Ascendant Resources Inc.

We are dedicated to unlocking the potential of our Lagoa
Salgada VMS project in Portugal's prolific Iberian Pyrite Belt.
This high-grade polymetallic endeavour boasts zinc, copper,
lead, tin, silver, and gold. With vast exploration potential on
our expansive 7,209-hectare property, Lagoa Salgada promises opportunities near the deposit and step-out targets.

We are excited for the upcoming year as we embark on a journey to complete an optimized feasibility study report. With an Enhanced metallurgy and refined mine sequencing set to unfold in Q2/2024.

To keep up with company updates sign up for our mailing list:
https://bit.ly/3URN0NO

$ASND

Mark Brennan, Ascendant's Executive Chairman, shares insights, "In conjunction with the recently announced US$4 million funding by Sprott Resources Streaming and Royalty Corp. ("Sprott Streaming"), we are raising additional funds to take Lagoa Salgada to construction funding which is expected by the end of the third quarter of 2024… We believe the Lagoa Salgada project has the strong funding support to make it the next producing mine on the Iberian Pyrite Belt"

This funding realized through the issuance of 34.7 million common shares at C$0.08 per share, plays a pivotal role in advancing our initiatives. Net proceeds will drive an optimized feasibility study, enhance metallurgy, refine mine sequencing, and support project financing. We extend our sincere appreciation to our investors for their continued support.

Read the full report here: https://bit.ly/48KZJYJ

$ASND

Ascendant holds an 80% interest in the Lagoa Salgada project
through its association with Redcorp - Empreendimentos Mineiros, Lda. ("Redcorp"). The Company's common shares are prominently listed on the Toronto Stock Exchange under the symbol "ASND."

With our Lagoa Salgada project positioned a mere 80km from Lisbon, we have a cost-effective gateway into a significant exploration and development venture, already revealing its mineable scale and potential for cash flow generation.

Keep up with all our latest news. Sign up for our mailing list:
https://bit.ly/3URN0NO

$ASND

We are very pleased to provide a summary of the significant milestones achieved during 2023 and look forward to another year of continued de-risking and key value creation objectives in 2024 for our Lagao Salgada polymetallic project in Portugal.

Read the full release here: https://bit.ly/3Edbbi9

$ASND

Ascendant has submitted the Environmental Impact Assessment Report ("EIA") for the Lagoa Salgada VMS Project to the Portuguese Environmental Authority

Read here for more details on the permitting timeline! https://bit.ly/3Edbbi9

$ASND

The Feasibility study's test work has established a solid
foundation for further optimization at Lagoa Salgada, revealing
potential opportunities for enhancement. The primary
emphasis for optimization will be on the North Massive
Sulphide and South Stockwork ore types, individually and in
blends, to maximize metal recovery and meet product
specifications, especially with regard to iron content, as well
as managing mercury and arsenic levels. The blending of
feeds or concentrates will play a vital role in the optimization
process.

Keep up with all our latest news. Sign up to our mailing list:
https://bit.ly/3URN0NO

$ASND

Our Feasibility study's test work at Lagoa Salgada has laid a
robust foundation for future optimization, revealing the
potential for further enhancements. The optimization
campaign is not just about enhancing recovery rates; it
encompasses geo-metallurgical considerations, tailored
reagent regimes, flowsheet optimization, target grind
optimization, and the management of deleterious elements.
This comprehensive approach ensures that our project aligns
with the economic model.

Keep up with all our latest news. Sign up to our mailing list:
https://bit.ly/3URN0NO

$ASND

Copper prices in London hit an 8-week high, driven by a
weaker dollar and rising demand expectations. This follows
China's pledge to bolster its property sector, a major consumer
of copper and other base metals. Strengthening this sector is
expected to bolster overall demand for these metals.

Read the full report here:
https://bit.ly/46RPBMk

$ASND

Santander is a well-respected global institution with extensive experience in ECA financing, a significant presence in Portugal and a longstanding relationship with UKEF.

Read more here: https://bit.ly/3Edbbi9

$ASND

According to the International Energy Agency (IEA), there will be increased demand for mining products to achieve global emissions-reduction targets. This will include a heightened requirement for copper, which plays a key role in enabling electrification and renewable energy. Additionally, it is integral in the production of transmission lines and electrical components.

Read the full report from PwC here: https://pwc.to/3Oy0LgT

This morning we closed the transaction to amend the stream agreement with Sprott Streaming for an additional US$4 million funding to further optimize development of the Lagoa Salgada VMS project!

