Ascot Resources Ltd.: Premier/Dilworth Option Agreements Extended to 2014
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/12/12 -- Ascot Resources Ltd. (TSX VENTURE: AOT) is pleased to announce that its Premier and Dilworth option agreements have been extended by one year, the latest Closing Date now becomes October 1, 2014. In order to maintain its options until 2014, Ascot will have to make option payments in 2013 on the agreement anniversary dates, $900,000 for the Premier and $600,000 for the Dilworth. The final option payments due in 2014 will be reduced by $1.4 million.
Ascot commenced drilling for 2012 in early May. At the same time, the Company announced an initial independent resource estimate for part of the Big Missouri area of the Premier property.
The focus of the 2012 program will be to better define known areas of higher grade gold intersections both within the Big Missouri area and other parts of the property with historic resources.
The Company's proposed financing announced June 4, 2012 has been terminated due to market conditions.
ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.
John A. Toffan, President and Director
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release regarding 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. 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. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Contacts:
Ascot Resources Ltd.
Bob Evans
(604) 684-8950
(604) 684-9877 (FAX)
www.ascotresources.ca
