AOT Ascot Resources Ltd

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES


Ascot Resources Ltd. (the "Company") (TSX VENTURE:AOT) is pleased to announce
that, further to its press release dated September 9, 2009 it has closed a
non-brokered private placement of four million units (the "Units") at a price of
$0.45 per Unit for gross proceeds of $1,800,000. Each Unit consists of one flow
through share and one half of one non-transferable common share purchase
warrant. Each whole warrant will be exercisable for an additional common share
until September 25, 2010 at an exercise price of $0.55 per common share. In the
event that daily volume weighted average price of the Company's common shares on
the TSX Venture Exchange is greater than $0.80 per share for a period of twenty
consecutive trading days at any time after four months from the closing of the
private placement, the Company may give notice to the holders of the warrants
within thirty days of such occurrence, that the warrants will expire thirty days
from the date of the notice.


In connection with the private placement the Company will pay to certain
finders, subject to TSX Venture Exchange approval, a cash fee of $144,000 which
is equal eight per cent of the gross proceeds raised by finders and issue
320,000 non-transferable warrants ("Finder's Warrants") which is equal to eight
per cent of the Units sold pursuant to the efforts of finders. The Finder's
Warrants will be exercisable at $0.45 per Finder's Warrant all other terms of
the Finder's Warrant will be identical to those of the warrants in the Units


All securities issued pursuant to the private placement and the Finder's
Warrants are subject to a hold period expiring on January 26, 2010.


The flow through funds raised from the private placement will be used for
exploring the Company's Premier and Dilworth properties which will constitute
Canadian exploration expenses and will be renounced for 2009 income tax year.


ON BEHALF OF THE BOARD OF DIRECTORS OF ASCOT RESOURCES LTD.

John A. Toffan, Director

This news release does not constitute an offer to sell or solicitation of an
offer to sell any securities in the United States. The securities have not been
and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act" )or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


Cautionary Statement Regarding Forward-Looking Information

All statements, trend analysis and other information contained in this press
release regarding 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. 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. 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 even if
circumstances or management's estimates or opinions should change. Investors
should not place undue reliance on forward-looking statements.

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