Read more here: https://bit.ly/3RsCI71

$ASND

We are pleased to welcome Mr. Val Coetzee to the technical team as Director, Process Engineering. His significant experience in design, metallurgy, and process optimization will be a great addition to further our aim to optimize the process design and flow sheet for the Lagoa Salgada project as we move the project toward a final development decision.

Keep up with all our latest news. Sign up to our mailing list: https://bit.ly/41F2xmn

We are very pleased to announce that we are finalizing an amendment to the existing metals purchase and sale agreement with Sprott Streaming, including an increased deposit of US$4 million.

Read more about the agreement in our latest press release here: https://bit.ly/3SLnXgv

$ASND

Our Lagoa Salgada Project represents a low-cost entry opportunity to gain exposure to a known, high-grade VMS deposit that has significant exploration potential to expand the resource in the near term.

John Feneck of Feneck Consulting recently visited the site. He shares insights on our management and how this grant will accelerate the project's progress on Investing News.

Listen to the whole interview here: https://bit.ly/47oKO5Q

The US Department of Energy (DOE) adds copper to its critical materials list recognizing it as a critical mineral for clean energy technologies. The list concentrates on crucial materials that carry a substantial risk of supply disruption and are essential components of clean energy technologies.

CEO of Copper Development Association, Andrew Kireta Jr. says, “The nation would be defenseless without electricity and copper’s vital role in its generation, transmission, and distribution.”

Read the whole article here: https://bit.ly/3RQToWn

We are pleased to announce that following a successful and oversubscribed tender process, we have selected an international bank to act as the Mandated Lead Arranger for our Export Credit Agency Supported Non-Recourse Project Financing at our Lagoa Salgada Project in Portugal.

Read the full press release here: https://bit.ly/3tuvLIT

According to S&P Global Market Intelligence, the demand for refined copper is projected to nearly double from 25 million MT in 2021 to 49 million MT by 2035. This substantial growth can be attributed to copper's useful properties, making it ideal in various industries, such as construction and electronics. Notably, one of the most copper-intensive markets of the 21st century is energy storage. As the world embraces the electric future, copper stands at the forefront of this transformation.

Read the whole article here: https://bit.ly/3FfseRi

We are pleased to announce that it has strengthened its technical team with the addition of Mr. Val Coetzee who has been appointed as Director, Process Engineering. Mr. Coetzee will work with the rest of the technical team to enhance the delivery of the Lagoa Salgada project to optimize the process flow sheet and design as the company moves towards project development.

Learn More: https://bit.ly/3QlkiUU

We prioritize simplicity in our project development approach.

Our proposed underground mine design incorporates a main decline, which then splits into two independent declines. This strategic layout allows for efficient operations in each mine zone, namely the North and South.

Learn more about our development plans including our metallurgy which is well advanced and in the optimization phase: https://bit.ly/3DY5CWc

Have you signed up for our newsletter yet?

Stay informed about the latest developments at Ascendant Resources, including our prosperous Lagoa Salgada VMS Project located on the prolific Iberian Pyrite Belt. We have lots of exciting exploration and development operations coming up.

Sign up here to stay in the know: https://bit.ly/41F2xmn

Ascendant Resources is excited to share our roadmap for near-term optimization. Now that we have satisfied the requirements to earn 80% interest in our project, we will use the additional time to enhance the feasibility study before commencing development work over the next six months.

Our focus areas include:
- Optimize mine ore sequencing to maximize revenues in the initial years
- Optimization of the mining and processing rate to optimize NPV and IRR
- Undertake further metallurgical test work to enhance metal recoveries above those already achieved in tests to date

Keep up with all the latest news by subscribing to our newsletter: https://bit.ly/41F2xmn

Did you catch our Executive Chairman, Mark Brennan, on Crux Investor?

Engaging discussions were had about the future of our Lagoa Salgada project and the recent 2023 Definitive Feasibility Study we released.

In case you missed it, you can watch the interview here: https://bit.ly/3sxr4Oa

Ascendant Resources Inc. is pleased to announce that it has completed the initial NI 43-101 compliant Feasibility Study for the Lagoa Salgada Project, and has satisfied all conditions to fully exercise the earn-in option on the Project. As a result, Ascendant now holds an 80% interest in the Lagoa Salgada Project through Redcorp Empreedimentos Mineiros Lda.

Read the full press release: https://bit.ly/47gNHq6