, but is not limited to, statements regarding the opportunity for reserves and resources conversion and growth through exploration, the increase in head grade and value per tonne mined and the exploration activities in 2019. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Ascendant at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Ascendant identified and were applied by Ascendant in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to, the ability to increase the feed and the ability to expand resources and grades at the Mine, the ability to continue with exploration activities in 2019 and other events that may affect Ascendant's ability to develop its project; and no significant and continuing adverse changes in general economic conditions or conditions in the financial markets.

The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation), uncertainties related to the development and operation of Ascendant's projects, the continuance of exploration activities in 2019, dependence on key personnel and employee and union relations, risks related to political or social unrest or change, rights and title claims, operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure against all risks, failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, compliance with government and environmental regulations, including permitting requirements and anti-bribery legislation, volatile financial markets that may affect Ascendant's ability to obtain additional financing on acceptable terms, the failure to obtain required approvals or clearances from government authorities on a timely basis, uncertainties related to the geology, continuity, grade and estimates of mineral reserves and resources, and the potential for variations in grade and recovery rates, uncertain costs of reclamation activities, tax refunds, hedging transactions, as well as the risks discussed in Ascendant's most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities and available at www.sedar.com.

Should one or more risk, uncertainty, contingency, or other factor materialize, or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, the reader should not place undue reliance on forward-looking information. Ascendant does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

Figure 1