London, 8 April 2010, Ascot Mining (Ascot" or the "Company) (PLUS Markets: ASMP, XETRA(R): AM3.DE) is pleased to provide this update to its Chassoul and Tres Hermanos / El Recio mining and processing operations: Chassoul Mine and Mill: The first raise (a vertical opening) connecting the lower Cajeta tunnel to the upper tunnel was successfully completed, allowing immediate access to higher grade material, facilitating development of the ore block and improving ventilation on the lower level.

The South and the North walls of the raise were sampled every meter and assayed, the results are appended.

A second raise of a total of 8 planned will access ore between the two levels in the Cajeta vein. With the exception of a few isolated areas the ground is very competent requiring very limited support.

Mining will be via stope and crown pillar, with subsequent pillar recovery, thus minimizing dilution.

The Company intends to reclaim the tailings from the tailings pond and pump them underground after adding Portland cement.

There is no danger of pollution and this method of back filling is a standard procedure in many mines. The mill circuit is functioning well after the completion of a number of small changes as recommended by the Companys Senior Metallurgist.

The laboratory was completed and provides timely assay results.

An immediate expansion of manpower will permit a 24 hour seven days per week operation to deal with the increasing demand for sample analysis associated with the underground activities and the exploration program. The bigger ball mill is scheduled to be moved into place within 10 days and connected to the circuit.

Depending on the hardness of the ore and metallurgical characteristics the recently announced expansion of capacity of the mill will be 150 tons per day.

The ore from the Boston concession, which is scheduled to be processed at Chassoul until the first gravity mill is in operation, has not been tested for millability since the vein was only recently uncovered and ore extraction is about to commence. Assay results: The following assays were obtained in the raise between the lower and upper Cajeta tunnels on the Chassoul property. Assay results Raise between lower and upper Cajeta tunnels Note: values in gm/ton, width in cm Sample South North widthS widthN Grade xm S Grade xm N 1m 6 2 95 120 570 240 2m 4 4 90 80 360 320 3m 4 6 125 50 500 300 4m 8 4 120 72 960 288 5m 8 4 95 80 760 320 6m 6 2 95 77 570 154 7m 6 2 110 115 660 230 8m 10 5 130 80 1300 400 9m 11.67 15 90 50 1050.3 750 10m 6 4 80 63 480 252 11m 14 4.67 60 50 840 233.5 12m 6 13.33 30 30 180 399.9 13m 4 4 20 20 80 80 14m 16 4 25 56 400 224 15m 26 14.67 20 63 520 924.21 16m 8 8 60 22 480 176 17m 11.33 6 25 50 283.25 300 18m 10.67 9 44 60 469.48 540 19m 3.33 8.33 36 45 119.88 374.85 20m 2.67 6.67 50 50 133.5 333.5 21m 6 8.33 55 50 330 416.5 22m 10 19.33 87 80 870 1546.4 23m 10.33 5.33 70 70 723.1 373.1 24m 9 38.33 67 90 603 3449.7 25m 7 19 52 67 364 1273 26m 6 11.67 74 180 444 2100.6 27m 13 8 85 86 1105 688 28m 7.33 8.33 70 70 513.1 583.1 29m 8 2 65 57 520 114 30m 16.67 9.33 68 65 1133.56 606.45 31m 43.33 4.67 70 70 3033.1 326.9 32m 5.33 3.33 62 88 330.46 293.04 2225 2206 20685.73 18610.75 average 0.2989 0.2713 oz/ton average 9.3 8.44 gm/ton Notes: The numbers 2225 and 2206 represent the sum total of the individual width of the vein at the sample point on the South and North wall of the raise respectively. The numbers 20685.73 and 18610.75 represent the product sum total of the individual assay multiplied by the width of the vein at the sample point on the South and North wall.

The average grade of the South wall is obtained by dividing 20685.73 by 2225 to obtain 9.30gm/ton or 0.2989oz/ton.

Similarly the average grade of the North wall is 18610.75 divided by 2206 is 8.44gm/ton or 0.2713oz/ton.

The foregoing assays were obtained at the Companys new onsite laboratory.
Supplementary Ore Supply: Arrangements have been made to truck ore with a grade of +9g/t from Las Juntas to Chassoul commencing immediately.

This will ensure that the plant can operate at full capacity if the Chassoul mine, while continuing with mine development, cannot supply sufficient ore to operate at full capacity.

This will ensure full utilization of plant capacity.

Ore from Las Juntas will be stockpiled at Chassoul and processed separately once approximately 300 tons have been accumulated. Mr.

Andrew von Kursell, P.Eng., Ascots COO states "Production for the first three months of 2010 fell short of our target due to a number of unrelated events.

Processing was interrupted due to changes that were made to the leach circuit to convert from a batch operation to a continuous process; a delay in carbon delivery from Mexico forced a mill shut down, a crusher break down required a 5 day mill shut down, and a delay in obtaining a governmental permit to use an alternate explosive supplier forced a cessation of all mining activity underground resulting in a shortage of ore being delivered to the mill.

As of April 1, all short comings have been corrected; the surface ore stockpile is being increased to ensure the mill does not run out of feed again".
Tres Hermanos: The municipality has approved the development of a gravity mill.

The environmental report is expected to be completed this week and will be submitted to the Government for approval.

Once approval is received construction of the gravity mill will commence. The mine, referred to as Marvins finka (farm) has been rehabilitated and, subject to reinstallation of service lines, is ready to resume production of ore.

Once production starts, a raise (a vertical opening) will be driven in ore to surface.

The purpose of this raise is twofold, one is to improve ventilation, and secondly to access 20 to 24 gm/ton gold bearing material (0.64 to 0.77 oz/ton).

Based on current information, the average grade of ore to be mined is 11 gm/ton (0.35 oz/ton) with high grade pockets. The gravity mill, consisting of a crusher, screen, ball mill, Humphry spirals and/or a Long Tom sluice box, will upgrade the ore to produce a concentrate which will be shipped to the Chassoul mill or be processed in Las Juntas.

No chemicals are used to produce the concentrate. Depending on the efficiency of the plant the tailings will either be stored for further processing or mixed with Portland cement and pumped underground to fill old workings.

The plant will be built to have a daily capacity of 75 tons/day, but will initially operate at 10 tons/day until the circuits are balanced.

When stabilized, the plant will operate at full capacity.
Revised Production Target: As a result of the unforeseen loss of La Toyota and resulting delays in the expansion at Chassoul projected production to September 2010 has been revised from 28,000 ounces to approximately 20,000 ounces.

While a setback, this adjustment is not considered to be of longer term significance as the Company is aggressively moving forward with its development and acquisition plans.
The Directors take responsibility for this announcement. Enquiries: Damien Daly +44 (0) 7880 55 46 47 Email: Website: www.ascotmining.com
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