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TORONTO, Feb. 27, 2020 (GLOBE NEWSWIRE) — Ascendant Assets Inc. (TSX: ASND) (“Ascendant” or the “Company”) announces the filing of the Abstruse Address entitled, “Technical Address and PEA for the Lagoa Salgada Property, Setúbal District, Portugal”, acknowledging the able-bodied after-effects from the beginning Basic Bread-and-butter Appraisal (“PEA”) for the North Zone at the Lagoa Salgada VMS activity amid on the Iberian Pyrite Belt in Portugal. The Abstruse Address has an able date of December 19, 2019 and was able in accordance with Canadian National Instrument 43-101 (“NI 43-101”) “Standards of Disclosure for Mineral Projects”.

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PEA Overview

Highlights of the key activity metrics are provided in the afterward table on a 100% basis:

PEA Key Highlights

Notes to Table:1 The activity economics accept been affected application accord prices at the time of the Adeptness Appraisal address in September 2019.

The PEA was able by AMC Mining Consultants (Canada) Ltd (AMC) with contributions from Adeptness Development Inc (RDI) for Mineral Processing and Micon International Bound (Micon), who estimated the Mineral Resources.

The PEA is basic in nature, as it includes Inferred Mineral Assets that are brash too abstract geologically to accept the bread-and-butter considerations activated to them that would accredit them to be categorized as Mineral Reserves, and there is no authoritativeness that the basic bread-and-butter appraisal will be realized.

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The Abstruse Address is accessible for assay beneath the Company’s contour on SEDAR and on the Company’s website.

Technical Disclosure

The clairvoyant is brash that the PEA abbreviated in this columnist absolution is advised to accommodate alone an initial, high-level assay of the activity abeyant and architecture options. The PEA affluence plan and bread-and-butter archetypal accommodate abundant assumptions and the use of Inferred Mineral Resources. Inferred Mineral Assets are brash to be too abstract to be acclimated in an bread-and-butter assay except as accustomed for by Canadian Balance Administrators’ National Instrument 43-101 in PEA studies.

Qualified Persons

This PEA was able for Ascendant Assets Ltd by AMC and added industry consultants, all Able Persons (“QP”) beneath National Instrument 43-101. The accurate and abstruse advice in this columnist absolution has been advised by the afterward QPs as declared below:

Review of Abstruse Information

The accurate and abstruse advice in this columnist absolution has been advised and accustomed by Robert Campbell, P.Geo., Vice President, Analysis and Director for Ascendant Assets Ltd, who is a Able Persons as authentic in National Instrument 43-101.

About Ascendant Assets Inc.

Ascendant is a Toronto-based mining aggregation focused on its 100%-owned bearing El Mochito zinc, advance and argent affluence in Honduras and its high-grade Lagoa Salgada VMS activity amid in the abounding Iberian Pyrite Belt in Portugal.

After accepting the El Mochito affluence in December 2016, Ascendant spent two years implementing a accurate and acknowledged access affairs abating the celebrated abeyant of El Mochito, a affluence in assembly back 1948, to bear almanac levels of assembly with advantage restored. With abiding accompaniment assembly achieved, the Aggregation was able to drive added metal assembly advance in 2019 as it focused on brand improvements and now charcoal focused on added amount abridgement and operational improvements to drive advantage in 2020. Given the cogent acreage amalgamation of about 11,000 hectares in Honduras and an affluence of absolute data, there are several near-mine and bounded targets accouterment best appellation analysis upside which could advance to added Mineral Adeptness growth. 

The Aggregation is affianced in analysis and the advance of the Lagoa Salgada activity with the ambition of architecture aloft the authentic Mineral Assets and able-bodied after-effects of the beginning Basic Bread-and-butter Appraisal completed in January 2020 and advancing the activity appear construction. Ascendant holds a 21.25% absorption in the Lagoa Salgada activity through its 25% position in Redcorp – Empreendimentos Mineiros, Lda, (“Redcorp”) and has an earn-in befalling to access its absorption in the activity to 80%. Mineral & Banking Investments Bound owns the added 75% of Redcorp. The absolute 15% of the activity is captivated by Empresa de Desenvolvimento Mineiro, S.A. (EDM), a Portuguese Government endemic aggregation acknowledging the cardinal development of the country’s mining sector. The Company’s absorption in the Lagoa Salgada Activity offers a bargain access to a potentially cogent analysis and development opportunity, already demonstrating its mineable scale.

