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Ascendant Resources Inc.

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Summary

Project:

El Mochito

Deposit:El Mochito
Location:Honduras
Commodities:Zinc-Lead-Silver
Date:10/31/2018
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Active Mining & Production
Report details:31-10-2018: Ascendant Resources Inc. announces an Exploration/Drilling Update report for its El Mochito deposit at the El Mochito project. Drilling results incl. 18.7m @ 196.2g/t Au, 4.4% Pb, 9.2% Zn from 110.7m. TORONTO, Oct. 31, 2018 -- Ascendant Resour
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Patrick E. Toth (Internal)
ABSTRACT:TORONTO, Oct. 31, 2018 -- 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 highergrade deposits at El Mochito. 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.”

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