Ascendant Announces Nomination of Guillermo Kaelin to Stand for Election to its Board of Directors

TORONTO, ONTARIO--(Marketwired - May 16, 2017) - Ascendant Resources Inc. (TSX VENTURE:ASND) ("Ascendant" or the "Company") is very pleased to announce that Mr. Guillermo Kaelin will stand for election to the Company's Board of Directors at the upcoming Annual and Special Meeting of shareholders to be held on June 21^st, 2017.

Mr. Kaelin is a capital markets professional with over 18 years of experience in private equity, investment banking, research and public securities. Mr. Kaelin is currently the Head of Latin America of Appian Capital Advisory LLP and focuses on originating investments, structuring transactions and selecting management teams within Latin America. Previously, Mr. Kaelin served as a Managing Director with Arias Resource Capital Management LP ("ARCM"), a mining focused Private Equity Fund which he joined in 2008. Prior to joining ARCM, Mr. Kaelin spent several years with the Investment Banking Division of JP Morgan in New York within its Metals & Mining Group. Previously, he was with Banco Wiese Sudameris in Peru as both a credit officer and a senior research analyst. Mr. Kaelin has an MBA from the University of Chicago, an MS in Finance from ESAN (Peru) and a BS in Industrial Engineering from the Universidad de Lima. He served as a Director for Sierra Metals and Chairman of the Board for Sociedad Minera Corona, and currently is a Board Member and Advisor of W Capital (Peruvian Investment Fund).

Chris Buncic, President and CEO of Ascendant commented: "We are delighted to nominate Mr. Kaelin for election to the Board at the upcoming shareholder meeting, as his experience in the analysis and execution of both private and public mining transactions will be a great asset to Ascendant as the Company embarks on an aggressive growth trajectory."

Mark Brennan, Executive Chairman of Ascendant commented: "On behalf of the entire Board, I am very pleased to welcome the nomination of Mr. Kaelin to Ascendant's Board of Directors. Aside from his extensive contact base and mining knowledge globally and in Latin America that will be very useful to Ascendant moving forward, Mr. Kaelin brings a strong analytical eye to the table."

Further details of the Annual and Special Meeting of shareholders can be found on the Company's SEDAR profile at www.sedar.com and will be included in a Management Information Circular, which is expected to be mailed to shareholders on or about May 30, 2017.

About Ascendant Resources

Ascendant Resources Inc. is a mining issuer focused on its flagship operating asset, the producing El Mochito zinc, silver and lead mine in west-central Honduras in which the Company has a 100% interest. El Mochito has been in almost continuous production since 1948. More broadly, the Company evaluates producing and advanced development stage mineral resource acquisition opportunities in North, South and Central America, on an ongoing basis. The Company's common shares are listed on the TSX Venture Exchange under the symbol "ASND". For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.

Forward-looking information is based on reasonable assumptions that have been made by Ascendant as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Ascendant to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the uncertainty of election of Guillermo Kaelin to the Company's Board of Directors: production statistics; ore grades; tonnes milled; recovery rates; operating costs; the timing and amount of estimated future production; capital expenditures; the impact of general business and economic conditions; the ability of the Company to increase production; the arrival of new equipment; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Ascendant; stock market volatility; competition; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Ascendant's ability to control or predict.

Although Ascendant has attempted to identify important factors that could cause actual outcomes to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual outcomes and future events could differ materially from those reliant on forward-looking information.

All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Ascendant disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.