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 April 22, 2010 it has closed its
previously announced brokered private placement of 2,777,779 flow-through units
(the "FT Units") at a price of $0.90 per FT Unit and 6,329,114 non-flow-through
units (the "HD Units") at a price of $0.79 per HD Unit for gross proceeds of
$7,500,000.


Jones, Gable & Company Limited and Primary Capital Inc. led a syndicate of
agents in the private placement (the "Agents"). Macquarie Private Wealth Inc.
placed 2,222,223 FT Units in the private placement.


Each FT Unit consists of one flow-through share and one half of one common share
purchase warrant (each whole warrant a "FT Warrant"). Each FT warrant will be
exercisable for an additional common share until May 13, 2012 at an exercise
price of $1.00 per common share. Each HD Unit consists of one non-flow-through
share and one common share purchase warrant ("HD Warrant"). Each HD Warrant will
be exercisable for an additional common share until May 13, 2012 at an exercise
price of $0.95 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
$1.60 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 paid to the Agents a cash
commission and issued to the Agents and their sub-agents 683,016 compensation
options (the "Compensation Options"). Each Compensation Option is exercisable
into one HD Unit at $0.79 per HD Unit until May 13, 2012.


All securities issued pursuant to the private placement and the Compensation
Options are subject to a hold period expiring on September 14, 2010.


The proceeds raised from the FT Units will be used for exploring the Company's
Premier and Dilworth properties which will constitute Canadian exploration
expenses and will be renounced for 2010 income tax year. The net proceeds raised
from the HD Units will be used to explore the Company's Mt. Margaret property
and for working capital.


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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