Ascot Resources Ltd. announced additional gold intercepts at the “Day Zone” at the Company’s Premier Gold Project (“PGP”). The new drill holes have extended previously reported mineralization 150m to the north. Mineralization is open along strike to the north and the south. The Day Zone is located on the Big Missouri Ridge, approximately 5km north of the Premier mill. Additionally, an update is provided on two drill holes at Silver Hill. Day Zone: This news release should be read in conjunction with previous news releases reporting high-grade gold intercepts from the Day Zone on September 14 and November 19, 2020. In an effort to follow up on the initial results from this area, two more drill platforms (Day-2 and Day-3) were established to the north and the east of the initial drill platform (Day-1). Platform Day-2 was established approximately 150m to the north of Day-1 to extend the mineralization in that direction. Five drill holes were completed from Day-2, successfully intercepting gold mineralization at a comparable depth to the mineralization established at Day-1. In addition, two of the drill holes intercepted mineralization at a shallower level. This was also observed in some of the holes at Day-1 and indicates the presence of shallower mineralized horizon in this area. Drill pad Day-3 was established to the east of Day-1 to test the extension of the Province zone at the top of the ridge. The drill holes intercepted a new zone of mineralization in quartz breccia that was previously untested. Further testing is required to investigate the connection to other areas of high grade. The 2020 drilling in the Day Zone area now indicates that gold mineralization is present throughout the entire width of the Big Missouri Ridge. The extent of mineralization to the north and the south will require drill testing to extend the mineralization in this highly prospective exploration area. Silver Hill: This paragraph should be read in conjunction with the news release dated October 9, 2020 reporting initial drill results from Silver Hill. Two additional holes were drilled at Silver Hill. Hole 2230 tested a strong chargeability anomaly to the northeast of previous drilling. The geophysical anomaly appears to be caused by pyrite in quartz-carbonate veins within rocks of the Dilworth formation. The quartz-carbonate-pyrite veins in conjunction with anomalous silver and zinc indicate hydrothermal activity in the volcanic package, a feature commonly associated with VMS style mineralization which is the target in this area. Hole 2236 intercepted similar lithologies at a pad 800m to the southwest. The exploration program at Silver Hill started with drill testing narrow high-grade silver occurrences at the edge of much younger dykes in a stratigraphic position that is prospective for VMS style mineralization. Geophysical data was collected along four profiles and outlines large areas of high chargeability. The 2020 drilling successfully intercepted anomalous silver away from the edges of dykes but associated with hydrothermal quartz-carbonate-pyrite veins confirming the prospectivity of the rock package. The Company will design an exploration program covering a larger area and expanding from the narrow strip of ground that has been drill tested to date.