ASCENDANT RESOURCES PROVIDES CORPORATE UPDATE IN LIGHT OF MARKET ACTIVITY

TORONTO, March 11, 2020 (GLOBE NEWSWIRE) -- Ascendant Resources Inc. (TSX: ASND) ("Ascendant" or the "Company”) is pleased to provide an update on corporate and operational activities given recent market volatility in both commodity prices and equity valuations.

As the Company announced on February 12, 2020, our El Mochito mine in Honduras delivered its best quarter of production since its acquisition in December 2016, producing 29.4 million pounds of ZnEq contained metal, comprised of 16.5 million pounds of zinc, 7.7 million pounds of lead and 394 thousand ounces of silver. Management has been successful at reducing operating costs and increasing head grades for the past twelve quarters, and we believe there are still opportunities to balance these in a reduced metals price environment. Our financial partners remain flexible and supportive of our operations, giving us confidence in the financial liquidity of the Company. Activities to secure project financing for the expansion and optimization project at El Mochito have increased this quarter, and based on this progress, management is hopeful to have definitive direction early in the second quarter.

The Company continues to field significant interest in the Lagoa Salgada project from the investment community, given the robust economics of the project’s Preliminary Economic Assessment, announced on January 14, 2020. This is being largely discounted by the market but will be a material source of growth for the Company in the coming quarters. There are multiple pathways forward for the project, and management is advancing discussions with several financial parties to that end.

Ascendant plans to release fourth quarter and full year 2019 financial results after market close on March 25, 2020. Please join us on our conference call on March 26, 2020, at 10:00am EDT to discuss fourth quarter and full year 2019 operational and financial results.

Conference Call Details:
Date of Call: Thursday, March 26, 2020
Time of Call: 10:00am EDT
Conference ID: 3529486
Dial-In Numbers:
North American Toll-Free: 1-833-696-8362
International: 1-612-979-9908

About Ascendant Resources Inc.

Ascendant is a Toronto-based mining company focused on its 100%-owned producing El Mochito zinc, lead and silver mine in Honduras and its high-grade Lagoa Salgada VMS project located in the prolific Iberian Pyrite Belt in Portugal.