Ascendant Resources Intersects 17.6 Metres of 5.3% Zinc, 3.8% Lead and 83 g/t Silver at El Mochito Mine, Honduras

TORONTO, ONTARIO--(Marketwired - June 26, 2017) - Ascendant Resources Inc. (TSX VENTURE: ASND)(FRANKFURT:2D9) ("Ascendant" or the "Company") is pleased to announce results of 29 diamond drill holes (7,447m) as part of its ongoing underground exploration and definition drilling program at its El Mochito Mine in Honduras. The drilling results are evenly split between step-out and in-fill drill holes, targeting the extensions of four ore bodies, namely Palmar Dyke, Santa Elena, Victoria and Esperanza.

Three areas are very close to existing workings and could be accessed within six to twelve months. The fourth, the Esperanza orebody, is already being mined on its western edge while this drilling represents a further extension to the East showing similar grades. All orebodies remain open along strike and at depth.

Key Highlights

A few significant results include (these are all true widths):

Step-out Holes

• HOLE 10846 - 17.6m at 5.3% zinc, 3.8% lead and 83 g/t silver (Palmer Dyke)
• HOLE 10844 - 8.6m at 10.7% zinc, 4.0% lead and 95 g/t silver (Palmar Dyke)
• HOLE 10845 - 17.0m at 5.0% zinc, 2.0% lead and 53 g/t silver (Victoria)
• HOLE 10837 - 5.5m at 17.3% zinc, 3.6% lead and 142 g/t silver (Palmar Dyke)

In-fill Holes

• HOLE 10833 - 35.4m at 5.6% zinc, 2.0% lead and 31 g/t silver,
  • including 5.4m at 7.8% zinc, 2.6% lead and 35 g/t silver (Santa Elena)
• HOLE 10847 - 17.5m at 6.2% zinc, 2.2% lead, and 41 g/t silver (Esperanza)
• HOLE 10828 - 26.5m at 5.7% zinc, 0.6% lead and 18 g/t silver (Santa Elena)
• HOLE 10826 - 17.1m at 5.8% zinc, 1.2% lead and 36 g/t silver (Esperanza)

Chris Buncic, President and CEO of Ascendant commented: "These initial drill results are well above current mining grades and highlight the incredible potential for additional high grade zinc mineralization at our El Mochito property. Of critical importance is the fact that many of the areas we are drilling from are at current workings that can be brought into the production schedule within the next twelve months. This is the first serious exploration program undertaken at El Mochito in many years and we are hopeful that more opportunities can be exposed. We look forward to providing further results from our current 33,200m drill program as they become available over the coming months."

Quality Assurance and Quality Control

Analytical work was carried out by Bureau Veritas Commodities Canada Ltd. (ACME), Vancouver, Canada. Drill core samples were prepared in Bureau Veritas's laboratory in Guatemala City, Guatemala. Pulp samples were then sent to their analytical Laboratory in Vancouver, Canada. All samples were analyzed for zinc, Lead, copper, iron and silver values determined by method code AR402 atomic absorption spectrometry, and any over limit values were determined using method code FA410. Bureau Veritas has routine quality control procedures which ensure that every batch of 40 prepared samples includes three sample repeats, two commercial standards and blanks. Bureau Veritas is independent from Ascendant. Ascendant used standard QA/QC procedures, when inserting blanks, for the drilling program. The scientific and technical information in this press release has been reviewed and approved by Andy Campbell, P.Geo., Director to Ascendant and a Qualified Person as defined by National Instrument 43-101.

About Ascendant Resources

Ascendant Resources Inc. is a mining company focused on its producing El Mochito zinc, silver and lead mine in west-central Honduras in which the Company has a 100% interest. El Mochito has been in production since 1948. The Company evaluates producing and advanced development stage mineral resource acquisition opportunities in North, South and Central America, on an ongoing basis. The Company's common shares are principally listed on the TSX Venture Exchange under the symbol "ASND". For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.