Ascendant Resources Inc. (TSX:ASND) (OTCQX:ASDRF)
(FRA:2D9) ("Ascendant" or the "Company”) reports that operations at
its El Mochito mine in Honduras are continuing normally despite
uncertainty following the General Elections held on Sunday,
November 26, 2017. Since this date, uncertainty regarding the
outcome of the election for President, where vote counting remains
ongoing, has resulted in demonstrations in various parts of the
country and the imposition of a 10-day general curfew by the
national government as of Friday, December 1.
To date, there has been no material impact to
the operations and the Company continues to ship concentrate from
the mine to the port. Company workers have received permission to
travel to and from the mine during curfew hours and are able to do
so safely. The mine still receives support from the community as
the main employer in the region. Ascendant has, however, taken
precautions to ensure that the security of people, plant and
property is maintained and continues to diligently monitor the
situation.
At this time, we believe there is no material
risk to operations, people or property. The Company will continue
with operations as usual while taking all essential measures to
maintain the ongoing safety of our employees and assets. The
Company has sufficient supplies of diesel and other essential items
at site to continue operations through this process of political
change and there have been no interruptions with the workforce.
Operations at the El Mochito mine have been
ongoing for over 70 years and is a vital source of employment and
social-economic benefit to the local municipality and benefits from
overwhelming community support, which continues during this
uncertain time.
The Company shall provide further updates if
there is a material change in the situation.
About Ascendant Resources
Ascendant Resources Inc. is a mining company
focused on its 100%-owned producing El Mochito zinc, silver and
lead mine in west-central Honduras, which has been in production
since 1948. Since acquiring the mine in December 2016, Ascendant
has been focused on a continuous optimization program aimed at
restoring the historic potential of the El Mochito mine and growing
the asset thereon. To date, the Company has been successful at
increasing production and reducing costs with the expectation of
free cash flow in the near-term. Ascendant is also focused on
expanding and upgrading known resources through extensive
exploration work for near-term growth opportunity. With a
significant land package of 11,000 hectares and an abundance of
historical data, there are several regional targets providing
longer term exploration upside and further resource growth
potential. The Company is also engaged in the evaluation of
producing and advanced development stage mineral resource
opportunities in North, South and Central America, on an ongoing
basis. The Company's common shares are principally listed on the
Toronto Stock Exchange under the symbol "ASND". For more
information on Ascendant Resources, please visit our website
at www.ascendantresources.com.
Neither the Toronto Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX) accepts responsibility for the adequacy or
accuracy of this release. For further information please
contact:Katherine PrydeDirector, Communications & Investor
RelationsTel: 888-723-7413info@ascendantresources.com
Forward Looking
Information
This news release contains "forward-looking statements" and
"forward-looking information" (collectively, "forward-looking
information") within the meaning of applicable Canadian securities
legislation. All information contained in this news release, other
than statements of current and historical fact, is forward-looking
information. Often, but not always, forward-looking information can
be identified by the use of words such as "plans", "expects",
"budget", "guidance", "scheduled", "estimates", "forecasts",
"strategy", "target", "intends", "objective", "goal",
"understands", "anticipates" and "believes" (and variations of
these or similar words) and statements that certain actions, events
or results "may", "could", "would", "should", "might" "occur" or
"be achieved" or "will be taken" (and variations of these or
similar expressions). Forward-looking information is also
identifiable in statements of currently occurring matters which may
continue in the future, such as "providing the Company with", "is
currently", "allows/allowing for", "will advance" or "continues to"
or other statements that may be stated in the present tense with
future implications. All of the forward-looking information in this
news release is qualified by this cautionary note.
Forward-looking information in this news release
includes, but is not limited to, statements regarding the potential
for the Company to continue with its operations at el Mochito mine
during the curfew imposed by the government, that no damage to
persons, operations or property will result from the political
demonstrations that have resulted from the delay in the vote count
after the general presidential elections, that the Company will be
able to maintain its special permit to ship concentrate from the
port and for its employees to travel to and from El Mochito Mine
during the country-wide curfew imposed by the federal government of
Honduras . Forward-looking information is not, and cannot be, a
guarantee of future results or events. Forward-looking information
is based on, among other things, opinions, assumptions, estimates
and analyses that, while considered reasonable by Ascendant at the
date the forward-looking information is provided, inherently are
subject to significant risks, uncertainties, contingencies and
other factors that may cause actual results and events to be
materially different from those expressed or implied by the
forward-looking information. The material factors or assumptions
that Ascendant identified and were applied by Ascendant in drawing
conclusions or making forecasts or projections set out in the
forward-looking information include, but are not limited to,
the Company maintaining its operations uninterrupted during
the political demonstrations in the country and the curfew imposed
by the Government of Honduras as a result thereof, the Company
being able to ship its concentrate out of the country, the Company
maintaining its special permission for its employees to travel to
and from el Mochito Mine during the country wide curfew , and other
events that may affect Ascendant's ability to develop its project;
and no significant and continuing adverse changes in general
economic conditions or conditions in the financial markets.
The risks, uncertainties, contingencies and
other factors that may cause actual results to differ materially
from those expressed or implied by the forward-looking information
may include, but are not limited to, risks generally associated
with the mining industry, the Company’s ability to operate el
Mochito Mine during the political demonstrations in Honduras and
during the country wide curfew, the Company’s ability to ship its
concentrate out of Honduras during the curfew, the Company’s
ability to maintain its special permit to have its employees travel
to and from El Mochito during the curfew imposed by the government
of Honduras, the Company’s ability to maintain its employees,
property and operations safe during the political demonstrations, ,
risks related to political or social unrest or change, as well as
the risks discussed in Ascendant's most recent Annual Information
Form on file with the Canadian provincial securities regulatory
authorities and available at www.sedar.com.
Should one or more risk, uncertainty,
contingency or other factor materialize or should any factor or
assumption prove incorrect, actual results could vary materially
from those expressed or implied in the forward-looking information.
Accordingly, the reader should not place undue reliance on
forward-looking information. Ascendant does not assume any
obligation to update or revise any forward-looking information
after the date of this news release or to explain any material
difference between subsequent actual events and any forward-looking
information, except as required by applicable law.
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