News Column

U.S. Forest Service Affirms Decision Notice and Finding of No Significant Impact for Ascot Resources Prospecting Permits at Mt Margaret

Mar 26 2013 12:00AM

Marketwire

LogoTracker

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/26/13 -- Ascot Resources Ltd (TSX VENTURE: AOT) is pleased to announce today the U.S. Forest Service denied an appeal brought by the Portland, Oregon based Gifford Pinchot Task Force of the U.S. Forest Service's Decision Notice and Finding of No Significant Impact for Ascot USA Inc.'s two prospecting permits on the Mt. Margaret property in the St. Helens Mining District of Washington State.

The decision confirms the agencies finding that the prospecting activities will have no significant impact on the environment. The Forest Service action clears the way for Ascot USA Inc. to receive the prospecting permits necessary to begin exploratory drilling.

The exploration program involves drilling 63 drill holes from 23 drill pads. Ascot USA Inc.'s proposal has the support of residents and elected officials throughout the region. Much anticipated, results of the exploration will help determine if there is a significant mineral deposit at hand.

On Behalf of the Board of Directors

ASCOT RESOURCES LTD.

John A. Toffan, President and Director

Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation; the completion of the Offering on the terms set forth herein, the anticipated closing date of the Offering and the use of proceeds from the Offering are forward looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.



Contacts:
Ascot Resources Ltd.
Bob Evans
CFO and Director
(604) 684-8950
(604) 684-9877 (FAX)
www.ascotresources.ca





Source: Marketwire