Ascendant Resources Receives Conditional Approval for Listing on the TSX

TORONTO, ONTARIO--(Marketwired - June 29, 2017) - Ascendant Resources Inc. (TSX VENTURE:ASND)(FRANKFURT:2D9) ("Ascendant" or the "Company") is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the "TSX") to graduate from the TSX Venture Exchange to list on the TSX main board.

Chris Buncic, President and CEO of Ascendant commented: "We are very pleased to list on the TSX main board as it represents another key milestone for Ascendant as we progress our plans to build a mid-tier mining company. A TSX listing is a natural progression for Ascendant and will help raise the profile of the Company with investors as well as widen the pool of those able to invest in the secondary market. The combination of success in our operations and exploration as well as our strong leverage to zinc prices in a rising price environment should prove to be an exceptional combination going forward".

Final approval of the TSX listing is subject to Ascendant meeting certain standard and customary conditions required by the TSX on or before September 26, 2017. Ascendant will issue a statement once the TSX issues a bulletin confirming the date on which trading on the TSX is expected to commence. On such date, Ascendant's common shares and listed warrants will be delisted from the TSX Venture Exchange and the common shares and listed warrants of the Company will commence trading on the TSX.

About Ascendant Resources

Ascendant Resources Inc. is a mining company focused on its 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 production since 1948. 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 principally 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: satisfaction of the listing conditions of the TSX. and such other factors described or referred to 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.