Silver Coin

In August 2018, Ascot entered into an agreement to purchase 100% interest in the Silver Coin project, located immediately adjacent to Ascot’s Big Missouri project in northwestern British Columbia, with the successful final closing completed on October 26, 2018. Material, with an average grade of 9.28g/t AuEq from the Silver Coin property was successfully mined and processed in the early 1990s at the Premier mill. The project’s proximity to Ascot’s infrastructure and the known metallurgical characteristics create key synergies with Ascot’s existing resources.

Highlights of the Silver Coin Property

  • Property area of 1,470 hectares, increasing Ascot’s land position to 8,039 hectares
  • Approximately 244,000 AuEq1 ounces of high-grade resources with significant exploration upside that adjoins the Ascot Property boundary and facilitates exploration on the unified ownership of the Big Missouri ridge
  • Located immediately adjacent to Ascot’s Big Missouri project with access to the Big Missouri haul road
  • Similar ore type/mineralization as Ascot’s current resources
  • Extensive pre-existing underground infrastructure with side hill portal
  • Property is located ~8 kilometres by road from the Premier mill
  • Silver Coin ore was previously processed at the Premier mill with known metallurgical characteristics for processing at Ascot’s mill

Silver Coin is an advanced-stage, gold-silver property located 25 kilometres north of Stewart, B.C., 800 metres from Ascot’s Big Missouri project and 8 kilometres away from the Premier mill. Mineralization is characterized as epithermal gold-silver deposit with base metal sulfide-bearing breccias and veins similar to those mined at the Premier Mine. The total mineral resource estimate for the high-grade core consists of 702,000 tonnes grading 4.46 g/t Au in the indicated category and 967,000 tonnes grading 4.39 g/t Au in the inferred category as set forth in the report entitled “NI 43-101 Technical Report on the Silver Coin Project, August 2013” prepared for Jayden by Mining Plus Canada with an effective date of August 23, 2013. The resource estimate was stated at a cut-off grade of 2 g/t Au. In 1991, Westmin Resources mined the Facecut-35 zone and extracted 102,539 tonnes of material grading 8.9g/t Au and 55.5g/t Ag for an equivalent grade of 9.28g/t AuEq. The gold recovery for this material was 92.9% and the silver recovery was 45.7%1. Certain claims, which are not part of the existing resource are subject to a 2% net smelter return royalty.

The project has room for expansion of the mineralized zones and significant exploration potential for additional zones. Ascot is currently working on a resource update for the Silver Coin property.

1 2013 Mining Plus Jayden Resources Inc. NI 43-101 Report, pg. 28

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