Ascendant Assets is additionally affianced in the advancing appraisal of bearing and development date mineral adeptness opportunities, on an advancing basis. The Corporation’s accepted shares are principally listed on the Toronto Stock Exchange beneath the attribute “ASND”. For added advice on Ascendant Resources, amuse appointment our website at www.ascendantresources.com.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that appellation is authentic in the behavior of the TSX) accepts albatross for the capability or accurateness of this release.

For added advice amuse contact:Katherine PrydeDirector, Communications & Investor RelationsTel: [email protected]

Forward Looking Information

This account absolution contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking information”) aural the acceptation of applicative Canadian balance legislation. All advice independent in this account release, added than statements of accepted and absolute fact, is advanced information. Often, but not always, advanced advice can be articular 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 agnate words) and statements that assertive actions, contest or after-effects “may”, “could”, “would”, “should”, “might” “occur” or “be achieved” or “will be taken” (and variations of these or agnate expressions). Advanced advice is additionally identifiable in statements of currently occurring affairs which may abide in the future, such as “providing the Aggregation with”, “is currently”, “allows/allowing for”, “will advance” or “continues to” or added statements that may be declared in the present close with approaching implications. All of the advanced advice in this account absolution is able by this cautionary note.

Forward-looking advice in this account absolution includes, but is not bound to, statements apropos the analysis activities and the after-effects of such activities at the Lagoa Salgada Project, the abeyant to aggrandize mineralization and access mineral assets and the abeyant to abide advancing and architecture amount at the Lagoa Salgada Project. Advanced advice is based on, amid added things, opinions, assumptions, estimates and analyses that, while brash reasonable by Ascendant at the date the advanced advice is provided, inherently are accountable to cogent risks, uncertainties, contingencies and added factors that may account absolute after-effects and contest to be materially altered from those bidding or adumbrated by the advanced information. The absolute factors or assumptions that Ascendant articular and were activated by Ascendant in cartoon abstracts or authoritative forecasts or projections set out in the advanced advice include, but are not bound to, the success of the analysis activities at Lagoa Salgada Project, the adeptness of the analysis after-effects to aggrandize mineralization and access mineral resources, the adeptness to abide advancing and architecture amount at the Lagoa Salgada Activity and added contest that may affect Ascendant’s adeptness to advance its project; and no cogent and continuing adverse changes in accepted bread-and-butter altitude or altitude in the banking markets.

The risks, uncertainties, contingencies and added factors that may account absolute after-effects to alter materially from those bidding or adumbrated by the advanced advice may include, but are not bound to, risks about associated with the mining industry, such as bread-and-butter factors (including approaching article prices, bill fluctuations, activity prices and accepted amount escalation), uncertainties accompanying to the development and operation of Ascendant’s projects, assurance on key cadre and agent and abutment relations, risks accompanying to political or amusing agitation or change, rights and appellation claims, operational risks and hazards, including hasty environmental, automated and geological contest and developments and the disability to assure adjoin all risks, abortion of plant, equipment, processes, busline and added basement to accomplish as anticipated, acquiescence with government and ecology regulations, including allowing requirements and anti-bribery legislation, airy banking markets that may affect Ascendant’s adeptness to access added costs on adequate terms, the abortion to access appropriate approvals or clearances from government authorities on a appropriate basis, uncertainties accompanying to the geology, continuity, brand and estimates of mineral affluence and resources, and the abeyant for variations in brand and accretion rates, ambiguous costs of affirmation activities, tax refunds, ambiguity transactions, ambiguity accompanying to the after-effects of the Company’s analysis activities at the Lagoa Salgada Project, as able-bodied as the risks discussed in Ascendant’s best contempo Anniversary Advice Form on book with the Canadian bigoted balance authoritative authorities and accessible at www.sedar.com.

Should one or added risk, uncertainty, contingency, or added agency materialize, or should any agency or acceptance prove incorrect, absolute after-effects could alter materially from those bidding or adumbrated in the advanced information. Accordingly, the clairvoyant should not abode disproportionate assurance on advanced information. Ascendant does not accept any obligation to amend or alter any advanced advice afterwards the date of this account absolution or to explain any absolute aberration amid consecutive absolute contest and any advanced information, except as appropriate by applicative law.

 

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